SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.24 per $10,000 · paid last 24h −0.018%

Price spread now: Bulk against Phoenix−0.335%51s7-day average −0.029% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.328% of the position

Long on Phoenix Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 3 days (all we have)−0.005%−$1 · spread now −0.335%, 7d avg −0.029%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bulk is 0.307% cheaper against Phoenix than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.029%). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.047% in total (about -5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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	Phoenix SUI	1.0162	0.0290	pay 0.0036% / 1h	46m 28s	$183K	$578K	10x
Short	Bulk SUI-USD	1.0128	0.0100	get 0.0013% / 1h	46m 28s	$238K	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$39.81
Price spread: −0.335% → −0.029%: −$30.68
Slippage, 4 orders: −$18.79
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$103.29
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from Phoenix: live order book, 41 min ago; Bulk: live order book, 42 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, 41 min ago	0.98 bp	12.3 bp −$12	50.6 bp −$506	doesn't fit	doesn't fit
Sell Bulk live order book, 42 min ago	0.49 bp	4.1 bp −$4	7.5 bp −$75	19.0 bp −$1,903	38.5 bp −$19.2K

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	−0.2398%	1h	1.0055	−1.053%	$41K	$81K	12x	as long as short
Hibachi SUI/USDT-P	−0.0512%	1h	1.0133	−0.281%	$6K	$19K	7x	as long as short
Reya SUIRUSDPERP	−0.0366%	1h	1.0140	−0.216%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0128%	1h	1.0129	−0.325%	$579K	$411K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0022%	1h	1.0141	−0.209%	$6.8M	$23.8M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0137	−0.246%	$92K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0145	−0.170%	$454K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0143	−0.187%	$185K	$547K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0142	−0.194%	$117K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0133	−0.284%	$763K	$5.8M	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	1.0138	−0.240%	$245K	$2.0M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0140	−0.216%	$35K	$504K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0097%	8h	1.0142	−0.197%	$44K	$380K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0137	−0.248%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0131	−0.300%	$592K	$1.4M	10x	as long as short
Hyperliquid SUI	+0.0100%	1h	1.0148	−0.138%	$72.4M	$81.8M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0141	−0.210%	$980K	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0137	−0.247%	$219K	$262K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0141	−0.205%	$150.1M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0143	−0.187%	$102.0M	$307.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0143	−0.187%	$40.7M	$380.8M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0150	−0.118%	$146K	$297K	10x	as long as short
Bulk SUI-USDshort	+0.0100%	1h	1.0128	−0.335%	$238K	$2K	10x
Gate SUI_USDT	+0.0100%	8h	1.0140	−0.216%	$163.2M	$81.0M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0140	−0.216%	$147.3M	$296.6M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0139	−0.226%	$52.9M	$51.3M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0136	−0.256%	$66.7M	$169.4M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0141	−0.207%	—	$81.7M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0139	−0.226%	$637K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0140	−0.221%	$2.2M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0145	−0.166%	$163K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0144	−0.173%	$440K	$7.2M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0138	−0.236%	$230K	$444K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0147	−0.148%	$105K	$796K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0151	−0.108%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0138	−0.236%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0138	−0.236%	$629K	$18.9M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0134	−0.276%	$11.3M	$24.3M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0136	−0.254%	$1.4M	$3.7M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0141	−0.205%	$48K	$38K	3x	as long as short
01 Exchange SUIUSD	+0.0208%	1h	1.0143	−0.187%	$9K	$9K	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0163	+0.010%	$971K	$13.7M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0136	−0.256%	$8.0M	$23.7M	100x	as long as short
Phoenix SUIlong	+0.0290%	1h	1.0162	long leg	$183K	$578K	10x
GMX SUI/USD [ETH-USDC]	L +0.0628% / S −0.0300%	1h	1.0141	−0.210%	$869K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0748%	1h	1.0151	−0.106%	$92K	$379K	10x	as long as short