Funding you earn now, next payment 23:00 UTC+0.0327%/8h= +35.8% APRnext payment +$0.41 per $10,000 · paid last 24h +0.031%
Price spread now: Phoenix against Deribit−0.122%7-day average +0.036% · you buy dearer than you sell
Net, funding: paid 7d − costs−$43as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$420.420% of the position
Funding, last 7 days−0.007%−$1 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.122%, 7d avg +0.036%
=Funding pays, the price is against you. Phoenix is 0.157% cheaper against Deribit than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of +0.036%). If the spread goes back, that is −$16 on $10k: about 39 hours of funding at the current rate (+$10 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 per $10,000. 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 | Deribit SUI_USDC-PERPETUAL | 1.0370 | 0 | get 0.0000% / 1h | 18m 51s | $201K | $581K | 25x |
| Short | Phoenix SUI | 1.0357 | 0.0327 | get 0.0041% / 1h | 18m 51s | $206K | $593K | 10x |
Deribit SUI_USDC-PERPETUAL
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $68.64
- Price spread: −0.122% → +0.036%
- −$15.74
- Slippage, 4 orders
- −$27.96
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $10.94
- Costs to cover
- 0.420%
- Break-even
- 5.9 days
Slippage from Deribit: live order book, 60 min ago; Phoenix: live order book, 59 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 Deribit live order book, 60 min ago | 2.93 bp | 6.9 bp −$7 | 13.7 bp −$137 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 59 min ago | 0.98 bp | 12.4 bp −$12 | 43.0 bp −$430 | 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 | −0.3474% | 1h | 1.0240 | −1.254% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0370% | 1h | 1.0360 | −0.100% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0328% | 1h | 1.0344 | −0.251% | $6K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0058% | 1h | 1.0355 | −0.145% | $593K | $406K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0347 | −0.218% | $97K | $173K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0362 | −0.081% | $464K | $5.3M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUALlong | 0.0000% | 1h | 1.0370 | long leg | $201K | $581K | 25x | |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0366 | −0.037% | $119K | — | 150x | as long as short |
| 01 Exchange SUIUSD | +0.0088% | 1h | 1.0364 | −0.058% | $9K | $9K | 10x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0362 | −0.077% | $795K | $5.9M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
gTrade (Gains Network) SUI/USD
01 Exchange SUIUSD
Lighter SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH SUI | +0.0096% | 1h | 1.0370 | −0.004% | $261K | $2.0M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0362 | −0.077% | $40K | $496K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0366 | −0.039% | $46K | $328K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0345 | −0.246% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0368 | −0.024% | $601K | $1.4M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0366 | −0.042% | $1.0M | $4.7M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0352 | −0.178% | $225K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0364 | −0.058% | $153.0M | $1.03B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0365 | −0.048% | $104.0M | $307.4M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0359 | −0.106% | $41.5M | $387.8M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0370 | 0.000% | $46K | $387K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0363 | −0.068% | $166.5M | $81.4M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0363 | −0.068% | $150.5M | $291.5M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0359 | −0.106% | $51.6M | $52.5M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0358 | −0.116% | $68.1M | $168.0M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0362 | −0.077% | — | $6.6M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0362 | −0.077% | $665K | $1.1M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0353 | −0.163% | $2.3M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0329 | −0.398% | $168K | $4.4M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0342 | −0.270% | $447K | $7.0M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0329 | −0.395% | $234K | $442K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0371 | +0.010% | $109K | $775K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0381 | +0.106% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0367 | −0.029% | $7K | $2.3M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0366 | −0.039% | $645K | $18.5M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0361 | −0.087% | $11.6M | $24.9M | 50x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0359 | −0.106% | $244K | $2K | 10x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0360 | −0.096% | $1.4M | $3.8M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0372 | +0.022% | $49K | $37K | 3x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0369 | −0.010% | $8.0M | $24.2M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0224% | 1h | 1.0351 | −0.183% | $991K | $14.0M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0272% | 1h | 1.0372 | +0.017% | $7.2M | $24.1M | 50x | as long as short |
| Phoenix SUIshort | +0.0327% | 1h | 1.0357 | −0.122% | $206K | $593K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0636% / S −0.0304% | 1h | 1.0368 | −0.023% | $896K | — | 100x | as long as short |
| Hyperliquid SUI | +0.0657% | 1h | 1.0378 | +0.075% | $75.1M | $80.9M | 10x | as long as short |
| Aftermath Perps SUIUSD | +0.0812% | 1h | 1.0357 | −0.127% | $93K | $382K | 10x | as long as short |
Lighter RH SUI
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDC
Backpack SUI_USDC_PERP
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Bulk SUI-USD
Extended SUI-USD
Aevo SUI-PERP
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
GMX SUI/USD [ETH-USDC]
Hyperliquid SUI
Aftermath Perps SUIUSD