Funding you earn now, next payment 21:00 UTC+0.0190%/8h= +20.8% APRnext payment +$0.24 per $10,000 · paid last 24h +0.019%
Price spread now: Phoenix against Backpack+0.136%7-day average +0.099% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$370.366% of the position
Funding, last 7 days−0.022%−$2 on $10k
+Price spread, last 3 days (all we have)+0.154%+$15 · spread now +0.136%, 7d avg +0.099%
=Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.038% dearer against Backpack than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.099%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.022% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack SUI_USDC_PERP | 1.0184 | 0.0100 | pay 0.0013% / 1h | 15m 21s | $648K | $1.2M | 20x |
| Short | Phoenix SUI | 1.0198 | 0.0290 | get 0.0036% / 1h | 15m 21s | $184K | $578K | 10x |
Backpack SUI_USDC_PERP
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $39.81
- Price spread: +0.136% → +0.099%
- $3.77
- Slippage, 4 orders
- −$19.57
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $7.01
- Costs to cover
- 0.366%
- Break-even
- 5.8 days
Slippage from Backpack: live order book, 4 min ago; Phoenix: live order book, 7 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 Backpack live order book, 4 min ago | 0.98 bp | 6.0 bp −$6 | 8.3 bp −$83 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 7 min ago | 0.98 bp | 12.3 bp −$12 | 42.9 bp −$429 | doesn't fit | doesn't fit |
SUI on 46 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective SUI/USDC PERP | −0.2398% | 1h | 1.0068 | −1.139% | $41K | $123K | 12x | as long as short |
| Hibachi SUI/USDT-P | −0.0496% | 1h | 1.0187 | +0.029% | $6K | $18K | 7x | as long as short |
| Reya SUIRUSDPERP | −0.0367% | 1h | 1.0194 | +0.099% | $4K | $3K | 20x | as long as short |
| Bluefin SUI-PERP | −0.0123% | 1h | 1.0185 | +0.010% | $583K | $405K | 25x | as long as short |
| Kraken Futures PF_SUIUSD | −0.0022% | 1h | 1.0202 | +0.176% | $7.0M | $24.0M | 50x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0194 | +0.098% | $93K | $66K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0200 | +0.159% | $458K | $5.5M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0201 | +0.167% | $186K | $546K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0199 | +0.144% | $118K | — | 150x | as long as short |
| 01 Exchange SUIUSD | +0.0088% | 1h | 1.0198 | +0.137% | $9K | $9K | 10x | as long as short |
Injective SUI/USDC PERP
Hibachi SUI/USDT-P
Reya SUIRUSDPERP
Bluefin SUI-PERP
Kraken Futures PF_SUIUSD
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
01 Exchange SUIUSDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SUI | +0.0096% | 1h | 1.0197 | +0.130% | $771K | $5.9M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0203 | +0.182% | $252K | $2.0M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0196 | +0.118% | $36K | $503K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0098% | 8h | 1.0196 | +0.118% | $45K | $377K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0195 | +0.112% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0194 | +0.103% | $595K | $1.3M | 10x | as long as short |
| Hyperliquid SUI | +0.0100% | 1h | 1.0205 | +0.206% | $72.6M | $81.9M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0195 | +0.108% | $999K | $4.5M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0198 | +0.133% | $220K | $261K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0197 | +0.132% | $151.2M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0200 | +0.153% | $102.2M | $306.8M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0198 | +0.137% | $40.9M | $382.5M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0200 | +0.157% | $147K | $297K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0193 | +0.088% | $240K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0195 | +0.108% | $164.2M | $81.2M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0199 | +0.147% | $147.6M | $298.9M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0195 | +0.108% | $52.4M | $51.4M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0193 | +0.088% | $67.0M | $169.0M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0197 | +0.128% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERPlong | +0.0100% | 1h | 1.0184 | long leg | $648K | $1.2M | 20x | |
| Variational Omni SUI | +0.0100% | 8h | 1.0188 | +0.040% | $2.2M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0190 | +0.059% | $164K | $4.5M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0183 | −0.007% | $440K | $7.1M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0192 | +0.079% | $231K | $444K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0201 | +0.167% | $106K | $785K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0210 | +0.255% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0196 | +0.118% | $6K | $2.4M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0198 | +0.137% | $621K | $18.8M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0198 | +0.137% | $11.4M | $24.5M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0196 | +0.115% | $1.4M | $3.7M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0197 | +0.124% | $48K | $37K | 3x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0216% | 1h | 1.0207 | +0.226% | $978K | $13.8M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0199 | +0.147% | $8.0M | $23.7M | 100x | as long as short |
| Phoenix SUIshort | +0.0290% | 1h | 1.0198 | +0.136% | $184K | $578K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0630% / S −0.0300% | 1h | 1.0197 | +0.129% | $874K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0681% | 1h | 1.0188 | +0.040% | $91K | $382K | 10x | as long as short |
Lighter SUI
Lighter RH SUI
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Hyperliquid SUI
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDC
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
Aevo SUI-PERP
Coinbase International SUI-PERP-INTX
BloFin SUI-USDT
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD