Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0447%/8h= +49.0% APRpaid last 24h +0.078%

Price spread now: SunX against Bluefin+0.268%7-day average +0.233% · you sell dearer than you buy

Net, funding: paid 7d − costs−$154as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1441.435% of the position

Long on Bluefin Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.108%−$11 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.268%, 7d avg +0.233%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and SunX is 0.034% dearer against Bluefin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.233%. Mind the row above: over the last 7 days funding on this pair cost −0.108%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.108% in total (about -5.6% 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	Bluefin SUI-PERP	1.0457	−0.0347	get 0.0043% / 1h	58m 07s	$598K	$417K	25x
Short	SunX SUI-USDT	1.0485	0.0100	get 0.0100% / 8h	6h 58m	$2K	$1.9M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Bluefin. 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 BluefinbpFee SunXbpOrdersPrice spread, now +0.268%Rate

Funding earned: $93.97
Price spread: +0.268% → +0.233%: $3.44
Slippage, 4 orders: −$128.51
Fee Bluefin: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$46.11
Costs to cover: 1.435%
Break-even: 10.4 days

Slippage from Bluefin: live order book, 11 min ago; SunX: live order book, 8 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 Bluefin live order book, 11 min ago	2.32 bp	13.4 bp −$13	57.3 bp −$573	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	31.27 bp	67.5 bp −$68	doesn't fit	doesn't fit	doesn't fit

SUI on 46 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	1.0515	+0.555%	$43K	$123K	12x	as long as short
Hibachi SUI/USDT-P	−0.0504%	1h	1.0521	+0.611%	$6K	$19K	7x	as long as short
Reya SUIRUSDPERP	−0.0372%	1h	1.0491	+0.325%	$4K	$3K	20x	as long as short
Bluefin SUI-PERPlong	−0.0347%	1h	1.0457	long leg	$598K	$417K	25x
dYdX SUI-USD	0.0000%	1h	1.0429	−0.266%	$95K	$171K	10x	as long as short
01 Exchange SUIUSD	0.0000%	1h	1.0483	+0.249%	$9K	$9K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0474	+0.165%	$597K	$4.9M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0473	+0.153%	$203K	$580K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0475	+0.174%	$114K	—	150x	as long as short
Kraken Futures PF_SUIUSD	+0.0011%	1h	1.0474	+0.167%	$7.0M	$24.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SUI	+0.0096%	1h	1.0481	+0.229%	$818K	$5.5M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0477	+0.193%	$281K	$2.1M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0490	+0.316%	$36K	$478K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0099%	8h	1.0471	+0.134%	$48K	$309K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0524	+0.641%	$28K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0493	+0.349%	$708K	$1.5M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0486	+0.279%	$1.0M	$4.9M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0441	−0.156%	$227K	$261K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0480	+0.220%	$153.5M	$1.04B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0479	+0.210%	$103.8M	$310.5M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0475	+0.172%	$41.2M	$395.2M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0460	+0.029%	$44K	$370K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0760	+2.902%	$253K	$3K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0477	+0.191%	$169.1M	$81.9M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0480	+0.220%	$153.7M	$291.0M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0490	+0.316%	$50.9M	$53.4M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0467	+0.096%	$68.2M	$171.4M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0477	+0.191%	—	$82.3M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0548	+0.870%	$664K	$1.1M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0558	+0.963%	$2.4M	$3.2M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0642	+1.769%	$173K	$4.7M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0548	+0.870%	$458K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0625	+1.607%	$236K	$491K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0500	+0.411%	$122K	$738K	10x	as long as short
SunX SUI-USDTshort	+0.0100%	8h	1.0485	+0.268%	$2K	$1.9M	30x
SoDEX SUI-USD	+0.0100%	1h	1.0471	+0.134%	$6K	$2.3M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0497	+0.383%	$657K	$19.6M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0476	+0.182%	$11.7M	$25.3M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0468	+0.104%	$1.5M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0473	+0.148%	$40K	$16K	3x	as long as short
Coinbase International SUI-PERP-INTX	+0.0152%	1h	1.0471	+0.134%	$994K	$14.7M	50x	as long as short
Hyperliquid SUI	+0.0200%	1h	1.0502	+0.430%	$75.6M	$80.7M	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0547	+0.861%	$8.2M	$25.6M	100x	as long as short
Phoenix SUI	+0.0299%	1h	1.0600	+1.368%	$210K	$551K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0619% / S −0.0265%	1h	1.0474	+0.167%	$960K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0939%	1h	1.0606	+1.427%	$77K	$381K	10x	as long as short