Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0246%/8h= −26.9% APRpaid last 24h −0.035%

Price spread now: Binance against Phoenix+0.170%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$360.358% of the position

Long on Phoenix Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 3 days (all we have)−0.350%−$35 · spread now +0.170%, 7d avg −0.096%

Together, before fees−0.376%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.266% dearer against Phoenix than usual: you sell high and buy low (spread +0.170% now, against its 7-day average of −0.096%): +$27 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.027% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.027% in total (about -1.4% 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	Phoenix SUI	1.0274	0.0346	pay 0.0043% / 1h	57m 09s	$203K	$574K	10x
Short	Binance SUIUSDT	1.0292	0.0100	get 0.0100% / 8h	57m 09s	$151.3M	$1.02B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phoenix. 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 PhoenixbpFee BinancebpOrdersPrice spread, now +0.170%Rate

Funding earned: −$51.56
Price spread: +0.170% → −0.096%: $26.59
Slippage, 4 orders: −$18.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$60.76
Costs to cover: 0.358%
Break-even: never at this rate

Slippage from Phoenix: live order book, 21 min ago; Binance: live order book, 2 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 Phoenix live order book, 21 min ago	0.98 bp	12.3 bp −$12	50.7 bp −$507	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	0.49 bp	5.6 bp −$6	7.9 bp −$79	22.7 bp −$2,267	85.7 bp −$42.9K

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	−0.3474%	1h	1.0167	−1.045%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0369%	1h	1.0294	+0.192%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0328%	1h	1.0289	+0.138%	$6K	$19K	7x	as long as short
Bluefin SUI-PERP	−0.0017%	1h	1.0284	+0.093%	$589K	$404K	25x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0298	+0.225%	$94K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0302	+0.272%	$459K	$5.4M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0297	+0.220%	$200K	$596K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0296	+0.212%	$119K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0295	+0.201%	$791K	$5.9M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0298	+0.231%	$260K	$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	1.0295	+0.200%	$37K	$499K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0099%	8h	1.0294	+0.191%	$45K	$330K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0299	+0.244%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0297	+0.225%	$594K	$1.4M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0297	+0.216%	$1.0M	$4.6M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0300	+0.245%	$223K	$262K	10x	as long as short
Binance SUIUSDTshort	+0.0100%	8h	1.0292	+0.170%	$151.3M	$1.02B	75x
Bybit SUIUSDT	+0.0100%	8h	1.0293	+0.181%	$103.3M	$307.2M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0288	+0.132%	$41.3M	$383.8M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0300	+0.249%	$46K	$387K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0269	−0.053%	$242K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0293	+0.181%	$165.3M	$80.4M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0294	+0.191%	$149.1M	$288.3M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0290	+0.152%	$51.6M	$52.1M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0290	+0.152%	$68.0M	$168.4M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0293	+0.181%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0293	+0.181%	$654K	$1.1M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0258	−0.158%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0269	−0.054%	$168K	$4.4M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0268	−0.066%	$445K	$6.9M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0268	−0.062%	$233K	$441K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0302	+0.269%	$108K	$786K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0307	+0.317%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0294	+0.191%	$7K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0294	+0.191%	$638K	$18.5M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0288	+0.132%	$11.5M	$24.7M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0291	+0.161%	$1.4M	$3.7M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0295	+0.196%	$49K	$37K	3x	as long as short
01 Exchange SUIUSD	+0.0128%	1h	1.0299	+0.239%	$9K	$9K	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0292	+0.171%	$7.9M	$23.8M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0224%	1h	1.0301	+0.259%	$982K	$14.0M	50x	as long as short
Kraken Futures PF_SUIUSD	+0.0274%	1h	1.0298	+0.227%	$7.2M	$24.0M	50x	as long as short
Phoenix SUIlong	+0.0346%	1h	1.0274	long leg	$203K	$574K	10x
Hyperliquid SUI	+0.0631%	1h	1.0308	+0.327%	$73.8M	$80.3M	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0637% / S −0.0309%	1h	1.0297	+0.217%	$899K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0780%	1h	1.0280	+0.056%	$93K	$381K	10x	as long as short