Funding you earn now, next payment 23:00 UTC+0.0307%/8h= +33.7% APRnext payment +$0.38 per $10,000 · paid last 24h +0.080%
Price spread now: Hyperliquid against Phoenix−0.051%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$380.377% of the position
Funding, last 7 days+0.173%+$17 on $10k
+Price spread, last 3 days (all we have)−0.029%−$3 · spread now −0.051%, 7d avg +0.019%
=Together, before fees+0.144%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.070% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of +0.019%). If the spread goes back, that is −$7 on $10k: about 18 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.173% in total) that is about 2.8 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.173% in total (about 9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.38 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 | 1.0389 | 0.0327 | pay 0.0041% / 1h | 10m 45s | $206K | $593K | 10x |
| Short | Hyperliquid SUI | 1.0384 | 0.0634 | get 0.0079% / 1h | 10m 45s | $75.3M | $81.1M | 10x |
Phoenix SUI
Hyperliquid SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $64.54
- Price spread: −0.051% → +0.019%
- −$6.96
- Slippage, 4 orders
- −$21.68
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $19.9
- Costs to cover
- 0.377%
- Break-even
- 4.8 days
Slippage from Phoenix: live order book, 67 min ago; Hyperliquid: live order book, 3 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, 67 min ago | 0.98 bp | 12.3 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 3 min ago | 0.48 bp | 6.3 bp −$6 | 12.5 bp −$125 | 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 | −0.3474% | 1h | 1.0288 | −0.975% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0370% | 1h | 1.0343 | −0.450% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0352% | 1h | 1.0361 | −0.274% | $6K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0067% | 1h | 1.0336 | −0.513% | $592K | $406K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0344 | −0.440% | $95K | $175K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0354 | −0.340% | $463K | $5.3M | 2.5x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0344 | −0.434% | $119K | — | 150x | as long as short |
| Deribit SUI_USDC-PERPETUAL | +0.0040% | 1h | 1.0352 | −0.359% | $201K | $587K | 25x | as long as short |
| 01 Exchange SUIUSD | +0.0088% | 1h | 1.0341 | −0.465% | $9K | $9K | 10x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0349 | −0.388% | $794K | $5.9M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
gTrade (Gains Network) SUI/USD
Deribit SUI_USDC-PERPETUAL
01 Exchange SUIUSD
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 | 1.0355 | −0.334% | $261K | $2.0M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0337 | −0.503% | $40K | $494K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0346 | −0.417% | $46K | $327K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0340 | −0.478% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0335 | −0.518% | $656K | $1.4M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0370 | −0.189% | $1.0M | $4.7M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0345 | −0.424% | $224K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0366 | −0.220% | $153.2M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0370 | −0.184% | $104.2M | $307.8M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0367 | −0.215% | $41.5M | $388.1M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0340 | −0.475% | $46K | $387K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0369 | −0.195% | $167.1M | $81.7M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0367 | −0.215% | $150.3M | $292.4M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0369 | −0.195% | $51.4M | $52.7M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0365 | −0.234% | $68.4M | $168.2M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0367 | −0.215% | — | $81.8M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0348 | −0.398% | $663K | $1.1M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0342 | −0.455% | $2.3M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0357 | −0.311% | $168K | $4.4M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0360 | −0.282% | $453K | $7.1M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0359 | −0.292% | $236K | $444K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0350 | −0.378% | $108K | $773K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0371 | −0.176% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0351 | −0.369% | $7K | $2.3M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0342 | −0.455% | $646K | $18.5M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0348 | −0.398% | $11.6M | $25.0M | 50x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0359 | −0.292% | $244K | $2K | 10x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0364 | −0.248% | $1.4M | $3.8M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0354 | −0.335% | $49K | $37K | 3x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0351 | −0.369% | $8.0M | $24.2M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0224% | 1h | 1.0341 | −0.465% | $976K | $13.9M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0273% | 1h | 1.0354 | −0.336% | $7.2M | $24.2M | 50x | as long as short |
| Phoenix SUIlong | +0.0327% | 1h | 1.0389 | long leg | $206K | $593K | 10x | |
| Hyperliquid SUIshort | +0.0634% | 1h | 1.0384 | −0.051% | $75.3M | $81.1M | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0640% / S −0.0307% | 1h | 1.0343 | −0.449% | $900K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0829% | 1h | 1.0363 | −0.251% | $94K | $382K | 10x | as long as short |
Lighter RH SUI
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDT
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
Bulk SUI-USD
Extended SUI-USD
Aevo SUI-PERP
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD