Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0468%/8h= +51.2% APRpaid last 24h +0.159%

Price spread now: Phemex against Hibachi−0.058%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 Phemex

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. Phemex is 0.058% cheaper against Hibachi than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 10 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi SUI/USDT-P	1.0175	−0.0368	get 0.0046% / 1h	54m 03s	$5K	$16K	7x
Short	Phemex SUIUSDT	1.0169	0.0100	get 0.0100% / 8h	5h 54m	$11.7M	$28.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.058%Rate

Funding earned: $98.28
Price spread: −0.058% → 0.000%: −$5.8
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: $71.48
Costs to cover: 0.210%
Break-even: 1.9 days

Slippage unknown: Hibachi: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	0.49 bp	9.0 bp −$9	21.8 bp −$218	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 46 exchanges

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	−0.3324%	1h	1.0055	−1.178%	$41K	$113K	12x	as long as short
Reya SUIRUSDPERP	−0.0385%	1h	1.0163	−0.116%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-Plong	−0.0368%	1h	1.0175	long leg	$5K	$16K	7x
Bluefin SUI-PERP	−0.0282%	1h	1.0151	−0.235%	$584K	$407K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0042%	1h	1.0172	−0.031%	$6.9M	$19.6M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0171	−0.039%	$95K	$241K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0184	+0.088%	$379K	$3.7M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0168	−0.068%	$193K	$501K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0164	−0.112%	$116K	—	150x	as long as short
01 Exchange SUIUSD	+0.0024%	1h	1.0171	−0.038%	$8K	$3K	10x	as long as short

Show all 46 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SUI	+0.0096%	1h	1.0169	−0.056%	$739K	$4.5M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0172	−0.031%	$327K	$2.1M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0171	−0.038%	$54K	$517K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0099%	8h	1.0166	−0.087%	$55K	$700K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0167	−0.074%	$27K	$2K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0167	−0.073%	$660K	$2.0M	10x	as long as short
Hyperliquid SUI	+0.0100%	1h	1.0180	+0.050%	$72.9M	$66.0M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0169	−0.058%	$904K	$3.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0172	−0.030%	$216K	$207K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0171	−0.038%	$143.8M	$872.0M	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0168	−0.068%	$97.1M	$269.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0167	−0.078%	$41.2M	$316.1M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0180	+0.050%	$43K	$311K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0190	+0.148%	$233K	$8K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0169	−0.058%	$167.9M	$67.6M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0169	−0.058%	$95.2M	$245.2M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0170	−0.048%	$50.5M	$46.6M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0165	−0.097%	$66.6M	$141.7M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0167	−0.078%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0166	−0.087%	$650K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0171	−0.039%	$2.4M	$2.7M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0192	+0.170%	$164K	$3.8M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0189	+0.140%	$441K	$6.7M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0205	+0.296%	$205K	$385K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0171	−0.038%	$123K	$476K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0184	+0.089%	$2K	$1.3M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0168	−0.068%	$6K	$1.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0168	−0.068%	$753K	$16.8M	75x	as long as short
Phemex SUIUSDTshort	+0.0100%	8h	1.0169	−0.058%	$11.7M	$28.3M	50x
Extended SUI-USD	+0.0104%	1h	1.0161	−0.135%	$1.5M	$3.5M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0168	−0.072%	$39K	$11K	3x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0173	−0.019%	$7.5M	$22.5M	100x	as long as short
Phoenix SUI	+0.0289%	1h	1.0219	+0.436%	$204K	$318K	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0312%	1h	1.0228	+0.522%	$1.0M	$11.3M	50x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0608% / S −0.0268%	1h	1.0166	−0.087%	$947K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0872%	1h	1.0193	+0.175%	$80K	$405K	10x	as long as short