Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.025%

Price spread now: Injective against BloFin−0.664%7-day average — · you buy dearer than you sell

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

Long on BloFin 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.664% cheaper against BloFin than usual: you would sell low and buy high (−$66 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SUSHI-USDT	0.2562	0.0097	pay 0.0097% / 8h	7h 59m	$215K	$66K	75x
Short	Injective SUSHI/USDC PERP	0.2545	0.0033	get 0.0004% / 1h	59m 41s	$16	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.664%Rate

Funding earned: −$13.39
Price spread: −0.664% → 0.000%: −$66.35
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$91.77
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 5 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 BloFin live order book, 5 min ago	3.91 bp	10.6 bp −$11	28.7 bp −$287	doesn't fit	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
Kraken Futures PF_SUSHIUSD	−0.0012%	1h	0.2565	+0.101%	$770K	$67K	20x	as long as short
Injective SUSHI/USDC PERPshort	+0.0033%	1h	0.2545	−0.664%	$16	$18K	5.5x
Bitget SUSHIUSDT	+0.0043%	8h	0.2558	−0.156%	$1.0M	$683K	50x	as long as short
Variational Omni SUSHI	+0.0074%	8h	0.2558	−0.170%	$41K	$14K	—	as long as short
BloFin SUSHI-USDTlong	+0.0097%	8h	0.2562	long leg	$215K	$66K	75x
Hyperliquid SUSHI	+0.0100%	1h	0.2562	−0.004%	$353K	$408K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2561	−0.051%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2556	−0.245%	$3.9M	$8.9M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2555	−0.269%	$2.6M	$2.5M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2556	−0.234%	$1.7M	$3.1M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SUSHI_USDT	+0.0100%	8h	0.2562	0.000%	$565K	$302K	50x	as long as short
MEXC SUSHI_USDT	+0.0100%	8h	0.2557	−0.195%	$1.3M	$293K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2561	−0.039%	$1.2M	$229K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2558	−0.156%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2562	0.000%	$89K	$58K	75x	as long as short