Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h −0.080%

Price spread now: Hyperliquid against KuCoin−0.102%7-day average −0.216% · you buy dearer than you sell

Net, funding: paid 7d − costs−$334as in the Funding arb table

Net, price: spread back to 7d avg − costs−$232as in the Price arb table

costs, in and out, $10k−$2432.430% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.915%−$91 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.102%, 7d avg −0.216%

Together, before fees−0.835%+ Points / potential airdropHyperliquid: Season 2 · farm board−$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.114% dearer against KuCoin than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.216%. Mind the row above: over the last 7 days funding on this pair cost −0.915%, 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	KuCoin SAGAUSDTM	0.03939	0.0014	pay 0.0007% / 4h	22m 06s	$818K	$3.1M	20x
Short	Hyperliquid SAGA	0.03935	0.0100	get 0.0013% / 1h	22m 06s	$2.2M	$323K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.102%Rate

Funding earned: $18.06
Price spread: −0.102% → −0.216%: $11.42
Slippage, 4 orders: −$222.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$213.56
Costs to cover: 2.430%
Break-even: 89.8 days

Slippage from KuCoin: live order book, 5 min ago; Hyperliquid: live order book, 9 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 KuCoin live order book, 5 min ago	19.14 bp	112.2 bp −$112	2804.8 bp −$28.0K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.27 bp	24.6 bp −$25	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	−0.0761%	1h	0.03938	−0.030%	$71K	$723K	20x	as long as short
Coinbase International SAGA-PERP-INTX	−0.0104%	1h	0.03981	+1.066%	$49K	$441K	25x	as long as short
KuCoin SAGAUSDTMlong	+0.0014%	4h	0.03939	long leg	$818K	$3.1M	20x
BloFin SAGA-USDT	+0.0044%	4h	0.03942	+0.076%	$998K	$432K	20x	as long as short
Hyperliquid SAGAshort	+0.0100%	1h	0.03935	−0.102%	$2.2M	$323K	3x
Aster SAGAUSDT	+0.0100%	4h	0.03942	+0.076%	$71K	$900K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03941	+0.051%	$19.5M	$135.3M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.03947	+0.201%	$3.8M	$18.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03955	+0.406%	$6.1M	$9.1M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.03940	+0.025%	$2.7M	$6.1M	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX SAGA-USDT	+0.0100%	4h	0.03947	+0.203%	—	$2.2M	—	as long as short
Variational Omni SAGA	+0.0100%	4h	0.03921	−0.453%	$4K	$113K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.03938	−0.019%	$3K	$159K	5x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0766%	1h	0.03941	+0.051%	$3K	$28	10x	as long as short