Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0324%/8hnext payment −$0.40 per $10,000 · paid last 24h −0.011%

Price spread now: SoDEX against Kraken Futures−0.052%7-day average −0.025% · 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−$39as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Kraken Futures Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$3 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.052%, 7d avg −0.025%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and SoDEX is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.035% in total (about -4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 per $10,000. 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	Kraken Futures PF_SUIUSD	1.0222	0.0424	pay 0.0053% / 1h	5m 14s	$6.9M	$23.8M	50x
Short	SoDEX SUI-USD	1.0217	0.0100	get 0.0013% / 1h	5m 14s	$7K	$2.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Kraken Futures. 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 Kraken FuturesbpFee SoDEXbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$67.95
Price spread: −0.052% → −0.025%: −$2.71
Slippage, 4 orders: −$17.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$106.52
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SoDEX: 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 Kraken Futures live order book, 3 min ago	1.47 bp	9.9 bp −$10	16.4 bp −$164	42.0 bp −$4,202	doesn't fit
Sell SoDEX live order book, 3 min ago	0.49 bp	8.1 bp −$8	16.6 bp −$166	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	−0.3420%	1h	1.0092	−1.274%	$41K	$42K	12x	as long as short
Hibachi SUI/USDT-P	−0.0456%	1h	1.0204	−0.175%	$6K	$19K	7x	as long as short
Reya SUIRUSDPERP	−0.0364%	1h	1.0210	−0.119%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0108%	1h	1.0202	−0.198%	$584K	$411K	25x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0210	−0.120%	$93K	$101K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0215	−0.074%	$470K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0218	−0.042%	$198K	$512K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0214	−0.076%	$120K	—	150x	as long as short
01 Exchange SUIUSD	+0.0080%	1h	1.0220	−0.022%	$8K	$8K	10x	as long as short
Lighter SUI	+0.0096%	1h	1.0220	−0.018%	$804K	$5.9M	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	1.0221	−0.012%	$249K	$2.0M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0213	−0.091%	$35K	$503K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0096%	8h	1.0213	−0.091%	$44K	$390K	20x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0214	−0.081%	$599K	$1.4M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0213	−0.088%	$1.0M	$4.6M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0210	−0.122%	$222K	$261K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0218	−0.042%	$151.9M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0224	+0.015%	$105.3M	$306.0M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0220	−0.022%	$41.6M	$384.3M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0210	−0.120%	$96K	$249K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0191	−0.307%	$240K	−$0	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0222	−0.003%	$165.5M	$81.3M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0220	−0.022%	$150.9M	$289.0M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0219	−0.032%	$52.1M	$48.6M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0217	−0.052%	$70.0M	$169.7M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0221	−0.012%	—	$79.8M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0223	+0.007%	$644K	$1.1M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0208	−0.135%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0196	−0.254%	$166K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0207	−0.153%	$442K	$6.9M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0209	−0.130%	$245K	$437K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0219	−0.032%	$107K	$811K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0224	+0.017%	$3K	$1.9M	30x	as long as short
SoDEX SUI-USDshort	+0.0100%	1h	1.0217	−0.052%	$7K	$2.4M	10x
HTX SUI-USDT	+0.0100%	8h	1.0208	−0.140%	$632K	$18.9M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0217	−0.052%	$11.4M	$23.8M	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0209	−0.134%	$27K	$9K	30x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0210	−0.116%	$1.5M	$3.8M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0213	−0.095%	$48K	$38K	3x	as long as short
Hyperliquid SUI	+0.0214%	1h	1.0231	+0.085%	$73.5M	$83.3M	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0223	+0.007%	$1.0M	$14.2M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0209	−0.130%	$8.2M	$23.2M	100x	as long as short
Phoenix SUI	+0.0300%	1h	1.0216	−0.057%	$184K	$576K	10x	as long as short
Kraken Futures PF_SUIUSDlong	+0.0424%	1h	1.0222	long leg	$6.9M	$23.8M	50x
GMX SUI/USD [ETH-USDC]	L +0.0596% / S −0.0225%	1h	1.0214	−0.080%	$745K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0885%	1h	1.0216	−0.058%	$121K	$363K	10x	as long as short