Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.026%

Price spread now: Kraken Futures against Gate+0.106%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1311.313% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.106%, 7d avg +0.022%

Together, before fees−0.011%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.084% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.022%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.001% in total (about 0.1% a year). A funding rate is set anew for every payment. 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	Gate SUSHI_USDT	0.2548	0.0100	pay 0.0100% / 8h	4h 26m	$566K	$236K	50x
Short	Kraken Futures PF_SUSHIUSD	0.2551	0.0360	get 0.0045% / 1h	26m 10s	$768K	$61K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.106%Rate

Funding earned: $54.67
Price spread: +0.106% → +0.022%: $8.36
Slippage, 4 orders: −$106.34
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$68.31
Costs to cover: 1.313%
Break-even: 15.7 days

Slippage from Gate: live order book, 30 min ago; Kraken Futures: live order book, 32 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 Gate live order book, 30 min ago	9.79 bp	26.7 bp −$27	407.4 bp −$4,074	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 32 min ago	21.64 bp	39.5 bp −$39	doesn't fit	doesn't fit	doesn't fit

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
Bitget SUSHIUSDT	−0.0103%	8h	0.2548	0.000%	$1.0M	$726K	50x	as long as short
Variational Omni SUSHI	+0.0019%	8h	0.2538	−0.390%	$41K	$13K	—	as long as short
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	−0.118%	$16	$18K	5.5x	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2548	−0.004%	$357K	$337K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2549	+0.025%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2551	+0.114%	$3.9M	$9.2M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2547	−0.039%	$2.5M	$2.6M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2551	+0.118%	$1.6M	$3.3M	50x	as long as short
Gate SUSHI_USDTlong	+0.0100%	8h	0.2548	long leg	$566K	$236K	50x
MEXC SUSHI_USDT	+0.0100%	8h	0.2550	+0.078%	$1.2M	$267K	75x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2547	−0.039%	$1.2M	$235K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2547	−0.039%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2551	+0.118%	$85K	$74K	75x	as long as short
BloFin SUSHI-USDT	+0.0114%	8h	0.2543	−0.196%	$212K	$38K	75x	as long as short
Kraken Futures PF_SUSHIUSDshort	+0.0360%	1h	0.2551	+0.106%	$768K	$61K	20x