SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0346%/8h= −37.8% APRnext payment −$0.43 per $10,000 · paid last 24h −0.028%

Price spread now: Deribit against Phoenix−0.172%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 3 days (all we have)+0.350%+$35 · spread now −0.172%, 7d avg −0.037%

Together, before fees+0.359%+$36 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 Deribit is 0.134% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.009% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 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	1.0317	0.0346	pay 0.0043% / 1h	38m 44s	$204K	$574K	10x
Short	Deribit SUI_USDC-PERPETUAL	1.0299	0	get 0.0000% / 1h	38m 44s	$191K	$569K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.172%Rate

Funding earned: −$72.56
Price spread: −0.172% → −0.037%: −$13.41
Slippage, 4 orders: −$26.24
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$126.21
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Phoenix: live order book, 44 min ago; Deribit: live order book, 45 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, 44 min ago	0.98 bp	12.3 bp −$12	50.5 bp −$505	doesn't fit	doesn't fit
Sell Deribit live order book, 45 min ago	3.44 bp	7.9 bp −$8	14.9 bp −$149	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	−1.781%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0368%	1h	1.0298	−0.176%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0166%	1h	1.0286	−0.298%	$589K	$407K	25x	as long as short
Hibachi SUI/USDT-P	−0.0104%	1h	1.0300	−0.160%	$6K	$18K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0307	−0.091%	$94K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0315	−0.018%	$460K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUALshort	0.0000%	1h	1.0299	−0.172%	$191K	$569K	25x
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0298	−0.176%	$119K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0310	−0.067%	$795K	$5.9M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0309	−0.075%	$256K	$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	1.0297	−0.191%	$37K	$503K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0098%	8h	1.0296	−0.201%	$45K	$375K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0309	−0.072%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0305	−0.113%	$599K	$1.3M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0305	−0.110%	$1.0M	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0307	−0.093%	$224K	$262K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0306	−0.102%	$152.3M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0311	−0.057%	$103.4M	$306.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0307	−0.094%	$41.1M	$385.0M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0310	−0.065%	$149K	$284K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0303	−0.135%	$242K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0305	−0.113%	$166.0M	$80.6M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0307	−0.094%	$148.9M	$295.2M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0306	−0.104%	$51.9M	$52.2M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0293	−0.230%	$67.8M	$168.7M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0305	−0.113%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0294	−0.220%	$654K	$1.1M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0302	−0.139%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0300	−0.165%	$166K	$4.4M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0302	−0.139%	$445K	$7.0M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0304	−0.123%	$234K	$441K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0306	−0.104%	$106K	$787K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0314	−0.026%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0297	−0.191%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0293	−0.230%	$628K	$18.7M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0297	−0.191%	$11.5M	$24.6M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0307	−0.092%	$1.4M	$3.8M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0303	−0.129%	$49K	$37K	3x	as long as short
01 Exchange SUIUSD	+0.0112%	1h	1.0300	−0.162%	$9K	$9K	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0293	−0.230%	$8.0M	$23.9M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0316	−0.007%	$978K	$13.9M	50x	as long as short
Kraken Futures PF_SUIUSD	+0.0295%	1h	1.0300	−0.164%	$7.2M	$24.2M	50x	as long as short
Phoenix SUIlong	+0.0346%	1h	1.0317	long leg	$204K	$574K	10x
Hyperliquid SUI	+0.0480%	1h	1.0313	−0.036%	$73.5M	$80.9M	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0638% / S −0.0309%	1h	1.0298	−0.184%	$899K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0693%	1h	1.0298	−0.185%	$94K	$381K	10x	as long as short