SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0250%/8h= +27.3% APRnext payment +$0.31 per $10,000 · paid last 24h +0.023%

Price spread now: Phoenix against Lighter+0.650%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs+$23as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 3 days (all we have)−0.510%−$51 · spread now +0.650%, 7d avg +0.074%

Together, before fees−0.528%+ Points / potential airdropLighter: Season 3 · farm board−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.576% dearer against Lighter than usual: you sell high and buy low: +$58 more if the spread goes back to its 7-day average of +0.074%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.018% in total (about -0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 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	Lighter SUI	1.0253	0.0096	pay 0.0012% / 1h	34m 31s	$787K	$5.9M	10x
Short	Phoenix SUI	1.0319	0.0346	get 0.0043% / 1h	34m 31s	$204K	$574K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Lighter. 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 LighterbpFee PhoenixbpOrdersPrice spread, now +0.650%Rate

Funding earned: $52.4
Price spread: +0.650% → +0.074%: $57.57
Slippage, 4 orders: −$27.43
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $75.54
Costs to cover: 0.344%
Break-even: from the start

Slippage from Lighter: live order book, 4 min ago; Phoenix: live order book, 48 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 Lighter live order book, 4 min ago	2.19 bp	3.6 bp −$4	13.7 bp −$137	doesn't fit	doesn't fit
Sell Phoenix live order book, 48 min ago	0.98 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	−0.2926%	1h	1.0133	−1.167%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0368%	1h	1.0242	−0.100%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0148%	1h	1.0252	−0.007%	$587K	$407K	25x	as long as short
Hibachi SUI/USDT-P	−0.0120%	1h	1.0264	+0.106%	$6K	$18K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0250	−0.028%	$93K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0265	+0.125%	$458K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0266	+0.130%	$190K	$562K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0264	+0.113%	$119K	—	150x	as long as short
Lighter SUIlong	+0.0096%	1h	1.0253	long leg	$787K	$5.9M	10x
Lighter RH SUI	+0.0096%	1h	1.0256	+0.034%	$258K	$2.0M	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	1.0241	−0.114%	$37K	$503K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0098%	8h	1.0263	+0.100%	$45K	$371K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0251	−0.019%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0247	−0.051%	$596K	$1.3M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0254	+0.013%	$1.0M	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0252	−0.011%	$223K	$262K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0239	−0.134%	$151.0M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0239	−0.132%	$102.6M	$307.0M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0239	−0.134%	$41.0M	$382.7M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0250	−0.026%	$148K	$284K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0303	+0.488%	$242K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0248	−0.046%	$164.8M	$80.7M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0243	−0.095%	$148.8M	$295.7M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0245	−0.075%	$51.5M	$52.1M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0237	−0.153%	$67.5M	$168.4M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0251	−0.017%	—	$81.8M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0258	+0.052%	$650K	$1.1M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0282	+0.289%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0284	+0.309%	$166K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0280	+0.270%	$445K	$7.0M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0301	+0.471%	$234K	$441K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0250	−0.026%	$106K	$790K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0277	+0.237%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0259	+0.061%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0260	+0.071%	$631K	$18.7M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0258	+0.052%	$11.5M	$24.7M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0246	−0.067%	$1.4M	$3.8M	50x	as long as short
01 Exchange SUIUSD	+0.0104%	1h	1.0238	−0.143%	$9K	$9K	10x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0268	+0.145%	$49K	$37K	3x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0260	+0.071%	$7.9M	$23.8M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0271	+0.178%	$971K	$13.8M	50x	as long as short
Kraken Futures PF_SUIUSD	+0.0296%	1h	1.0264	+0.113%	$7.2M	$24.2M	50x	as long as short
Phoenix SUIshort	+0.0346%	1h	1.0319	+0.650%	$204K	$574K	10x
Hyperliquid SUI	+0.0479%	1h	1.0254	+0.013%	$73.1M	$81.0M	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0637% / S −0.0309%	1h	1.0263	+0.096%	$897K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0723%	1h	1.0284	+0.305%	$94K	$381K	10x	as long as short