Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0170%/8h= +18.6% APRpaid last 24h +0.026%

Price spread now: Phoenix against Bitget+0.671%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs+$15as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 3 days (all we have)−0.170%−$17 · spread now +0.671%, 7d avg +0.104%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.567% dearer against Bitget than usual: you sell high and buy low: +$57 more if the spread goes back to its 7-day average of +0.104%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUIUSDT	1.0176	0.0100	pay 0.0100% / 8h	2h 57m	$66.9M	$170.7M	75x
Short	Phoenix SUI	1.0244	0.0270	get 0.0034% / 1h	57m 02s	$185K	$577K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now +0.671%Rate

Funding earned: $35.7
Price spread: +0.671% → +0.104%: $56.71
Slippage, 4 orders: −$22.56
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $50.85
Costs to cover: 0.416%
Break-even: from the start

Slippage from Bitget: live order book, 2 min ago; Phoenix: live order book, 30 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 Bitget live order book, 2 min ago	0.49 bp	8.3 bp −$8	12.1 bp −$121	53.9 bp −$5,395	doesn't fit
Sell Phoenix live order book, 30 min ago	0.98 bp	12.3 bp −$12	43.0 bp −$430	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	1.0092	−0.825%	$41K	$81K	12x	as long as short
Hibachi SUI/USDT-P	−0.0496%	1h	1.0184	+0.081%	$6K	$19K	7x	as long as short
Reya SUIRUSDPERP	−0.0366%	1h	1.0170	−0.056%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0164%	1h	1.0160	−0.157%	$582K	$409K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0022%	1h	1.0178	+0.023%	$6.8M	$23.9M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0175	−0.011%	$93K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0168	−0.077%	$453K	$5.6M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0177	+0.010%	$190K	$537K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0175	−0.010%	$118K	—	150x	as long as short
Backpack SUI_USDC_PERP	+0.0039%	1h	1.0175	−0.010%	$639K	$1.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange SUIUSD	+0.0056%	1h	1.0174	−0.020%	$9K	$9K	10x	as long as short
Extended SUI-USD	+0.0080%	1h	1.0180	+0.038%	$1.4M	$3.7M	50x	as long as short
Lighter SUI	+0.0096%	1h	1.0175	−0.011%	$766K	$5.8M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0180	+0.037%	$245K	$2.0M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0170	−0.059%	$33K	$504K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0097%	8h	1.0174	−0.020%	$44K	$383K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0167	−0.093%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0176	+0.005%	$592K	$1.4M	10x	as long as short
Hyperliquid SUI	+0.0100%	1h	1.0183	+0.069%	$72.7M	$83.7M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0178	+0.019%	$986K	$4.6M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0172	−0.041%	$220K	$263K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0179	+0.029%	$150.9M	$1.04B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0182	+0.057%	$103.4M	$308.3M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0181	+0.049%	$40.9M	$384.7M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0180	+0.039%	$147K	$299K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0223	+0.460%	$240K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0172	−0.039%	$163.9M	$80.8M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0179	+0.029%	$147.5M	$295.1M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0174	−0.020%	$52.8M	$50.9M	75x	as long as short
Bitget SUIUSDTlong	+0.0100%	8h	1.0176	long leg	$66.9M	$170.7M	75x
BingX SUI-USDC	+0.0100%	8h	1.0177	+0.010%	—	$6.5M	—	as long as short
Variational Omni SUI	+0.0100%	8h	1.0240	+0.626%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0198	+0.215%	$164K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0189	+0.130%	$441K	$7.2M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0199	+0.226%	$231K	$444K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0178	+0.020%	$106K	$820K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0186	+0.098%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0174	−0.020%	$7K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0171	−0.049%	$631K	$19.0M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0181	+0.049%	$11.4M	$24.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0178	+0.022%	$48K	$38K	3x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0180	+0.039%	$979K	$14.1M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0181	+0.049%	$8.1M	$23.8M	100x	as long as short
Phoenix SUIshort	+0.0270%	1h	1.0244	+0.671%	$185K	$577K	10x
GMX SUI/USD [ETH-USDC]	L +0.0629% / S −0.0300%	1h	1.0173	−0.031%	$872K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0765%	1h	1.0204	+0.274%	$93K	$382K	10x	as long as short