SAGA

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0142%/8h= +15.6% APRnext payment +$0.18 per $10,000 · paid last 24h −0.377%

Price spread now: Coinbase International against Kraken Futures−0.251%7-day average −1.324% · you buy dearer than you sell

Net, funding: paid 7d − costs−$699as in the Funding arb table

Net, price: spread back to 7d avg − costs−$331as in the Price arb table

costs, in and out, $10k−$4384.382% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−2.603%−$260 on $10k

Price spread, last 3 days (all we have)+0.942%+$94 · spread now −0.251%, 7d avg −1.324%

Together, before fees−1.662%−$166 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 1.073% dearer against Kraken Futures than usual: you sell high and buy low: +$107 more if the spread goes back to its 7-day average of −1.324%. Mind the row above: over the last 7 days funding on this pair cost −2.603%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SAGAUSD	0.03931	−0.0038	get 0.0005% / 1h	16m 25s	$70K	$650K	20x
Short	Coinbase International SAGA-PERP-INTX	0.03921	0.0104	get 0.0013% / 1h	16m 25s	$46K	$398K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. 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 Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now −0.251%Rate

Funding earned: $29.91
Price spread: −0.251% → −1.324%: $107.3
Slippage, 4 orders: −$418.22
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$301.02
Costs to cover: 4.382%
Break-even: 77.5 days

Slippage from Kraken Futures: live order book, 52 min ago; Coinbase International: live order book, 52 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 Kraken Futures live order book, 52 min ago	44.91 bp	50.8 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 52 min ago	11.55 bp	72.8 bp −$73	doesn't fit	doesn't fit	doesn't fit

SAGA on 13 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	−0.0895%	1h	0.03904	−0.683%	$2.2M	$289K	3x	as long as short
Kraken Futures PF_SAGAUSDlong	−0.0038%	1h	0.03931	long leg	$70K	$650K	20x
Aster SAGAUSDT	+0.0100%	4h	0.03927	−0.102%	$70K	$834K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03926	−0.118%	$19.4M	$111.6M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03928	−0.067%	$3.8M	$15.3M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03942	+0.284%	$6.0M	$8.3M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03930	−0.022%	$2.6M	$5.4M	50x	as long as short
KuCoin SAGAUSDTM	+0.0100%	4h	0.03930	−0.022%	$776K	$2.8M	20x	as long as short
BingX SAGA-USDT	+0.0100%	4h	0.03933	+0.055%	—	$2.0M	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03929	−0.037%	$5K	$138K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International SAGA-PERP-INTXshort	+0.0104%	1h	0.03921	−0.251%	$46K	$398K	25x
Variational Omni SAGA	+0.0139%	4h	0.03936	+0.121%	$4K	$73K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1533%	1h	0.03933	+0.055%	$3K	$28	10x	as long as short