Funding you earn now, next payment 05:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.045%
Price spread now: Phoenix against Bybit−0.493%7-day average +0.106% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 7 days+0.074%+$7 on $10k
+Price spread, last 4 days (all we have)+0.666%+$67 · spread now −0.493%, 7d avg +0.106%
=Funding pays, the price is against you. Phoenix is 0.599% cheaper against Bybit than usual: you would sell low and buy high (spread −0.493% now, against its 7-day average of +0.106%). If the spread goes back, that is −$60 on $10k: about 6.3 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.074% in total) that is about 57 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.074% in total (about 3.8% a year). A funding rate is set anew for every payment. 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 | Bybit SUIUSDT | 1.0088 | 0.0100 | pay 0.0100% / 8h | 2h 21m | $98.3M | $318.9M | 50x |
| Short | Phoenix SUI | 1.0038 | 0.0416 | get 0.0052% / 1h | 21m 31s | $199K | $422K | 10x |
Bybit SUIUSDT
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $66.3
- Price spread: −0.493% → +0.106%
- −$59.9
- Slippage, 4 orders
- −$24.13
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$35.74
- Costs to cover
- 0.421%
- Break-even
- 10.8 days
Slippage from Bybit: live order book, 3 min ago; Phoenix: live order book, 26 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 Bybit live order book, 3 min ago | 0.50 bp | 7.2 bp −$7 | 12.6 bp −$126 | 34.0 bp −$3,396 | doesn't fit |
| Sell Phoenix live order book, 26 min ago | 0.98 bp | 12.4 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 | −0.3309% | 1h | 1.0052 | −0.357% | $41K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0378% | 1h | 1.0087 | −0.005% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0160% | 1h | 1.0055 | −0.323% | $5K | $19K | 7x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0079 | −0.087% | $94K | $294K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0055 | −0.326% | $371K | $5.1M | 2.5x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0061 | −0.264% | $113K | — | 150x | as long as short |
| Bluefin SUI-PERP | +0.0030% | 1h | 1.0058 | −0.297% | $577K | $432K | 25x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0083 | −0.050% | $775K | $5.5M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0086 | −0.019% | $298K | $2.2M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0093 | +0.050% | $31K | $545K | 50x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
dYdX SUI-USD
Kalshi KXSUIPERP
gTrade (Gains Network) SUI/USD
Bluefin SUI-PERP
Lighter SUI
Lighter RH SUI
Popdex SUIUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0069 | −0.188% | $47K | $210K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0080 | −0.074% | $26K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0089 | +0.015% | $545K | $2.1M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0089 | +0.010% | $882K | $4.3M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0086 | −0.018% | $219K | $257K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0092 | +0.040% | $145.0M | $1.05B | 75x | as long as short |
| Bybit SUIUSDTlong | +0.0100% | 8h | 1.0088 | long leg | $98.3M | $318.9M | 50x | |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0093 | +0.050% | $41.0M | $386.8M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0100 | +0.119% | $43K | $330K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0045 | −0.427% | $236K | $3K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0087 | −0.010% | $164.9M | $84.9M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0090 | +0.020% | $149.3M | $294.1M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0081 | −0.069% | $49.2M | $53.5M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0086 | −0.020% | $66.4M | $177.7M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0090 | +0.020% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0081 | −0.069% | $640K | $1.4M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0001 | −0.864% | $2.4M | $3.4M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0028 | −0.599% | $161K | $4.6M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0038 | −0.496% | $434K | $7.5M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0026 | −0.615% | $221K | $436K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0097 | +0.089% | $133K | $726K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0072 | −0.159% | $2K | $1.7M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0073 | −0.149% | $6K | $2.0M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0079 | −0.089% | $609K | $19.4M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0071 | −0.169% | $11.6M | $27.8M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0084 | −0.038% | $1.4M | $4.0M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0080 | −0.074% | $38K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0120% | 1h | 1.0094 | +0.059% | $9K | $3K | 10x | as long as short |
| Deribit SUI_USDC-PERPETUAL | +0.0147% | 1h | 1.0074 | −0.139% | $196K | $562K | 25x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0174% | 1h | 1.0078 | −0.095% | $6.7M | $25.0M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0026 | −0.615% | $7.5M | $24.2M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0248% | 1h | 1.0055 | −0.327% | $954K | $14.8M | 50x | as long as short |
| Hyperliquid SUI | +0.0369% | 1h | 1.0101 | +0.129% | $72.5M | $83.2M | 10x | as long as short |
| Phoenix SUIshort | +0.0416% | 1h | 1.0038 | −0.493% | $199K | $422K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0597% / S −0.0263% | 1h | 1.0060 | −0.275% | $924K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1445% | 1h | 1.0056 | −0.317% | $81K | $409K | 10x | as long as short |
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDC
Backpack SUI_USDC_PERP
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
01 Exchange SUIUSD
Deribit SUI_USDC-PERPETUAL
Kraken Futures PF_SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD