Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0735%/8h= −80.5% APRpaid last 24h −0.161%

Price spread now: Kraken Futures against Gate−0.259%7-day average −0.326% · you buy dearer than you sell

Net, funding: paid 7d − costs−$635as in the Funding arb table

Net, price: spread back to 7d avg − costs−$340as in the Price arb table

costs, in and out, $10k−$3473.467% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−2.884%−$288 on $10k

Price spread, last 4 days (all we have)−0.462%−$46 · spread now −0.259%, 7d avg −0.326%

Together, before fees−3.345%−$335 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.067% dearer against Gate than usual: you sell high and buy low (spread −0.259% now, against its 7-day average of −0.326%): +$7 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate SAGA_USDT	0.04047	0.0100	pay 0.0050% / 4h	1h 00m	$6.1M	$7.6M	20x
Short	Kraken Futures PF_SAGAUSD	0.04037	−0.0635	pay 0.0079% / 1h	0m 21s	$72K	$561K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.259%Rate

Funding earned: −$154.37
Price spread: −0.259% → −0.326%: $6.7
Slippage, 4 orders: −$321.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$494.42
Costs to cover: 3.467%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Kraken Futures: live order book, 43 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, 3 min ago	8.70 bp	113.7 bp −$114	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 43 min ago	45.84 bp	77.9 bp −$78	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
Hyperliquid SAGA	−0.1268%	1h	0.04002	−1.112%	$2.2M	$263K	3x	as long as short
Kraken Futures PF_SAGAUSDshort	−0.0635%	1h	0.04037	−0.259%	$72K	$561K	20x
KuCoin SAGAUSDTM	+0.0002%	4h	0.04023	−0.593%	$800K	$2.7M	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04033	−0.335%	$60K	$714K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04033	−0.346%	$19.8M	$100.8M	20x	as long as short
Gate SAGA_USDTlong	+0.0100%	4h	0.04047	long leg	$6.1M	$7.6M	20x
MEXC SAGA_USDT	+0.0100%	4h	0.04025	−0.544%	$2.8M	$4.5M	50x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04031	−0.407%	$2K	$178K	5x	as long as short
Bybit SAGAUSDT	+0.0124%	4h	0.04033	−0.341%	$3.9M	$15.3M	20x	as long as short
Variational Omni SAGA	+0.0145%	4h	0.04006	−1.007%	$6K	$41K	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0151%	4h	0.04000	−1.161%	$1.0M	$272K	20x	as long as short
BingX SAGA-USDT	+0.0160%	4h	0.04032	−0.371%	—	$2.0M	—	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.04021	−0.642%	$42K	$384K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1238%	1h	0.04038	−0.222%	$3K	—	10x	as long as short