Funding you earn now, next payment 07:00 UTC−0.0297%/8h= −32.5% APRnext payment −$0.37 per $10,000 · paid last 24h −0.054%
Price spread now: Lighter against Phoenix−0.184%104s7-day average −0.089% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as 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−$350.355% of the position
Funding, last 7 days−0.022%−$2 on $10k
+Price spread, last 4 days (all we have)−0.827%−$83 · spread now −0.184%, 7d avg −0.089%
=Together, before fees−0.849%+ Points / potential airdropLighter: Season 3 · farm board−$85 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Lighter is 0.096% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.089%). Swap the legs. The two prices were read 104 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 -0.022% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 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 | 1.0209 | 0.0393 | pay 0.0049% / 1h | 41m 31s | $202K | $400K | 10x |
| Short | Lighter SUI | 1.0190 | 0.0096 | get 0.0012% / 1h | 41m 31s | $768K | $5.1M | 10x |
Phoenix SUI
Lighter SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$62.33
- Price spread: −0.184% → −0.089%
- −$9.56
- Slippage, 4 orders
- −$28.48
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$107.36
- Costs to cover
- 0.355%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 61 min ago; Lighter: 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, 61 min ago | 0.99 bp | 12.4 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 6 min ago | 2.30 bp | 5.0 bp −$5 | 13.8 bp −$138 | 101.1 bp −$10.1K | 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 | −0.2780% | 1h | 1.0068 | −1.379% | $41K | $113K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0381% | 1h | 1.0192 | −0.161% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0320% | 1h | 1.0181 | −0.276% | $5K | $20K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0235% | 1h | 1.0180 | −0.282% | $584K | $427K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0189 | −0.194% | $96K | $257K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0185 | −0.234% | $390K | $4.3M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0196 | −0.125% | $196K | $559K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0193 | −0.155% | $115K | — | 150x | as long as short |
| Lighter SUIshort | +0.0096% | 1h | 1.0190 | −0.184% | $768K | $5.1M | 10x | |
| Lighter RH SUI | +0.0096% | 1h | 1.0189 | −0.190% | $297K | $2.2M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter RH SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex SUIUSDT | +0.0096% | 1h | 1.0187 | −0.214% | $39K | $526K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0192 | −0.165% | $47K | $242K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0188 | −0.203% | $27K | $8K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0183 | −0.248% | $682K | $2.2M | 10x | as long as short |
| Hyperliquid SUI | +0.0100% | 1h | 1.0196 | −0.122% | $73.5M | $78.9M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0189 | −0.196% | $904K | $4.2M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0189 | −0.198% | $217K | $257K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0186 | −0.219% | $146.9M | $998.5M | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0182 | −0.262% | $98.5M | $311.9M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0183 | −0.253% | $41.1M | $370.0M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0190 | −0.184% | $43K | $326K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0171 | −0.375% | $239K | $454 | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0187 | −0.214% | $168.1M | $81.6M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0187 | −0.214% | $155.7M | $282.9M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0189 | −0.194% | $50.2M | $52.2M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0183 | −0.253% | $67.2M | $169.2M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0187 | −0.214% | — | $86.4M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0193 | −0.155% | $676K | $1.4M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0190 | −0.189% | $2.4M | $3.5M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0188 | −0.202% | $164K | $4.3M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0196 | −0.128% | $446K | $7.1M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0191 | −0.174% | $223K | $368K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0204 | −0.047% | $123K | $549K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0207 | −0.018% | $3K | $1.6M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0193 | −0.155% | $7K | $1.7M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0194 | −0.145% | $632K | $18.4M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0191 | −0.174% | $11.8M | $28.2M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0184 | −0.245% | $1.4M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0193 | −0.154% | $39K | $11K | 3x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0118% | 1h | 1.0196 | −0.125% | $6.8M | $21.8M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0144% | 1h | 1.0188 | −0.204% | $8K | $3K | 10x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0177 | −0.311% | $7.6M | $24.5M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0328% | 1h | 1.0210 | +0.012% | $1.0M | $14.5M | 50x | as long as short |
| Phoenix SUIlong | +0.0393% | 1h | 1.0209 | long leg | $202K | $400K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0602% / S −0.0263% | 1h | 1.0194 | −0.147% | $937K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1299% | 1h | 1.0198 | −0.107% | $82K | $409K | 10x | as long as short |
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Hyperliquid SUI
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk 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
Extended SUI-USD
Aevo SUI-PERP
Kraken Futures PF_SUIUSD
01 Exchange SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD