Question 1

Which exchange has the highest SAGA funding rate right now?

Accepted Answer

Coinbase International shows the highest SAGA funding at +1743.56% annualized. A high positive rate means shorts get paid, so this is the venue to short SAGA when running a funding-arbitrage pair. Rates change every settlement window — check the live screener for the current value.

Question 2

Which exchange is best to long SAGA for funding?

Accepted Answer

Aster has the lowest SAGA funding at -51.79% annualized, which makes the long leg cheapest (or paid). Pair it with the highest-funding venue to capture the spread delta-neutral.

Question 3

What is the best SAGA funding-arbitrage pair?

Accepted Answer

The widest spread is long Aster / short Coinbase International at about 1795.3% APR before costs. Verify it in the ORBIT backtester, which subtracts real fees and slippage, before sizing a position.

Question 4

How often does SAGA funding settle?

Accepted Answer

SAGA funding settles on different schedules by venue (1h, 4h). Longer intervals concentrate the same annualized rate into fewer, larger payments. ORBIT normalizes every venue to a common APR so they are directly comparable.

Question 5

Is SAGA funding positive or negative?

Accepted Answer

SAGA funding is mixed across venues, ranging -51.79% to +1743.56% APR — which is exactly what creates the cross-exchange arbitrage opportunity.

Question 6

What is the current SAGA perpetual swap funding rate?

Accepted Answer

The current SAGA perpetual swap funding rate ranges from -51.79% to +1743.56% annualized depending on the exchange — Aster is lowest and Coinbase International is highest right now. There is no single SAGA funding rate: every venue runs its own funding formula and order book, which is why the rate has to be read by exchange rather than as one number.

Question 7

What is the aggregated SAGA funding rate across exchanges?

Accepted Answer

Aggregated across the 20 venues ORBIT tracks, SAGA funding currently spans -51.79% to +1743.56% APR, a spread of 1795.3 percentage points. An aggregated average hides the part that matters for trading — the gap between the cheapest and dearest venue — so the table above lists each exchange separately.

Question 8

How do I read the SAGA 8h funding rate versus the annualized rate?

Accepted Answer

SAGA does not settle on an 8-hour schedule on the venues tracked here. Because intervals differ by exchange, comparing raw per-payment rates is misleading; ORBIT normalizes each venue to annualized APR so the numbers are directly comparable.

Exchange	Funding APR↓	Interval	Open Interest↕	Mark Price↕
Coinbase InternationalBest Short	+1743.56%	1h	$24K	$0.025
Bybit	+10.96%	4h	$2.2M	$0.0247
Hyperliquid	+10.96%	1h	$408K	$0.0247
Gate.io	+10.96%	4h	$697K	$0.0248
dreamcash	+10.96%	1h	$408K	$0.0247
Ventuals	+10.96%	1h	$408K	$0.0247
KuCoin	+8.33%	4h	$752K	$0.0247
Variational	-6.53%	4h	$8K	$0.0247
Bitunix	-14.93%	4h	—	$0.0247
BingX	-20.38%	4h	$1.3M	$0.0247
Extended	-35.06%	1h	$5K	$0.0247
LBank	-35.91%	4h	—	$0.0247
Pionex	-36.55%	4h	$81K	$0.0247
WEEX	-36.64%	4h	$5.1M	$0.0247
BloFin	-36.81%	4h	$423K	$0.0247
MEXC	-37.04%	4h	$3.1M	$0.0247
Binance Futures	-37.06%	4h	$7.6M	$0.0247
Toobit	-37.06%	4h	$802K	$0.0247
CoinW	-37.06%	4h	—	$0.0247
AsterBest Long	-51.79%	4h	$31K	$0.0247

SAGA Perpetual Swap Funding Rate by Exchange

How SAGA funding actually paid this week

Funding Rates by Exchange

Funding Rates by Exchange

SAGA funding rates explained

Frequently asked questions