Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.052%

Price spread now: BingX against MEXC+0.173%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$830.829% of the position

Long on MEXC Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 7 days−0.121%−$12 · spread now +0.173%, 7d avg +0.032%

Together, before fees−0.064%−$6 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: BingX is 0.141% dearer against MEXC than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.04048	0.0100	pay 0.0050% / 4h	11m 56s	$2.7M	$4.4M	50x
Short	BingX SAGA-USDT	0.04055	0.0100	get 0.0050% / 4h	11m 56s	—	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against MEXC. 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 MEXCbpFee BingXbpOrdersPrice spread, now +0.173%Rate

Funding earned: $0
Price spread: +0.173% → +0.032%: $14.14
Slippage, 4 orders: −$68.87
Fee MEXC: 2 bp × 2 orders: −$4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$68.73
Costs to cover: 0.829%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; BingX: live order book, 1 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 MEXC live order book, 5 min ago	1.23 bp	18.0 bp −$18	100.1 bp −$1,001	715.6 bp −$71.6K	doesn't fit
Sell BingX live order book, 1 min ago	1.23 bp	32.6 bp −$33	62.8 bp −$628	471.9 bp −$47.2K	1090.8 bp −$545.4K

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	−0.0426%	1h	0.04051	+0.074%	$77K	$553K	20x	as long as short
KuCoin SAGAUSDTM	−0.0056%	4h	0.04055	+0.173%	$825K	$2.7M	20x	as long as short
BloFin SAGA-USDT	+0.0067%	4h	0.04055	+0.173%	$1.0M	$287K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.04040	−0.198%	$2.2M	$257K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04055	+0.170%	$65K	$699K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04050	+0.049%	$19.8M	$99.9M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04052	+0.091%	$3.9M	$15.5M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04076	+0.692%	$6.1M	$7.5M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.04048	long leg	$2.7M	$4.4M	50x
BingX SAGA-USDTshort	+0.0100%	4h	0.04055	+0.173%	—	$2.0M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni SAGA	+0.0100%	4h	0.04043	−0.134%	$4K	$43K	—	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04051	+0.072%	$3K	$182K	5x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0448%	1h	0.04098	+1.235%	$42K	$386K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.0739%	1h	0.04050	+0.049%	$3K	$124	10x	as long as short