Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.186%

Price spread now: Orderly against Hibachi−0.400%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 Orderly

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. Orderly is 0.400% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.400% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$40 on $10k: about 3.5 days of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SUI/USDT-P	1.0400	−0.0280	get 0.0035% / 1h	59m 36s	$6K	$19K	7x
Short	Orderly PERP_SUI_USDC	1.0358	0.0100	get 0.0100% / 8h	5h 59m	$47K	$243K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.400%Rate

Funding earned: $79.8
Price spread: −0.400% → 0.000%: −$39.95
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: $24.85
Costs to cover: 0.150%
Break-even: 4.8 days

Slippage unknown: Hibachi: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Hibachi and Orderly: 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	1.0252	−1.419%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0373%	1h	1.0359	−0.387%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-Plong	−0.0280%	1h	1.0400	long leg	$6K	$19K	7x
dYdX SUI-USD	0.0000%	1h	1.0375	−0.236%	$95K	$169K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0377	−0.218%	$521K	$4.9M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0356	−0.419%	$201K	$577K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0362	−0.361%	$113K	—	150x	as long as short
Kraken Futures PF_SUIUSD	+0.0012%	1h	1.0357	−0.407%	$6.8M	$26.9M	50x	as long as short
Bluefin SUI-PERP	+0.0054%	1h	1.0346	−0.515%	$592K	$413K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0378	−0.204%	$818K	$5.5M	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	1.0383	−0.162%	$277K	$2.1M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0371	−0.274%	$31K	$501K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0373	−0.254%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0367	−0.313%	$717K	$1.9M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0367	−0.314%	$909K	$4.8M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0377	−0.217%	$226K	$266K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0373	−0.251%	$151.7M	$1.04B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0384	−0.147%	$103.0M	$309.0M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0375	−0.236%	$41.0M	$385.3M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0370	−0.284%	$44K	$373K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0351	−0.467%	$243K	$4K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0371	−0.274%	$164.2M	$82.2M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0375	−0.236%	$150.5M	$289.0M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0373	−0.255%	$50.5M	$53.7M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0367	−0.313%	$67.4M	$168.7M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0373	−0.255%	—	$82.1M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0350	−0.476%	$707K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0383	−0.162%	$2.4M	$3.2M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0405	+0.051%	$169K	$4.7M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0385	−0.139%	$455K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0409	+0.091%	$237K	$472K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0378	−0.207%	$121K	$729K	10x	as long as short
Orderly PERP_SUI_USDCshort	+0.0100%	8h	1.0358	−0.400%	$47K	$243K	20x
SunX SUI-USDT	+0.0100%	8h	1.0383	−0.159%	$2K	$1.8M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0356	−0.419%	$6K	$2.1M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0355	−0.428%	$595K	$19.8M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0366	−0.323%	$11.6M	$25.9M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0369	−0.293%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0358	−0.400%	$39K	$16K	3x	as long as short
01 Exchange SUIUSD	+0.0112%	1h	1.0368	−0.303%	$9K	$3K	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0152%	1h	1.0362	−0.361%	$974K	$14.5M	50x	as long as short
Phoenix SUI	+0.0221%	1h	1.0426	+0.254%	$207K	$595K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0626% / S −0.0278%	1h	1.0359	−0.385%	$978K	—	100x	as long as short
Hyperliquid SUI	+0.0637%	1h	1.0394	−0.054%	$74.9M	$80.2M	10x	as long as short
Aftermath Perps SUIUSD	+0.1123%	1h	1.0382	−0.172%	$82K	$383K	10x	as long as short