Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0384%/8h= +42.0% APRpaid last 24h +0.159%

Price spread now: Kalshi against Hibachi−0.095%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Funding pays, the price is against you. Kalshi is 0.095% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.095% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 20 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SUI/USDT-P	1.0379	−0.0384	get 0.0048% / 1h	19m 01s	$6K	$19K	7x
Short	Kalshi KXSUIPERP	1.0369	0	get 0.0000% / 8h	2h 19m	$507K	$5.1M	2.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hibachi. 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 HibachibpFee KalshibpOrdersPrice spread, now −0.095%Rate

Funding earned: $80.64
Price spread: −0.095% → 0.000%: −$9.46
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $52.18
Costs to cover: 0.190%
Break-even: 2.5 days

Slippage unknown: Hibachi: no order-book sample; Kalshi: live order book, 5 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	6.89 bp	11.9 bp −$12	19.2 bp −$192	doesn't fit	doesn't fit

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SUI on 45 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	−0.4499%	1h	1.0236	−1.376%	$42K	$123K	12x	as long as short
Hibachi SUI/USDT-Plong	−0.0384%	1h	1.0379	long leg	$6K	$19K	7x
Reya SUIRUSDPERP	−0.0372%	1h	1.0373	−0.053%	$4K	$3K	20x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0368	−0.105%	$94K	$171K	10x	as long as short
Kalshi KXSUIPERPshort	0.0000%	8h	1.0369	−0.095%	$507K	$5.1M	2.5x
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0366	−0.124%	$201K	$578K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0360	−0.181%	$113K	—	150x	as long as short
Kraken Futures PF_SUIUSD	+0.0012%	1h	1.0369	−0.097%	$6.8M	$27.0M	50x	as long as short
Bluefin SUI-PERP	+0.0075%	1h	1.0351	−0.268%	$592K	$416K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0368	−0.109%	$819K	$5.7M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SUI	+0.0096%	1h	1.0367	−0.112%	$276K	$2.1M	10x	as long as short
01 Exchange SUIUSD	+0.0096%	1h	1.0375	−0.037%	$9K	$3K	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0373	−0.056%	$31K	$493K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0370	−0.085%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0378	−0.008%	$750K	$1.9M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0370	−0.085%	$911K	$5.0M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0373	−0.058%	$226K	$269K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0373	−0.056%	$151.7M	$1.05B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0374	−0.048%	$102.9M	$312.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0372	−0.066%	$40.9M	$391.5M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0370	−0.085%	$44K	$373K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0400	+0.204%	$245K	$3K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0367	−0.114%	$164.0M	$84.3M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0360	−0.181%	$150.1M	$300.0M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0372	−0.066%	$51.7M	$53.7M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0373	−0.056%	$67.5M	$171.6M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0376	−0.027%	—	$6.6M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0370	−0.085%	$692K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0378	−0.012%	$2.4M	$3.2M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0373	−0.059%	$169K	$4.7M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0394	+0.147%	$449K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0374	−0.046%	$237K	$501K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0384	+0.050%	$120K	$723K	10x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0363	−0.152%	$47K	$250K	20x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0373	−0.056%	$2K	$1.8M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0365	−0.133%	$7K	$2.2M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0366	−0.124%	$644K	$19.8M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0367	−0.114%	$11.6M	$25.8M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0362	−0.159%	$1.5M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0369	−0.097%	$39K	$16K	3x	as long as short
Coinbase International SUI-PERP-INTX	+0.0152%	1h	1.0372	−0.066%	$995K	$14.6M	50x	as long as short
Hyperliquid SUI	+0.0153%	1h	1.0379	+0.002%	$74.3M	$80.5M	10x	as long as short
Phoenix SUI	+0.0221%	1h	1.0410	+0.301%	$206K	$595K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0614% / S −0.0271%	1h	1.0359	−0.187%	$962K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1060%	1h	1.0375	−0.033%	$79K	$380K	10x	as long as short