Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.107%

Price spread now: Nado against Hyperliquid−0.095%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Hyperliquid Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.161%−$16 on $10k

Price spread, last 3 days (all we have)+0.253%+$25 · spread now −0.095%, 7d avg −0.104%

Together, before fees+0.091%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board+$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SUI	1.0143	0.0100	pay 0.0013% / 1h	38m 25s	$72.2M	$81.8M	10x
Short	Nado SUI-PERP	1.0133	0.0100	get 0.0012% / 1h	38m 25s	$590K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Hyperliquid. 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 HyperliquidbpFee NadobpOrdersPrice spread, now −0.095%Rate

Funding earned: $0
Price spread: −0.095% → −0.104%: $0.94
Slippage, 4 orders: −$12.29
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.35
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Nado: live order book, just now.

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 Hyperliquid live order book, 5 min ago	0.49 bp	7.9 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell Nado live order book, just now	0.99 bp	7.2 bp −$7	19.0 bp −$190	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	−0.2398%	1h	1.0041	−1.007%	$41K	$81K	12x	as long as short
Hibachi SUI/USDT-P	−0.0504%	1h	1.0140	−0.026%	$6K	$19K	7x	as long as short
Reya SUIRUSDPERP	−0.0366%	1h	1.0134	−0.091%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0125%	1h	1.0130	−0.129%	$580K	$410K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0022%	1h	1.0124	−0.184%	$6.8M	$23.8M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0134	−0.094%	$92K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0153	+0.096%	$454K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0126	−0.169%	$185K	$547K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0140	−0.031%	$117K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0132	−0.106%	$763K	$5.8M	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SUI	+0.0096%	1h	1.0139	−0.041%	$245K	$2.0M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0135	−0.080%	$35K	$504K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0097%	8h	1.0140	−0.031%	$44K	$379K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0137	−0.064%	$27K	$9K	30x	as long as short
Nado SUI-PERPshort	+0.0100%	1h	1.0133	−0.095%	$590K	$1.3M	10x
Hyperliquid SUIlong	+0.0100%	1h	1.0143	long leg	$72.2M	$81.8M	10x
Aster SUIUSDT	+0.0100%	8h	1.0136	−0.074%	$980K	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0136	−0.067%	$219K	$262K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0140	−0.034%	$150.1M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0142	−0.012%	$101.8M	$307.4M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0142	−0.011%	$40.7M	$380.6M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0140	−0.031%	$146K	$297K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0139	−0.036%	$238K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0139	−0.040%	$163.1M	$81.0M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0134	−0.090%	$148.0M	$297.3M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0136	−0.070%	$53.1M	$51.3M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0131	−0.119%	$66.6M	$169.3M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0139	−0.040%	—	$81.6M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0121	−0.218%	$638K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0139	−0.045%	$2.2M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0139	−0.045%	$163K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0131	−0.118%	$438K	$7.1M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0142	−0.011%	$230K	$444K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0141	−0.021%	$105K	$796K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0133	−0.100%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0121	−0.218%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0120	−0.228%	$627K	$18.9M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0125	−0.178%	$11.3M	$24.4M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0139	−0.036%	$1.4M	$3.7M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0142	−0.016%	$48K	$37K	3x	as long as short
01 Exchange SUIUSD	+0.0144%	1h	1.0137	−0.060%	$9K	$9K	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0145	+0.019%	$973K	$13.7M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0122	−0.208%	$7.9M	$23.6M	100x	as long as short
Phoenix SUI	+0.0290%	1h	1.0151	+0.083%	$183K	$578K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0629% / S −0.0300%	1h	1.0139	−0.035%	$869K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0729%	1h	1.0147	+0.037%	$92K	$378K	10x	as long as short