Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1183%/8h= +129.5% APRpaid last 24h +0.009%

Price spread now: Deribit against Gate+0.026%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Deribit

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—needs both histories

Both sides work for this trade now. Funding pays +$35 a day on $10k at the current rate, and Deribit is 0.026% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.03919	0.0100	pay 0.0050% / 4h	22m 36s	$5.9M	$7.8M	20x
Short	Deribit SAGA_USDC-PERPETUAL	0.03920	0.1283	get 0.0160% / 1h	22m 36s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.026%Rate

Funding earned: $248.42
Price spread: +0.026% → 0.000%: $2.55
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $228.97
Costs to cover: 0.220%
Break-even: 0.5 days

Slippage unknown: Gate: live order book, 1 min ago; Deribit: no order-book sample. 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 Gate live order book, 1 min ago	6.36 bp	86.6 bp −$87	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

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
Hyperliquid SAGA	−0.0268%	1h	0.03881	−0.970%	$2.1M	$263K	3x	as long as short
Kraken Futures PF_SAGAUSD	−0.0263%	1h	0.03912	−0.170%	$69K	$643K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03901	−0.459%	$44K	$381K	25x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03920	+0.014%	$69K	$768K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03912	−0.179%	$19.3M	$101.3M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.03919	long leg	$5.9M	$7.8M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.03909	−0.255%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03916	−0.077%	$777K	$2.6M	20x	as long as short
BloFin SAGA-USDT	+0.0103%	4h	0.03913	−0.153%	$994K	$214K	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03909	−0.257%	$7K	$135K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit SAGAUSDT	+0.0141%	4h	0.03915	−0.110%	$3.8M	$14.3M	20x	as long as short
BingX SAGA-USDT	+0.0146%	4h	0.03909	−0.255%	—	$2.0M	—	as long as short
Variational Omni SAGA	+0.0179%	4h	0.03871	−1.221%	$4K	$45K	—	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1283%	1h	0.03920	+0.026%	$3K	$28	10x