Funding you earn now, next payment 02:00 UTC−0.0057%/8h= −6.3% APRpaid last 24h −0.112%
Price spread now: Phemex against Hyperliquid+0.038%7-day average −0.092% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$470.469% of the position
Funding, last 7 days−0.268%−$27 on $10k
+Price spread, last 3 days (all we have)−0.129%−$13 · spread now +0.038%, 7d avg −0.092%
=Together, before fees−0.397%+ Points / potential airdropHyperliquid: Season 2 · farm board−$40 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.131% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.092%): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.6 days. At the pace of the last 7 days (−0.268% in total) that is about 3.4 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid SUI | 1.0462 | 0.0157 | pay 0.0020% / 1h | 46m 54s | $75.1M | $80.8M | 10x |
| Short | Phemex SUIUSDT | 1.0466 | 0.0100 | get 0.0100% / 8h | 6h 46m | $11.6M | $25.5M | 50x |
Hyperliquid SUI
Phemex SUIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. 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
- −$12
- Price spread: +0.038% → −0.092%
- $13.06
- Slippage, 4 orders
- −$25.86
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$45.8
- Costs to cover
- 0.469%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 7 min ago; Phemex: live order book, 2 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 Hyperliquid live order book, 7 min ago | 2.85 bp | 10.8 bp −$11 | 14.5 bp −$145 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 5.70 bp | 13.1 bp −$13 | 19.9 bp −$199 | 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 | 1.0442 | −0.191% | $43K | $123K | 12x | as long as short |
| Hibachi SUI/USDT-P | −0.0512% | 1h | 1.0518 | +0.534% | $6K | $19K | 7x | as long as short |
| Reya SUIRUSDPERP | −0.0372% | 1h | 1.0469 | +0.067% | $4K | $3K | 20x | as long as short |
| ApeX Omni SUIUSDT | −0.0347% | 1h | 1.0539 | +0.736% | $241K | $505K | 50x | as long as short |
| Bluefin SUI-PERP | −0.0149% | 1h | 1.0462 | 0.000% | $599K | $418K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0474 | +0.114% | $95K | $171K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0487 | +0.238% | $556K | $5.0M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0453 | −0.086% | $203K | $580K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0473 | +0.108% | $114K | — | 150x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0011% | 1h | 1.0455 | −0.064% | $7.1M | $25.7M | 50x | as long as short |
Injective SUI/USDC PERP
Hibachi SUI/USDT-P
Reya SUIRUSDPERP
ApeX Omni SUIUSDT
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Kraken Futures PF_SUIUSDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| 01 Exchange SUIUSD | +0.0072% | 1h | 1.0481 | +0.182% | $9K | $9K | 10x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0461 | −0.011% | $817K | $5.6M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0458 | −0.037% | $275K | $2.1M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0479 | +0.162% | $36K | $480K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0099% | 8h | 1.0466 | +0.038% | $48K | $289K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0550 | +0.843% | $28K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0475 | +0.129% | $836K | $1.6M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0459 | −0.027% | $951K | $5.0M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0475 | +0.126% | $228K | $262K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0461 | −0.010% | $152.3M | $1.05B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0461 | −0.010% | $103.9M | $312.6M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0456 | −0.057% | $41.2M | $395.1M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0480 | +0.172% | $46K | $371K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0479 | +0.162% | $246K | $3K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0459 | −0.029% | $168.1M | $82.9M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0458 | −0.038% | $151.5M | $294.8M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0455 | −0.067% | $51.2M | $54.0M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0453 | −0.086% | $68.0M | $172.4M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0461 | −0.010% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0451 | −0.105% | $678K | $1.2M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0540 | +0.744% | $2.4M | $3.2M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0537 | +0.715% | $173K | $4.7M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0536 | +0.706% | $457K | $7.6M | 10x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0482 | +0.191% | $121K | $731K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0478 | +0.153% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0453 | −0.086% | $6K | $2.2M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0446 | −0.153% | $659K | $19.7M | 75x | as long as short |
| Phemex SUIUSDTshort | +0.0100% | 8h | 1.0466 | +0.038% | $11.6M | $25.5M | 50x | |
| Extended SUI-USD | +0.0104% | 1h | 1.0452 | −0.093% | $1.5M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0455 | −0.067% | $40K | $16K | 3x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0152% | 1h | 1.0466 | +0.038% | $998K | $14.7M | 50x | as long as short |
| Hyperliquid SUIlong | +0.0157% | 1h | 1.0462 | long leg | $75.1M | $80.8M | 10x | |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0524 | +0.593% | $8.0M | $25.7M | 100x | as long as short |
| Phoenix SUI | +0.0221% | 1h | 1.0579 | +1.115% | $210K | $595K | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0633% / S −0.0282% | 1h | 1.0471 | +0.088% | $995K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.0948% | 1h | 1.0521 | +0.568% | $79K | $382K | 10x | as long as short |
01 Exchange SUIUSD
Lighter SUI
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
Bulk 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
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Extended SUI-USD
Aevo SUI-PERP
Coinbase International SUI-PERP-INTX
BloFin SUI-USDT
Phoenix SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD