Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h +0.001%

Price spread now: BloFin against Extended+0.503%7-day average −0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$1351.348% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)−1.016%−$102 · spread now +0.503%, 7d avg −0.140%

Together, before fees−1.023%+ Points / potential airdropExtended: Active · farm board−$102 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.643% dearer against Extended than usual: you sell high and buy low (spread +0.503% now, against its 7-day average of −0.140%): +$64 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months. At the pace of the last 7 days (−0.007% in total) that is about 21 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended SAGA-USD	0.03913	0.0104	pay 0.0013% / 1h	27m 03s	$2K	$138K	5x
Short	BloFin SAGA-USDT	0.03933	0.0078	get 0.0039% / 4h	3h 27m	$993K	$351K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.503%Rate

Funding earned: −$5.36
Price spread: +0.503% → −0.140%: $64.29
Slippage, 4 orders: −$117.84
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$75.9
Costs to cover: 1.348%
Break-even: never at this rate

Slippage from Extended: live order book, 44 min ago; BloFin: live order book, 30 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 Extended live order book, 44 min ago	6.66 bp	42.8 bp −$43	298.7 bp −$2,987	doesn't fit	doesn't fit
Sell BloFin live order book, 30 min ago	3.79 bp	23.2 bp −$23	72.2 bp −$722	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
Kraken Futures PF_SAGAUSD	−0.0694%	1h	0.03907	−0.150%	$70K	$681K	20x	as long as short
BloFin SAGA-USDTshort	+0.0078%	4h	0.03933	+0.503%	$993K	$351K	20x
Coinbase International SAGA-PERP-INTX	+0.0088%	1h	0.03901	−0.314%	$46K	$427K	25x	as long as short
KuCoin SAGAUSDTM	+0.0094%	4h	0.03915	+0.043%	$777K	$3.0M	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03907	−0.161%	$2.2M	$314K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03914	+0.028%	$70K	$878K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03917	+0.094%	$19.4M	$125.2M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03933	+0.503%	$6.0M	$8.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03913	−0.008%	$2.6M	$5.9M	50x	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03930	+0.420%	$4K	$97K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USDlong	+0.0104%	1h	0.03913	long leg	$2K	$138K	5x
BingX SAGA-USDT	+0.0420%	4h	0.03906	−0.187%	—	$2.1M	—	as long as short
Bybit SAGAUSDT	+0.0510%	4h	0.03915	+0.046%	$3.8M	$16.9M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1286%	1h	0.03913	−0.008%	$3K	$28	10x	as long as short