SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.1952%/8h= +213.7% APRnext payment +$2.44 per $10,000 · paid last 24h +0.669%

Price spread now: Kraken Futures against Coinbase International+0.296%7-day average +1.393% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$557as in the Price arb table

costs, in and out, $10k−$4474.474% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+2.683%+$268 on $10k

Price spread, last 3 days (all we have)−1.638%−$164 · spread now +0.296%, 7d avg +1.393%

Together, before fees+1.045%+$104 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 1.097% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.296% now, against its 7-day average of +1.393%). If the spread goes back, that is −$110 on $10k: about 45 hours of funding at the current rate (+$59 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SAGA-PERP-INTX	0.04131	−0.0408	get 0.0051% / 1h	32m 02s	$54K	$456K	25x
Short	Kraken Futures PF_SAGAUSD	0.04143	0.1544	get 0.0193% / 1h	32m 02s	$85K	$729K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee Kraken FuturesbpOrdersPrice spread, now +0.296%Rate

Funding earned: $409.84
Price spread: +0.296% → +1.393%: −$109.7
Slippage, 4 orders: −$427.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$147.3
Costs to cover: 4.474%
Break-even: 9.5 days

Slippage from Coinbase International: live order book, 16 min ago; Kraken Futures: live order book, 16 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 16 min ago	45.47 bp	231.7 bp −$232	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 16 min ago	29.53 bp	41.6 bp −$42	doesn't fit	doesn't fit	doesn't fit

SAGA on 14 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTXlong	−0.0408%	1h	0.04131	long leg	$54K	$456K	25x
Hyperliquid SAGA	−0.0298%	1h	0.04118	−0.315%	$2.3M	$345K	3x	as long as short
BloFin SAGA-USDT	+0.0094%	4h	0.04130	−0.024%	$1.1M	$588K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04140	+0.221%	$70K	$1.0M	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04145	+0.339%	$20.8M	$155.6M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04149	+0.443%	$4.1M	$22.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04154	+0.557%	$6.4M	$9.5M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04141	+0.242%	$3.1M	$7.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.04143	+0.290%	$938K	$3.2M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04143	+0.299%	$3K	$159K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit SAGA_USDC-PERPETUAL	+0.0233%	1h	0.04141	+0.242%	$3K	$28	10x	as long as short
BingX SAGA-USDT	+0.0382%	4h	0.04148	+0.412%	—	$2.3M	—	as long as short
Variational Omni SAGA	+0.0569%	4h	0.04139	+0.184%	$6K	$122K	—	as long as short
Kraken Futures PF_SAGAUSDshort	+0.1544%	1h	0.04143	+0.296%	$85K	$729K	20x