Funding you earn now, next payment 21:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h −0.018%
Price spread now: Bybit against Phoenix−0.213%65s7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$420.417% of the position
Funding, last 7 days−0.045%−$5 on $10k
+Price spread, last 3 days (all we have)−0.277%−$28 · spread now −0.213%, 7d avg −0.089%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.123% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.089%). Swap the legs. The two prices were read 65 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 7 days it paid -0.045% in total (about -2.4% 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 | 1.0162 | 0.0290 | pay 0.0036% / 1h | 48m 27s | $183K | $578K | 10x |
| Short | Bybit SUIUSDT | 1.0140 | 0.0100 | get 0.0100% / 8h | 2h 48m | $102.0M | $307.7M | 50x |
Phoenix SUI
Bybit SUIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. 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
- −$39.81
- Price spread: −0.213% → −0.089%
- −$12.31
- Slippage, 4 orders
- −$23.72
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$93.85
- Costs to cover
- 0.417%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 39 min ago; Bybit: live order book, 6 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, 39 min ago | 0.98 bp | 12.3 bp −$12 | 50.6 bp −$506 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 6 min ago | 0.99 bp | 8.6 bp −$9 | 16.8 bp −$168 | 40.8 bp −$4,077 | 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 | −0.2398% | 1h | 1.0055 | −1.053% | $41K | $81K | 12x | as long as short |
| Hibachi SUI/USDT-P | −0.0504% | 1h | 1.0144 | −0.178% | $6K | $19K | 7x | as long as short |
| Reya SUIRUSDPERP | −0.0366% | 1h | 1.0136 | −0.257% | $4K | $3K | 20x | as long as short |
| Bluefin SUI-PERP | −0.0129% | 1h | 1.0126 | −0.354% | $579K | $412K | 25x | as long as short |
| Kraken Futures PF_SUIUSD | −0.0022% | 1h | 1.0149 | −0.132% | $6.8M | $23.9M | 50x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0143 | −0.186% | $92K | $66K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0142 | −0.198% | $454K | $5.5M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0148 | −0.138% | $185K | $547K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0140 | −0.219% | $117K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0142 | −0.201% | $763K | $5.8M | 10x | as long as short |
Injective SUI/USDC PERP
Hibachi SUI/USDT-P
Reya SUIRUSDPERP
Bluefin SUI-PERP
Kraken Futures PF_SUIUSD
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH SUI | +0.0096% | 1h | 1.0147 | −0.151% | $245K | $2.0M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0139 | −0.226% | $34K | $504K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0097% | 8h | 1.0140 | −0.216% | $44K | $381K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0141 | −0.208% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0145 | −0.167% | $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 | 1.0142 | −0.200% | $982K | $4.5M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0146 | −0.158% | $219K | $262K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0140 | −0.218% | $150.1M | $1.03B | 75x | as long as short |
| Bybit SUIUSDTshort | +0.0100% | 8h | 1.0140 | −0.213% | $102.0M | $307.7M | 50x | |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0139 | −0.226% | $40.7M | $381.0M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0150 | −0.118% | $146K | $299K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0128 | −0.335% | $238K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0137 | −0.246% | $163.1M | $80.9M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0137 | −0.246% | $146.9M | $296.0M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0137 | −0.246% | $53.1M | $51.3M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0133 | −0.285% | $66.7M | $169.6M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0138 | −0.236% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0142 | −0.197% | $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 | 1.0151 | −0.106% | $163K | $4.5M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0141 | −0.207% | $442K | $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 | 1.0146 | −0.157% | $105K | $796K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0155 | −0.069% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0145 | −0.167% | $6K | $2.4M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0142 | −0.197% | $630K | $18.9M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0138 | −0.236% | $11.3M | $24.3M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0138 | −0.239% | $1.4M | $3.7M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0147 | −0.153% | $48K | $38K | 3x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0216% | 1h | 1.0163 | +0.010% | $971K | $13.9M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0150 | −0.118% | $8.0M | $23.7M | 100x | as long as short |
| 01 Exchange SUIUSD | +0.0224% | 1h | 1.0142 | −0.197% | $9K | $9K | 10x | 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 | 1.0138 | −0.233% | $869K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0752% | 1h | 1.0157 | −0.054% | $92K | $380K | 10x | as long as short |
Lighter RH SUI
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Hyperliquid SUI
Aster SUIUSDT
Pacifica SUI
Binance 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
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
Aevo SUI-PERP
Coinbase International SUI-PERP-INTX
BloFin SUI-USDT
01 Exchange SUIUSD
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD