SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0269%/8h= +29.4% APRnext payment +$0.34 per $10,000 · paid last 24h +0.059%

Price spread now: Phoenix against Deribit−0.314%70s7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.473% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now −0.314%, 7d avg +0.055%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.369% cheaper against Deribit than usual: you would sell low and buy high (spread −0.314% now, against its 7-day average of +0.055%). If the spread goes back, that is −$37 on $10k: about 4.6 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.025% in total) that is about 3 months. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.34 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	Deribit SUI_USDC-PERPETUAL	1.0074	0.0147	pay 0.0018% / 1h	22m 09s	$196K	$562K	25x
Short	Phoenix SUI	1.0042	0.0416	get 0.0052% / 1h	22m 09s	$199K	$422K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now −0.314%Rate

Funding earned: $56.43
Price spread: −0.314% → +0.055%: −$36.88
Slippage, 4 orders: −$33.31
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$27.77
Costs to cover: 0.473%
Break-even: 10.4 days

Slippage from Deribit: live order book, 27 min ago; Phoenix: live order book, 25 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 Deribit live order book, 27 min ago	6.83 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 25 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	−0.218%	$41K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0378%	1h	1.0056	−0.178%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0152%	1h	1.0020	−0.534%	$5K	$19K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0047	−0.268%	$94K	$294K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0055	−0.188%	$371K	$5.1M	2.5x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0061	−0.125%	$113K	—	150x	as long as short
Bluefin SUI-PERP	+0.0030%	1h	1.0058	−0.159%	$577K	$432K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0074	0.000%	$775K	$5.5M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0079	+0.051%	$298K	$2.2M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0057	−0.169%	$31K	$545K	50x	as long as short

Show 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	−0.050%	$47K	$210K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0043	−0.305%	$26K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0051	−0.223%	$544K	$2.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0072	−0.022%	$881K	$4.3M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0049	−0.250%	$218K	$257K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0076	+0.020%	$144.8M	$1.05B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0074	−0.004%	$98.2M	$318.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0082	+0.079%	$41.0M	$386.5M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0060	−0.139%	$43K	$330K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0045	−0.288%	$236K	$3K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0059	−0.149%	$164.4M	$84.9M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0075	+0.010%	$149.2M	$293.9M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0074	0.000%	$49.2M	$53.5M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0072	−0.020%	$66.4M	$177.7M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0064	−0.099%	—	$82.9M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0031	−0.427%	$637K	$1.4M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0001	−0.726%	$2.4M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0016	−0.574%	$161K	$4.6M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0032	−0.417%	$439K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0015	−0.586%	$220K	$436K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0065	−0.089%	$133K	$727K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0072	−0.020%	$2K	$1.7M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0073	−0.010%	$6K	$2.0M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0079	+0.050%	$609K	$19.4M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0071	−0.030%	$11.6M	$27.8M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0068	−0.057%	$1.4M	$4.0M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0080	+0.065%	$38K	$11K	3x	as long as short
01 Exchange SUIUSD	+0.0112%	1h	1.0058	−0.159%	$9K	$3K	10x	as long as short
Deribit SUI_USDC-PERPETUALlong	+0.0147%	1h	1.0074	long leg	$196K	$562K	25x
Kraken Futures PF_SUIUSD	+0.0174%	1h	1.0078	+0.044%	$6.7M	$25.0M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0026	−0.476%	$7.5M	$24.2M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0055	−0.189%	$954K	$14.8M	50x	as long as short
Hyperliquid SUI	+0.0362%	1h	1.0069	−0.050%	$72.3M	$83.2M	10x	as long as short
Phoenix SUIshort	+0.0416%	1h	1.0042	−0.314%	$199K	$422K	10x
GMX SUI/USD [ETH-USDC]	L +0.0597% / S −0.0263%	1h	1.0060	−0.136%	$924K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1445%	1h	1.0056	−0.179%	$81K	$409K	10x	as long as short