Funding arb · Price arb /

SAGA

all SAGA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0508%/8h= −55.6% APRpaid last 24h −0.838%

Price spread now: Coinbase International against MEXC−0.579%7-day average −1.528% · you buy dearer than you sell

Net, funding: paid 7d − costs−$856as in the Funding arb table

Net, price: spread back to 7d avg − costs−$304as in the Price arb table

costs, in and out, $10k−$3993.992% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−4.572%−$457 on $10k

Price spread, last 3 days (all we have)+0.344%+$34 · spread now −0.579%, 7d avg −1.528%

Together, before fees−4.227%−$423 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.949% dearer against MEXC than usual: you sell high and buy low (spread −0.579% now, against its 7-day average of −1.528%): +$95 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 7 days (−4.572% in total) that is about 35 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.04145	0.0100	pay 0.0050% / 4h	3h 32m	$3.1M	$7.4M	50x
Short	Coinbase International SAGA-PERP-INTX	0.04121	−0.0408	pay 0.0051% / 1h	32m 34s	$54K	$455K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.579%Rate

Funding earned: −$106.68
Price spread: −0.579% → −1.528%: $94.86
Slippage, 4 orders: −$385.23
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$411.05
Costs to cover: 3.992%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Coinbase International: live order book, 16 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, 1 min ago	2.41 bp	18.4 bp −$18	101.0 bp −$1,010	680.4 bp −$68.0K	doesn't fit
Sell Coinbase International live order book, 16 min ago	45.47 bp	135.9 bp −$136	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
Coinbase International SAGA-PERP-INTXshort	−0.0408%	1h	0.04121	−0.579%	$54K	$455K	25x
Hyperliquid SAGA	−0.0315%	1h	0.04126	−0.458%	$2.3M	$345K	3x	as long as short
BloFin SAGA-USDT	+0.0094%	4h	0.04130	−0.362%	$1.1M	$588K	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04143	−0.041%	$70K	$1.0M	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04141	−0.099%	$20.7M	$155.6M	20x	as long as short
Bybit SAGAUSDT	+0.0100%	4h	0.04141	−0.087%	$4.1M	$22.6M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04155	+0.241%	$6.4M	$9.5M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.04145	long leg	$3.1M	$7.4M	50x
KuCoin SAGAUSDTM	+0.0100%	4h	0.04142	−0.072%	$936K	$3.2M	20x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04146	+0.027%	$3K	$159K	5x	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	+0.0382%	4h	0.04144	−0.024%	—	$2.3M	—	as long as short
Variational Omni SAGA	+0.0569%	4h	0.04139	−0.154%	$6K	$122K	—	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1204%	1h	0.04133	−0.290%	$3K	$28	10x	as long as short
Kraken Futures PF_SAGAUSD	+0.1548%	1h	0.04132	−0.315%	$85K	$729K	20x	as long as short