Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.3240%/8h= −354.7% APRpaid last 24h −0.907%

Price spread now: Injective against Kalshi−1.518%66s7-day average −0.117% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.560%−$356 on $10k

Price spread, last 4 days (all we have)+0.773%+$77 · spread now −1.518%, 7d avg −0.117%

Together, before fees−2.787%−$279 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$97 a day on $10k at the current rate, and Injective is 1.400% cheaper against Kalshi than usual: you would sell low and buy high (−$140 if the spread goes back to its 7-day average of −0.117%). Swap the legs. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSUIPERP	1.0148	0	get 0.0000% / 8h	3h 45m	$375K	$4.2M	2.5x
Short	Injective SUI/USDC PERP	0.9994	−0.3240	pay 0.0405% / 1h	45m 39s	$41K	$113K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now −1.518%Rate

Funding earned: −$680.33
Price spread: −1.518% → −0.117%: −$140.02
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$830.36
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 3 min ago; Injective: live order book, 53 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 Kalshi live order book, 3 min ago	8.76 bp	13.8 bp −$14	17.2 bp −$172	doesn't fit	doesn't fit
Sell Injective live order book, 53 min ago	53.40 bp	doesn't fit	doesn't fit	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 PERPshort	−0.3240%	1h	0.9994	−1.518%	$41K	$113K	12x
Reya SUIRUSDPERP	−0.0382%	1h	1.0143	−0.054%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0208%	1h	1.0146	−0.020%	$5K	$17K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0148	+0.003%	$95K	$258K	10x	as long as short
Kalshi KXSUIPERPlong	0.0000%	8h	1.0148	long leg	$375K	$4.2M	2.5x
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0148	0.000%	$195K	$536K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0144	−0.039%	$114K	—	150x	as long as short
Bluefin SUI-PERP	+0.0081%	1h	1.0135	−0.128%	$581K	$452K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0150	+0.021%	$749K	$4.8M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0153	+0.049%	$302K	$2.1M	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	1.0147	−0.010%	$43K	$529K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0145	−0.030%	$47K	$437K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0149	+0.005%	$27K	$8K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0139	−0.089%	$673K	$2.2M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0151	+0.027%	$904K	$4.3M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0151	+0.031%	$216K	$251K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0150	+0.023%	$145.3M	$982.4M	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0147	−0.007%	$97.7M	$306.1M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0147	−0.010%	$41.0M	$363.7M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0150	+0.020%	$43K	$321K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0149	+0.008%	$232K	$7K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0146	−0.020%	$167.6M	$79.1M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0150	+0.020%	$100.2M	$287.2M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0151	+0.030%	$51.6M	$51.5M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0144	−0.039%	$67.0M	$166.9M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0148	0.000%	—	$88.0M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0151	+0.030%	$665K	$1.3M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0148	−0.002%	$2.4M	$3.3M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0143	−0.045%	$164K	$4.2M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0147	−0.010%	$442K	$7.0M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0149	+0.010%	$205K	$371K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0146	−0.020%	$122K	$519K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0163	+0.148%	$2K	$1.6M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0148	0.000%	$6K	$1.6M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0148	0.000%	$634K	$18.2M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0144	−0.039%	$11.7M	$28.2M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0143	−0.045%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0146	−0.017%	$39K	$11K	3x	as long as short
01 Exchange SUIUSD	+0.0112%	1h	1.0154	+0.059%	$8K	$3K	10x	as long as short
Hyperliquid SUI	+0.0119%	1h	1.0156	+0.079%	$73.2M	$77.5M	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0141	−0.069%	$7.5M	$24.4M	100x	as long as short
Kraken Futures PF_SUIUSD	+0.0283%	1h	1.0153	+0.051%	$6.8M	$21.5M	50x	as long as short
Coinbase International SUI-PERP-INTX	+0.0360%	1h	1.0169	+0.207%	$1.0M	$14.3M	50x	as long as short
Phoenix SUI	+0.0426%	1h	1.0158	+0.099%	$202K	$395K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0600% / S −0.0263%	1h	1.0145	−0.033%	$933K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1219%	1h	1.0151	+0.033%	$82K	$408K	10x	as long as short