Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%
Price spread now: Backpack against Kalshi−0.013%7-day average +0.176% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$400.400% of the position
Funding, last 7 days+0.201%+$20 on $10k
+Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.013%, 7d avg +0.176%
=Funding pays, the price is against you. Backpack is 0.189% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.176%). If the spread goes back, that is −$19 on $10k: about 6.3 days of funding at the current rate (+$3 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXSUIPERP | 1.0282 | 0 | get 0.0000% / 8h | 5h 36m | $459K | $5.5M | 2.5x |
| Short | Backpack SUI_USDC_PERP | 1.0281 | 0.0100 | get 0.0013% / 1h | 36m 22s | $654K | $1.1M | 20x |
Kalshi KXSUIPERP
Backpack SUI_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $21
- Price spread: −0.013% → +0.176%
- −$18.91
- Slippage, 4 orders
- −$19.98
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$37.89
- Costs to cover
- 0.400%
- Break-even
- 19.6 days
Slippage from Kalshi: live order book, 2 min ago; Backpack: live order book, 3 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 Kalshi live order book, 2 min ago | 9.50 bp | 14.5 bp −$15 | 17.9 bp −$179 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.49 bp | 5.5 bp −$5 | 8.3 bp −$83 | 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 | −0.2926% | 1h | 1.0133 | −1.452% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0368% | 1h | 1.0273 | −0.092% | $4K | $3K | 20x | as long as short |
| Bluefin SUI-PERP | −0.0156% | 1h | 1.0269 | −0.129% | $588K | $407K | 25x | as long as short |
| Hibachi SUI/USDT-P | −0.0112% | 1h | 1.0282 | 0.000% | $6K | $18K | 7x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0277 | −0.055% | $94K | $66K | 10x | as long as short |
| Kalshi KXSUIPERPlong | 0.0000% | 8h | 1.0282 | long leg | $459K | $5.5M | 2.5x | |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0282 | −0.003% | $190K | $562K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0275 | −0.067% | $119K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0282 | +0.001% | $792K | $5.9M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0287 | +0.041% | $255K | $2.0M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Bluefin SUI-PERP
Hibachi SUI/USDT-P
dYdX SUI-USD
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUI
Lighter RH SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex SUIUSDT | +0.0096% | 1h | 1.0276 | −0.061% | $37K | $503K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0098% | 8h | 1.0270 | −0.120% | $45K | $373K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0276 | −0.059% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0276 | −0.061% | $597K | $1.3M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0278 | −0.038% | $1.0M | $4.5M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0280 | −0.021% | $224K | $262K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0275 | −0.071% | $151.8M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0276 | −0.057% | $103.0M | $307.0M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0275 | −0.071% | $41.0M | $383.9M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0290 | +0.075% | $148K | $284K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0303 | +0.199% | $242K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0274 | −0.081% | $165.5M | $80.7M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0276 | −0.061% | $148.6M | $295.4M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0274 | −0.081% | $51.7M | $52.1M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0270 | −0.120% | $67.7M | $168.5M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0275 | −0.071% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERPshort | +0.0100% | 1h | 1.0281 | −0.013% | $654K | $1.1M | 20x | |
| Variational Omni SUI | +0.0100% | 8h | 1.0302 | +0.195% | $2.3M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0300 | +0.173% | $166K | $4.4M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0303 | +0.199% | $446K | $7.0M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0301 | +0.182% | $234K | $441K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0282 | −0.003% | $106K | $788K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0302 | +0.192% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0282 | −0.003% | $6K | $2.4M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0282 | −0.003% | $633K | $18.6M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0281 | −0.013% | $11.5M | $24.6M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0274 | −0.083% | $1.4M | $3.8M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0104% | 1h | 1.0278 | −0.042% | $9K | $9K | 10x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0282 | −0.001% | $49K | $37K | 3x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0282 | −0.003% | $8.0M | $23.9M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0248% | 1h | 1.0295 | +0.124% | $973K | $13.9M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0295% | 1h | 1.0287 | +0.045% | $7.2M | $24.2M | 50x | as long as short |
| Phoenix SUI | +0.0346% | 1h | 1.0319 | +0.360% | $204K | $574K | 10x | as long as short |
| Hyperliquid SUI | +0.0480% | 1h | 1.0289 | +0.065% | $73.3M | $80.9M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0637% / S −0.0309% | 1h | 1.0274 | −0.081% | $897K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0707% | 1h | 1.0289 | +0.065% | $94K | $382K | 10x | as long as short |
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDC
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
01 Exchange SUIUSD
Aevo SUI-PERP
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
Phoenix SUI
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD