Funding arb · Price arb /

SAGA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0780%/8h= −85.4% APRpaid last 24h −0.094%

Price spread now: Kraken Futures against Variational Omni+0.755%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kraken Futures is 0.755% dearer against Variational Omni than usual: you sell high and buy low (spread +0.755% now, against zero (this spread has no 7-day history yet)): +$76 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SAGA	0.04006	0.0145	pay 0.0073% / 4h	1h 00m	$6K	$41K	—
Short	Kraken Futures PF_SAGAUSD	0.04037	−0.0635	pay 0.0079% / 1h	0m 11s	$72K	$561K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.755%Rate

Funding earned: −$163.84
Price spread: +0.755% → 0.000%: $75.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$98.33
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: live order book, 43 min ago. Net counts fees only.

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 Variational Omni no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 43 min ago	45.84 bp	77.9 bp −$78	doesn't fit	doesn't fit	doesn't fit

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hyperliquid SAGA	−0.1258%	1h	0.04014	+0.193%	$2.2M	$263K	3x	as long as short
Kraken Futures PF_SAGAUSDshort	−0.0635%	1h	0.04037	+0.755%	$72K	$561K	20x
KuCoin SAGAUSDTM	+0.0002%	4h	0.04033	+0.668%	$802K	$2.7M	20x	as long as short
Aster SAGAUSDT	+0.0100%	4h	0.04035	+0.728%	$60K	$714K	5x	as long as short
Binance SAGAUSDT	+0.0100%	4h	0.04037	+0.775%	$19.8M	$100.8M	20x	as long as short
Gate SAGA_USDT	+0.0100%	4h	0.04048	+1.042%	$6.1M	$7.6M	20x	as long as short
MEXC SAGA_USDT	+0.0100%	4h	0.04036	+0.743%	$2.8M	$4.5M	50x	as long as short
Extended SAGA-USD	+0.0104%	1h	0.04031	+0.606%	$2K	$178K	5x	as long as short
Bybit SAGAUSDT	+0.0124%	4h	0.04038	+0.805%	$3.9M	$15.3M	20x	as long as short
Variational Omni SAGAlong	+0.0145%	4h	0.04006	long leg	$6K	$41K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin SAGA-USDT	+0.0151%	4h	0.04000	−0.156%	$1.0M	$272K	20x	as long as short
BingX SAGA-USDT	+0.0160%	4h	0.04043	+0.917%	—	$2.0M	—	as long as short
Coinbase International SAGA-PERP-INTX	+0.0296%	1h	0.04021	+0.368%	$42K	$384K	25x	as long as short
Deribit SAGA_USDC-PERPETUAL	+0.1238%	1h	0.04038	+0.793%	$3K	—	10x	as long as short