Funding you earn now, next payment 03:00 UTC+0.0390%/8h= +42.7% APRpaid last 24h +0.069%
Price spread now: Phoenix against Kalshi+0.177%7-day average +0.294% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$540.543% of the position
Funding, last 7 days+0.202%+$20 on $10k
+Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.177%, 7d avg +0.294%
=Funding pays, the price is against you. Phoenix is 0.117% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.177% now, against its 7-day average of +0.294%). If the spread goes back, that is −$12 on $10k: about 24 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.202% in total) that is about 4.0 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kalshi KXSUIPERP | 1.0423 | 0 | get 0.0000% / 8h | 42m 38s | $522K | $4.9M | 2.5x |
| Short | Phoenix SUI | 1.0441 | 0.0390 | get 0.0049% / 1h | 42m 38s | $212K | $421K | 10x |
Kalshi KXSUIPERP
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $81.83
- Price spread: +0.177% → +0.294%
- −$11.67
- Slippage, 4 orders
- −$37.27
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.89
- Costs to cover
- 0.543%
- Break-even
- 5.6 days
Slippage from Kalshi: live order book, 1 min ago; Phoenix: live order book, 14 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, 1 min ago | 9.83 bp | 14.8 bp −$15 | 20.5 bp −$205 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 14 min ago | 0.95 bp | 12.3 bp −$12 | 42.9 bp −$429 | 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 | 1.0316 | −1.026% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0375% | 1h | 1.0407 | −0.154% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0296% | 1h | 1.0429 | +0.055% | $6K | $19K | 7x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0397 | −0.248% | $130K | $227K | 10x | as long as short |
| Kalshi KXSUIPERPlong | 0.0000% | 8h | 1.0423 | long leg | $522K | $4.9M | 2.5x | |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0410 | −0.124% | $202K | $574K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0418 | −0.045% | $113K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0397 | −0.245% | $827K | $5.5M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0397 | −0.247% | $297K | $2.2M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0396 | −0.258% | $40K | $516K | 50x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
dYdX SUI-USD
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUI
Lighter RH SUI
Popdex SUIUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0396 | −0.255% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0409 | −0.138% | $688K | $1.9M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0395 | −0.266% | $910K | $4.6M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0394 | −0.278% | $225K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0397 | −0.244% | $151.4M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0399 | −0.228% | $102.8M | $310.6M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0402 | −0.201% | $41.2M | $389.0M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0400 | −0.220% | $44K | $373K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0390 | −0.316% | $244K | $6K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0395 | −0.268% | $165.6M | $83.0M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0396 | −0.258% | $150.9M | $293.8M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0392 | −0.296% | $49.9M | $54.2M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0392 | −0.296% | $67.9M | $171.5M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0395 | −0.268% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0403 | −0.191% | $680K | $1.4M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0394 | −0.281% | $2.4M | $3.3M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0403 | −0.189% | $170K | $4.6M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0388 | −0.330% | $452K | $7.7M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0399 | −0.229% | $232K | $486K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0418 | −0.047% | $124K | $756K | 10x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0406 | −0.162% | $48K | $192K | 20x | as long as short |
| Bluefin SUI-PERP | +0.0100% | 1h | 1.0391 | −0.306% | $595K | $401K | 25x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0431 | +0.078% | $2K | $1.8M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0409 | −0.133% | $14K | $2.1M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0406 | −0.162% | $575K | $19.7M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0407 | −0.153% | $12.0M | $26.6M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0387 | −0.341% | $1.4M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0415 | −0.078% | $40K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0112% | 1h | 1.0395 | −0.268% | $9K | $3K | 10x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0162% | 1h | 1.0412 | −0.107% | $6.9M | $27.0M | 50x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0216% | 1h | 1.0416 | −0.066% | $995K | $15.0M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0404 | −0.181% | $8.0M | $25.0M | 100x | as long as short |
| Phoenix SUIshort | +0.0390% | 1h | 1.0441 | +0.177% | $212K | $421K | 10x | |
| Hyperliquid SUI | +0.0425% | 1h | 1.0405 | −0.172% | $75.5M | $81.6M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0616% / S −0.0267% | 1h | 1.0413 | −0.091% | $962K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1559% | 1h | 1.0425 | +0.019% | $83K | $396K | 10x | as long as short |
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
Backpack SUI_USDC_PERP
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
Orderly PERP_SUI_USDC
Bluefin SUI-PERP
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
Aevo SUI-PERP
01 Exchange SUIUSD
Kraken Futures PF_SUIUSD
Coinbase International SUI-PERP-INTX
BloFin SUI-USDT
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD