Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0039%/8h= −4.2% APRpaid last 24h −0.020%

Price spread now: Injective against Variational Omni+0.133%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Injective is 0.133% dearer against Variational Omni than usual: you sell high and buy low (spread +0.133% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni SUSHI	0.2542	0.0072	pay 0.0072% / 8h	7m 03s	$41K	$14K	—
Short	Injective SUSHI/USDC PERP	0.2545	0.0033	get 0.0004% / 1h	7m 03s	$16	$18K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now +0.133%Rate

Funding earned: −$8.12
Price spread: +0.133% → 0.000%: $13.25
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $5.11
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Variational Omni and 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	0.2547	+0.221%	$765K	$67K	20x	as long as short
Injective SUSHI/USDC PERPshort	+0.0033%	1h	0.2545	+0.133%	$16	$18K	5.5x
Bitget SUSHIUSDT	+0.0039%	8h	0.2545	+0.133%	$1.0M	$681K	50x	as long as short
Variational Omni SUSHIlong	+0.0072%	8h	0.2542	long leg	$41K	$14K	—
Hyperliquid SUSHI	+0.0100%	1h	0.2546	+0.192%	$353K	$407K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2547	+0.202%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2544	+0.093%	$3.9M	$8.9M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2544	+0.074%	$2.6M	$2.4M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2547	+0.211%	$1.7M	$3.1M	50x	as long as short
Gate SUSHI_USDT	+0.0100%	8h	0.2545	+0.133%	$563K	$299K	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	0.2544	+0.093%	$1.3M	$305K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2546	+0.172%	$1.2M	$227K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2545	+0.133%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2549	+0.290%	$89K	$57K	75x	as long as short
BloFin SUSHI-USDT	+0.0108%	8h	0.2543	+0.054%	$214K	$65K	75x	as long as short