Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.131%

Price spread now: Aster against Hyperliquid+0.348%7-day average +0.244% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1391.392% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.736%+$74 on $10k

Price spread, last 4 days (all we have)−0.346%−$35 · spread now +0.348%, 7d avg +0.244%

Together, before fees+0.390%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$39 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: Aster is 0.104% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.244%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SAGA	0.03884	0.0100	pay 0.0013% / 1h	50m 34s	$2.1M	$267K	3x
Short	Aster SAGAUSDT	0.03898	0.0100	get 0.0050% / 4h	50m 34s	$69K	$789K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.348%Rate

Funding earned: $0
Price spread: +0.348% → +0.244%: $10.38
Slippage, 4 orders: −$122.15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$128.77
Costs to cover: 1.392%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, just now; Aster: live order book, 2 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 Hyperliquid live order book, just now	1.29 bp	58.6 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	16.64 bp	36.7 bp −$37	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
Kraken Futures PF_SAGAUSD	−0.0265%	1h	0.03889	+0.125%	$69K	$646K	20x	as long as short
BloFin SAGA-USDT	+0.0053%	4h	0.03896	+0.309%	$1.0M	$214K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0080%	1h	0.03888	+0.103%	$44K	$377K	25x	as long as short
Hyperliquid SAGAlong	+0.0100%	1h	0.03884	long leg	$2.1M	$267K	3x
Aster SAGAUSDTshort	+0.0100%	4h	0.03898	+0.348%	$69K	$789K	5x
Binance SAGAUSDT	+0.0100%	4h	0.03897	+0.338%	$19.3M	$102.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03903	+0.489%	$5.9M	$7.8M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03897	+0.335%	$2.5M	$4.5M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03897	+0.335%	$772K	$2.6M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03897	+0.333%	$2K	$129K	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	+0.0156%	4h	0.03907	+0.584%	$3.8M	$14.4M	20x	as long as short
BingX SAGA-USDT	+0.0182%	4h	0.03891	+0.180%	—	$2.0M	—	as long as short
Variational Omni SAGA	+0.0220%	4h	0.03898	+0.348%	$4K	$51K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1035%	1h	0.03895	+0.283%	$3K	$28	10x	as long as short