SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1175%/8h= +128.7% APRnext payment +$1.47 per $10,000 · paid last 24h +0.295%

Price spread now: Deribit against Hyperliquid+0.254%7-day average — · you sell dearer than you buy

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

Long on Hyperliquid 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$35 a day on $10k at the current rate, and Deribit is 0.254% dearer against Hyperliquid than usual: you sell high and buy low: +$25 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	Hyperliquid SAGA	0.03930	0.0100	pay 0.0013% / 1h	49m 04s	$2.2M	$323K	3x
Short	Deribit SAGA_USDC-PERPETUAL	0.03940	0.1275	get 0.0159% / 1h	49m 04s	$3K	$28	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.254%Rate

Funding earned: $246.79
Price spread: +0.254% → 0.000%: $25.45
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $256.23
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 2 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 Hyperliquid live order book, 2 min ago	1.27 bp	37.9 bp −$38	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
Kraken Futures PF_SAGAUSD	−0.0763%	1h	0.03927	−0.084%	$71K	$724K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03922	−0.204%	$49K	$435K	25x	as long as short
Hyperliquid SAGAlong	+0.0100%	1h	0.03930	long leg	$2.2M	$323K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03939	+0.232%	$71K	$904K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03934	+0.102%	$19.4M	$137.2M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03939	+0.226%	$3.8M	$18.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03950	+0.509%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03935	+0.127%	$2.7M	$6.1M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03939	+0.229%	$822K	$3.1M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03941	+0.280%	—	$2.2M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.03944	+0.348%	$4K	$114K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03937	+0.167%	$3K	$159K	5x	as long as short
BloFin SAGA-USDT	+0.0143%	4h	0.03956	+0.662%	$980K	$453K	20x	as long as short
Deribit SAGA_USDC-PERPETUALshort	+0.1275%	1h	0.03940	+0.254%	$3K	$28	10x