Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.029%

Price spread now: Kalshi against Popdex+0.051%7-day average −0.157% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Popdex Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.051%, 7d avg −0.157%

Together, before fees−0.173%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.208% dearer against Popdex than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.157%): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex SUIUSDT	1.0175	0.0096	pay 0.0012% / 1h	55m 10s	$54K	$516K	50x
Short	Kalshi KXSUIPERP	1.0180	0	get 0.0000% / 8h	1h 55m	$380K	$3.8M	2.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Popdex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PopdexbpFee KalshibpOrdersPrice spread, now +0.051%Rate

Funding earned: −$20.16
Price spread: +0.051% → −0.157%: $20.79
Slippage, 4 orders: −$29.14
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$44.92
Costs to cover: 0.455%
Break-even: never at this rate

Slippage from Popdex: live order book, 56 min ago; Kalshi: live order book, 1 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 Popdex live order book, 56 min ago	2.02 bp	8.2 bp −$8	29.0 bp −$290	doesn't fit	doesn't fit
Sell Kalshi live order book, 1 min ago	8.84 bp	13.8 bp −$14	17.3 bp −$173	31.6 bp −$3,156	doesn't fit

SUI on 46 exchanges

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	−0.3324%	1h	1.0055	−1.179%	$41K	$113K	12x	as long as short
Reya SUIRUSDPERP	−0.0385%	1h	1.0167	−0.077%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0368%	1h	1.0175	−0.001%	$5K	$16K	7x	as long as short
Bluefin SUI-PERP	−0.0283%	1h	1.0161	−0.138%	$584K	$407K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0042%	1h	1.0178	+0.030%	$6.8M	$19.6M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0177	+0.024%	$95K	$242K	10x	as long as short
Kalshi KXSUIPERPshort	0.0000%	8h	1.0180	+0.051%	$380K	$3.8M	2.5x
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0176	+0.010%	$194K	$501K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0193	+0.182%	$116K	—	150x	as long as short
01 Exchange SUIUSD	+0.0024%	1h	1.0176	+0.010%	$8K	$3K	10x	as long as short

Show all 46 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SUI	+0.0096%	1h	1.0176	+0.010%	$741K	$4.5M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0177	+0.016%	$327K	$2.1M	10x	as long as short
Popdex SUIUSDTlong	+0.0096%	1h	1.0175	long leg	$54K	$516K	50x
Orderly PERP_SUI_USDC	+0.0099%	8h	1.0174	−0.010%	$55K	$700K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0176	+0.011%	$27K	$2K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0172	−0.025%	$660K	$2.0M	10x	as long as short
Hyperliquid SUI	+0.0100%	1h	1.0183	+0.079%	$73.0M	$67.5M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0177	+0.015%	$901K	$3.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0179	+0.043%	$217K	$207K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0174	−0.010%	$143.7M	$871.8M	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0169	−0.059%	$97.1M	$269.8M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0170	−0.049%	$41.3M	$316.4M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0180	+0.049%	$43K	$312K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0190	+0.147%	$233K	$8K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0173	−0.020%	$167.7M	$67.5M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0174	−0.010%	$95.2M	$245.2M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0178	+0.029%	$50.5M	$46.6M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0170	−0.049%	$66.6M	$141.7M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0173	−0.020%	—	$84.0M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0172	−0.029%	$651K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0171	−0.040%	$2.4M	$2.7M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0192	+0.169%	$164K	$3.8M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0189	+0.139%	$441K	$6.7M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0205	+0.295%	$205K	$385K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0179	+0.039%	$123K	$478K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0187	+0.118%	$2K	$1.3M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0174	−0.010%	$6K	$1.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0172	−0.029%	$753K	$16.8M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0174	−0.010%	$11.7M	$28.3M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0169	−0.062%	$1.5M	$3.5M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0176	+0.006%	$39K	$11K	3x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0173	−0.020%	$7.5M	$22.5M	100x	as long as short
Phoenix SUI	+0.0289%	1h	1.0219	+0.435%	$204K	$318K	10x	as long as short
Coinbase International SUI-PERP-INTX	+0.0312%	1h	1.0228	+0.521%	$1.0M	$11.3M	50x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0608% / S −0.0268%	1h	1.0172	−0.026%	$948K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0871%	1h	1.0197	+0.219%	$80K	$405K	10x	as long as short