Funding you earn now, next payment 06:00 UTC+0.0331%/8h= +36.2% APRnext payment +$0.41 per $10,000 · paid last 24h +0.049%
Price spread now: Phoenix against Polymarket Perps+0.001%7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$30as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$390.394% of the position
Funding, last 7 days+0.091%+$9 on $10k
+Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.001%, 7d avg +0.044%
=Funding pays, the price is against you. Phoenix is 0.043% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.044%). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.091% in total) that is about 3.3 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 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 | Polymarket Perps SUI-USD | 1.0120 | 0.0100 | pay 0.0013% / 1h | 37m 27s | $125K | $675K | 10x |
| Short | Phoenix SUI | 1.0120 | 0.0431 | get 0.0054% / 1h | 37m 27s | $200K | $413K | 10x |
Polymarket Perps SUI-USD
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $69.42
- Price spread: +0.001% → +0.044%
- −$4.28
- Slippage, 4 orders
- −$24.43
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $25.71
- Costs to cover
- 0.394%
- Break-even
- 4.4 days
Slippage from Polymarket Perps: live order book, 5 min ago; Phoenix: live order book, 5 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 Polymarket Perps live order book, 5 min ago | 2.47 bp | 8.3 bp −$8 | 9.2 bp −$92 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 5 min ago | 0.99 bp | 12.4 bp −$12 | 43.0 bp −$430 | 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 | −0.3536% | 1h | 1.0076 | −0.435% | $41K | $113K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0379% | 1h | 1.0113 | −0.069% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0192% | 1h | 1.0109 | −0.109% | $5K | $21K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0047% | 1h | 1.0099 | −0.208% | $579K | $426K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0111 | −0.086% | $95K | $294K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0117 | −0.032% | $373K | $4.9M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0113 | −0.069% | $194K | $563K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0109 | −0.114% | $114K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0113 | −0.065% | $785K | $5.3M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0118 | −0.018% | $295K | $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 SUI
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 | 1.0114 | −0.059% | $36K | $521K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0111 | −0.089% | $46K | $210K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0111 | −0.084% | $26K | $8K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0111 | −0.089% | $534K | $2.1M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0116 | −0.040% | $893K | $4.3M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0114 | −0.059% | $216K | $261K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0117 | −0.033% | $144.8M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0114 | −0.059% | $98.6M | $317.7M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0116 | −0.040% | $40.7M | $380.3M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0120 | 0.000% | $43K | $329K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0133 | +0.128% | $238K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0113 | −0.069% | $164.9M | $83.1M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0114 | −0.059% | $150.7M | $291.4M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0113 | −0.069% | $49.4M | $53.0M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0109 | −0.109% | $66.6M | $174.0M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0113 | −0.069% | — | $87.2M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0113 | −0.069% | $666K | $1.3M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0123 | +0.027% | $2.4M | $3.5M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0112 | −0.079% | $164K | $4.6M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0123 | +0.030% | $438K | $7.4M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0129 | +0.089% | $222K | $395K | 50x | as long as short |
| Polymarket Perps SUI-USDlong | +0.0100% | 1h | 1.0120 | long leg | $125K | $675K | 10x | |
| SunX SUI-USDT | +0.0100% | 8h | 1.0129 | +0.089% | $2K | $1.6M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0116 | −0.040% | $6K | $1.9M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0113 | −0.069% | $616K | $18.8M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0114 | −0.059% | $11.7M | $28.1M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0110 | −0.094% | $1.4M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0114 | −0.060% | $38K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0192% | 1h | 1.0121 | +0.010% | $9K | $2K | 10x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0119 | −0.010% | $7.6M | $24.5M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0280% | 1h | 1.0117 | −0.030% | $1.0M | $14.8M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0367% | 1h | 1.0116 | −0.040% | $6.8M | $22.9M | 50x | as long as short |
| Phoenix SUIshort | +0.0431% | 1h | 1.0120 | +0.001% | $200K | $413K | 10x | |
| Hyperliquid SUI | +0.0501% | 1h | 1.0126 | +0.059% | $72.8M | $81.7M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0599% / S −0.0263% | 1h | 1.0115 | −0.045% | $929K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1421% | 1h | 1.0134 | +0.134% | $82K | $410K | 10x | as long as short |
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
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
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Extended SUI-USD
Aevo SUI-PERP
01 Exchange SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD