Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0121%/8h= +13.2% APRpaid last 24h +0.042%

Price spread now: Phoenix against Bitget+0.453%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.606%+$61 · spread now +0.453%, 7d avg +0.118%

Together, before fees+0.658%+$66 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.335% dearer against Bitget than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget SUIUSDT	1.0379	0.0100	pay 0.0100% / 8h	6h 00m	$67.5M	$170.0M	75x
Short	Phoenix SUI	1.0426	0.0221	get 0.0028% / 1h	0m 54s	$207K	$595K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now +0.453%Rate

Funding earned: $25.37
Price spread: +0.453% → +0.118%: $33.51
Slippage, 4 orders: −$23.79
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $16.09
Costs to cover: 0.428%
Break-even: 2.6 days

Slippage from Bitget: live order book, 3 min ago; Phoenix: live order book, 67 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 Bitget live order book, 3 min ago	0.96 bp	8.7 bp −$9	13.2 bp −$132	52.1 bp −$5,206	doesn't fit
Sell Phoenix live order book, 67 min ago	1.02 bp	12.3 bp −$12	42.9 bp −$429	doesn't fit	doesn't fit

SUI on 45 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
Injective SUI/USDC PERP	−0.4499%	1h	1.0252	−1.224%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0373%	1h	1.0375	−0.035%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0280%	1h	1.0400	+0.198%	$6K	$19K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0379	−0.001%	$95K	$169K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0392	+0.125%	$521K	$4.9M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0388	+0.087%	$202K	$577K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0383	+0.039%	$113K	—	150x	as long as short
Kraken Futures PF_SUIUSD	+0.0012%	1h	1.0387	+0.081%	$6.8M	$26.9M	50x	as long as short
Bluefin SUI-PERP	+0.0057%	1h	1.0374	−0.048%	$594K	$414K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0389	+0.093%	$819K	$5.7M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SUI	+0.0096%	1h	1.0390	+0.109%	$277K	$2.1M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0379	0.000%	$31K	$499K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0379	+0.004%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0381	+0.019%	$718K	$1.9M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0382	+0.027%	$911K	$4.8M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0387	+0.077%	$227K	$268K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0379	0.000%	$151.8M	$1.04B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0381	+0.023%	$103.0M	$309.3M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0380	+0.010%	$40.9M	$386.1M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0380	+0.010%	$44K	$373K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0351	−0.270%	$243K	$4K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0380	+0.010%	$164.3M	$84.7M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0379	0.000%	$150.9M	$301.6M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0381	+0.019%	$50.5M	$53.8M	75x	as long as short
Bitget SUIUSDTlong	+0.0100%	8h	1.0379	long leg	$67.5M	$170.0M	75x
BingX SUI-USDT	+0.0100%	8h	1.0380	+0.010%	—	$82.1M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0382	+0.029%	$710K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0383	+0.035%	$2.4M	$3.2M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0405	+0.250%	$169K	$4.7M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0385	+0.059%	$455K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0409	+0.289%	$237K	$472K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0386	+0.067%	$120K	$722K	10x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0382	+0.029%	$47K	$243K	20x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0392	+0.125%	$2K	$1.8M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0386	+0.067%	$6K	$2.1M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0377	−0.019%	$597K	$19.9M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0387	+0.077%	$11.6M	$25.9M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0382	+0.029%	$1.4M	$4.1M	50x	as long as short
01 Exchange SUIUSD	+0.0104%	1h	1.0379	0.000%	$9K	$3K	10x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0386	+0.067%	$39K	$16K	3x	as long as short
Coinbase International SUI-PERP-INTX	+0.0152%	1h	1.0386	+0.067%	$977K	$14.6M	50x	as long as short
Phoenix SUIshort	+0.0221%	1h	1.0426	+0.453%	$207K	$595K	10x
Hyperliquid SUI	+0.0310%	1h	1.0394	+0.145%	$74.9M	$80.2M	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0627% / S −0.0278%	1h	1.0383	+0.038%	$980K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1116%	1h	1.0394	+0.148%	$82K	$383K	10x	as long as short