Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.243%

Price spread now: Bybit against Gate+0.061%7-day average −0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$333as in the Funding arb table

Net, price: spread back to 7d avg − costs−$234as in the Price arb table

costs, in and out, $10k−$2502.504% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.828%−$83 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.061%, 7d avg −0.103%

Together, before fees−0.835%−$83 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.164% dearer against Gate than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03950	0.0100	pay 0.0050% / 4h	2h 22m	$6.1M	$9.5M	20x
Short	Bybit SAGAUSDT	0.03952	0.0100	get 0.0050% / 4h	2h 22m	$3.9M	$20.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → −0.103%: $16.37
Slippage, 4 orders: −$224.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$234.03
Costs to cover: 2.504%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Bybit: live order book, 1 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 Gate live order book, 1 min ago	8.84 bp	82.6 bp −$83	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.03 bp	45.8 bp −$46	109.0 bp −$1,090	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
Hyperliquid SAGA	−0.0498%	1h	0.03932	−0.456%	$2.2M	$345K	3x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0288%	1h	0.03982	+0.810%	$51K	$444K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03938	−0.299%	$65K	$969K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03947	−0.083%	$19.7M	$146.4M	20x	as long as short
Bybit SAGAUSDTshort	+0.0100%	4h	0.03952	+0.061%	$3.9M	$20.6M	20x
Gate SAGA_USDTlong	+0.0100%	4h	0.03950	long leg	$6.1M	$9.5M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03947	−0.076%	$2.8M	$6.8M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03941	−0.228%	$926K	$3.2M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03949	−0.025%	—	$2.3M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03987	+0.934%	$6K	$113K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended SAGA-USD	+0.0104%	1h	0.03935	−0.369%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0148%	4h	0.03979	+0.734%	$1.0M	$513K	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0765%	1h	0.03946	−0.101%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.0940%	1h	0.03950	+0.007%	$80K	$722K	20x	as long as short