Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0373%/8h= +40.9% APRpaid last 24h +0.135%

Price spread now: Hyperliquid against Kalshi−0.021%7-day average +0.163% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on Kalshi Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.380%+$38 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.021%, 7d avg +0.163%

Together, before fees+0.368%+ Points / potential airdropHyperliquid: Season 2 · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.184% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.163%). If the spread goes back, that is −$18 on $10k: about 39 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.380% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSUIPERP	1.0384	0	get 0.0000% / 8h	0m 16s	$495K	$5.0M	2.5x
Short	Hyperliquid SUI	1.0382	0.0373	get 0.0047% / 1h	0m 16s	$75.2M	$81.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Kalshi. 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 KalshibpFee HyperliquidbpOrdersPrice spread, now −0.021%Rate

Funding earned: $78.36
Price spread: −0.021% → +0.163%: −$18.41
Slippage, 4 orders: −$22.79
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $18.16
Costs to cover: 0.418%
Break-even: 5.4 days

Slippage from Kalshi: live order book, 3 min ago; Hyperliquid: 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, 3 min ago	8.57 bp	13.6 bp −$14	18.5 bp −$185	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.96 bp	6.8 bp −$7	14.8 bp −$148	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	−0.3244%	1h	1.0251	−1.283%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0376%	1h	1.0385	+0.012%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0328%	1h	1.0378	−0.059%	$6K	$19K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0385	+0.007%	$130K	$227K	10x	as long as short
Kalshi KXSUIPERPlong	0.0000%	8h	1.0384	long leg	$495K	$5.0M	2.5x
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0384	−0.002%	$202K	$573K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0382	−0.017%	$116K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0384	−0.005%	$801K	$5.6M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0379	−0.052%	$300K	$2.2M	10x	as long as short
01 Exchange SUIUSD	+0.0096%	1h	1.0392	+0.075%	$9K	$2K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex SUIUSDT	+0.0096%	1h	1.0386	+0.017%	$42K	$515K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0389	+0.042%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0380	−0.036%	$585K	$2.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0390	+0.057%	$909K	$4.6M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0391	+0.065%	$225K	$259K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0374	−0.102%	$150.4M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0369	−0.151%	$102.0M	$310.4M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0365	−0.185%	$40.9M	$388.6M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0390	+0.056%	$44K	$330K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0339	−0.435%	$243K	$6K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0371	−0.127%	$169.1M	$84.6M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0369	−0.146%	$152.8M	$299.1M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0367	−0.166%	$49.9M	$53.9M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0364	−0.195%	$67.7M	$172.6M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0368	−0.156%	—	$82.6M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0371	−0.127%	$661K	$1.4M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0383	−0.015%	$2.5M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0377	−0.069%	$170K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0378	−0.057%	$453K	$7.6M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0393	+0.085%	$230K	$431K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0396	+0.114%	$124K	$749K	10x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0383	−0.012%	$48K	$150K	20x	as long as short
Bluefin SUI-PERP	+0.0100%	1h	1.0372	−0.117%	$594K	$406K	25x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0370	−0.137%	$3K	$1.7M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0375	−0.089%	$14K	$2.1M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0371	−0.127%	$593K	$19.7M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0376	−0.079%	$11.9M	$26.8M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0376	−0.082%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0382	−0.018%	$39K	$11K	3x	as long as short
Kraken Futures PF_SUIUSD	+0.0162%	1h	1.0378	−0.056%	$6.8M	$27.0M	50x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0398	+0.133%	$976K	$15.0M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0385	+0.008%	$7.9M	$24.9M	100x	as long as short
Hyperliquid SUIshort	+0.0373%	1h	1.0382	−0.021%	$75.2M	$81.4M	10x
Phoenix SUI	+0.0390%	1h	1.0401	+0.159%	$211K	$421K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0613% / S −0.0267%	1h	1.0382	−0.025%	$959K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1511%	1h	1.0384	−0.001%	$83K	$400K	10x	as long as short