Diffusion Transformers (DiTs) are essential for video generation but suffer from significant latency due to the quadratic complexity of attention. By computing only critical tokens, sparse attention reduces computational costs and offers a promising acceleration approach. However, we identify that existing methods fail to approach optimal generation quality under the same computation budget for two reasons: (1) Inaccurate critical token identification: current methods cluster tokens based on position rather than semantics, leading to imprecise aggregated representations. (2) Excessive computation waste: critical tokens are scattered among non-critical ones, leading to wasted computation on GPUs, which are optimized for processing contiguous tokens. In this paper, we propose SVG2, a training-free framework that maximizes identification accuracy and minimizes computation waste, achieving a Pareto frontier trade-off between generation quality and efficiency. The core of SVG2 is semantic-aware permutation, which clusters and reorders tokens based on semantic similarity using k-means. This approach ensures both a precise cluster representation, improving identification accuracy, and a densified layout of critical tokens, enabling efficient computation without padding. Additionally, SVG2 integrates Top-p dynamic budget control and customized kernel implementations, achieving up to $2.30\times$ and $1.89\times$ speedup while maintaining a PSNR of up to $30$ and $26$ on HunyuanVideo and Wan 2.1, respectively. Our code is open-sourced at https://github.com/svg-project/Sparse-VideoGen.