Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against BingX+0.474%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 0.474% dearer against BingX than usual: you sell high and buy low (spread +0.474% now, against zero (this spread has no 7-day history yet)): +$47 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX SUSHI-USDT	0.2533	0.0100	pay 0.0100% / 8h	46m 52s	—	$2.5M	—
Short	Injective SUSHI/USDC PERP	0.2545	0.0033	get 0.0004% / 1h	46m 52s	$16	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +0.474%Rate

Funding earned: −$14
Price spread: +0.474% → 0.000%: $47.37
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $23.35
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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 BingX live order book, 2 min ago	5.92 bp	15.3 bp −$15	38.4 bp −$384	700.6 bp −$70.1K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

SUSHI on 15 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
Variational Omni SUSHI	−0.0004%	8h	0.2522	−0.434%	$41K	$7K	—	as long as short
Bitget SUSHIUSDT	+0.0020%	8h	0.2534	+0.039%	$990K	$750K	50x	as long as short
Injective SUSHI/USDC PERPshort	+0.0033%	1h	0.2545	+0.474%	$16	$18K	5.5x
BloFin SUSHI-USDT	+0.0099%	8h	0.2532	−0.039%	$206K	$54K	75x	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2535	+0.059%	$334K	$347K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2533	+0.010%	$23K	$15K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2533	−0.009%	$3.9M	$9.4M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2532	−0.047%	$2.5M	$3.0M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2534	+0.039%	$1.5M	$3.7M	50x	as long as short
Gate SUSHI_USDT	+0.0100%	8h	0.2532	−0.039%	$573K	$274K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SUSHI_USDT	+0.0100%	8h	0.2533	0.000%	$1.2M	$281K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2532	−0.039%	$1.2M	$247K	50x	as long as short
BingX SUSHI-USDTlong	+0.0100%	8h	0.2533	long leg	—	$2.5M	—
HTX SUSHI-USDT	+0.0100%	8h	0.2537	+0.158%	$85K	$78K	75x	as long as short
Kraken Futures PF_SUSHIUSD	+0.0507%	1h	0.2535	+0.067%	$763K	$66K	20x	as long as short