SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0413%/8h= −45.3% APRnext payment −$0.52 per $10,000 · paid last 24h −0.295%

Price spread now: Hyperliquid against Deribit−0.051%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Hyperliquid is 0.051% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SAGA_USDC-PERPETUAL	0.03933	0.0513	pay 0.0064% / 1h	50m 03s	$3K	$28	10x
Short	Hyperliquid SAGA	0.03931	0.0100	get 0.0013% / 1h	50m 03s	$2.2M	$323K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 DeribitbpFee HyperliquidbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$86.81
Price spread: −0.051% → 0.000%: −$5.09
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$107.89
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 1 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 1 min ago	1.27 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Kraken Futures PF_SAGAUSD	−0.0763%	1h	0.03928	−0.123%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03931	−0.051%	$49K	$436K	25x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03931	−0.051%	$2.2M	$323K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03938	+0.140%	$71K	$912K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03938	+0.129%	$19.5M	$137.3M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03944	+0.290%	$3.8M	$18.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03950	+0.432%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03931	−0.051%	$2.7M	$6.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03942	+0.229%	$823K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03943	+0.254%	—	$2.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.03944	+0.271%	$4K	$114K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03937	+0.109%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0146%	4h	0.03956	+0.585%	$980K	$453K	20x	as long as short
Deribit SAGA_USDC-PERPETUALlong	+0.0513%	1h	0.03933	long leg	$3K	$28	10x