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 −0.077%

Price spread now: KuCoin against MEXC−0.050%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$261as in the Price arb table

costs, in and out, $10k−$2562.559% of the position

Long on MEXC Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days+0.152%+$15 · spread now −0.050%, 7d avg +0.006%

Together, before fees+0.182%+$18 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: KuCoin is 0.056% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SAGA_USDT	0.03988	0.0100	pay 0.0050% / 4h	3h 13m	$2.6M	$4.2M	50x
Short	KuCoin SAGAUSDTM	0.03986	0.0100	get 0.0050% / 4h	3h 13m	$768K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → +0.006%: −$5.57
Slippage, 4 orders: −$239.9
Fee MEXC: 2 bp × 2 orders: −$4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$261.47
Costs to cover: 2.559%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; KuCoin: live order book, 3 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, 4 min ago	1.26 bp	16.1 bp −$16	107.5 bp −$1,075	722.7 bp −$72.3K	doesn't fit
Sell KuCoin live order book, 3 min ago	20.23 bp	100.8 bp −$101	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	−0.0700%	1h	0.03971	−0.425%	$74K	$636K	20x	as long as short
Hyperliquid SAGA	+0.0100%	1h	0.03982	−0.150%	$2.2M	$254K	3x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.03984	−0.104%	$69K	$757K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.03986	−0.050%	$19.6M	$98.3M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.03997	+0.226%	$6.0M	$7.7M	20x	as long as short
MEXC SAGA_USDTlong	+0.0100%	4h	0.03988	long leg	$2.6M	$4.2M	50x
KuCoin SAGAUSDTMshort	+0.0100%	4h	0.03986	−0.050%	$768K	$2.6M	20x
Extended SAGA-USD	+0.0104%	1h	0.03983	−0.130%	$4K	$201K	5x	as long as short
BloFin SAGA-USDT	+0.0159%	4h	0.03953	−0.878%	$1.0M	$213K	20x	as long as short
Coinbase International SAGA-PERP-INTX	+0.0248%	1h	0.03955	−0.827%	$44K	$384K	25x	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	+0.0529%	4h	0.03963	−0.629%	$4K	$45K	—	as long as short
BingX SAGA-USDT	+0.0828%	4h	0.03995	+0.176%	—	$2.0M	—	as long as short
Bybit SAGAUSDT	+0.0909%	4h	0.03989	+0.035%	$3.9M	$14.3M	20x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.2273%	1h	0.03974	−0.351%	$3K	$28	10x	as long as short