Funding you earn now, next payment 06:00 UTC+0.0431%/8h= +47.1% APRpaid last 24h +0.079%
Price spread now: Phoenix against Kalshi−0.104%7-day average +0.285% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$91as in the Price arb table
costs, in and out, $10k−$520.524% of the position
Funding, last 7 days+0.217%+$22 on $10k
+Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.104%, 7d avg +0.285%
=Funding pays, the price is against you. Phoenix is 0.390% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.104% now, against its 7-day average of +0.285%). If the spread goes back, that is −$39 on $10k: about 3.0 days of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.217% in total) that is about 13 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.217% in total (about 11.3% 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 | Kalshi KXSUIPERP | 1.0167 | 0 | get 0.0000% / 8h | 5h 26m | $373K | $4.9M | 2.5x |
| Short | Phoenix SUI | 1.0156 | 0.0431 | get 0.0054% / 1h | 26m 25s | $201K | $413K | 10x |
Kalshi KXSUIPERP
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kalshi. 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
- $90.42
- Price spread: −0.104% → +0.285%
- −$38.95
- Slippage, 4 orders
- −$35.44
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$0.97
- Costs to cover
- 0.524%
- Break-even
- 7.1 days
Slippage from Kalshi: live order book, 2 min ago; Phoenix: live order book, 16 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 Kalshi live order book, 2 min ago | 8.87 bp | 13.9 bp −$14 | 20.2 bp −$202 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 16 min ago | 0.99 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 | −0.3536% | 1h | 1.0009 | −1.551% | $41K | $113K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0380% | 1h | 1.0200 | +0.332% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0216% | 1h | 1.0143 | −0.237% | $5K | $21K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0073% | 1h | 1.0155 | −0.115% | $582K | $424K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0196 | +0.291% | $96K | $258K | 10x | as long as short |
| Kalshi KXSUIPERPlong | 0.0000% | 8h | 1.0167 | long leg | $373K | $4.9M | 2.5x | |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0170 | +0.032% | $196K | $563K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0200 | +0.324% | $115K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0187 | +0.200% | $790K | $5.3M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0190 | +0.233% | $298K | $2.2M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUI
Lighter RH SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex SUIUSDT | +0.0096% | 1h | 1.0198 | +0.308% | $37K | $521K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0170 | +0.032% | $47K | $215K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0189 | +0.222% | $27K | $8K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0193 | +0.259% | $538K | $2.1M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0199 | +0.321% | $900K | $4.3M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0187 | +0.200% | $218K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0204 | +0.363% | $146.0M | $1.01B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0195 | +0.278% | $99.0M | $315.3M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0202 | +0.347% | $41.3M | $378.9M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0200 | +0.328% | $43K | $328K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0119 | −0.468% | $238K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0187 | +0.200% | $167.1M | $83.4M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0202 | +0.347% | $152.3M | $292.0M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0202 | +0.347% | $50.1M | $52.9M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0199 | +0.318% | $67.2M | $172.5M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0201 | +0.337% | — | $87.2M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0171 | +0.042% | $668K | $1.3M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0133 | −0.334% | $2.4M | $3.5M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0155 | −0.115% | $163K | $4.5M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0135 | −0.312% | $439K | $7.4M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0165 | −0.017% | $223K | $379K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0208 | +0.406% | $127K | $673K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0185 | +0.180% | $2K | $1.6M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0170 | +0.032% | $6K | $1.8M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0169 | +0.023% | $621K | $18.5M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0167 | +0.003% | $11.7M | $28.2M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0188 | +0.205% | $1.4M | $4.0M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0173 | +0.063% | $39K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0192% | 1h | 1.0201 | +0.337% | $9K | $2K | 10x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0166 | −0.007% | $7.5M | $24.5M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0280% | 1h | 1.0182 | +0.150% | $1.0M | $14.7M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0365% | 1h | 1.0173 | +0.064% | $6.8M | $22.5M | 50x | as long as short |
| Phoenix SUIshort | +0.0431% | 1h | 1.0156 | −0.104% | $201K | $413K | 10x | |
| Hyperliquid SUI | +0.0452% | 1h | 1.0212 | +0.446% | $73.4M | $81.7M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0601% / S −0.0263% | 1h | 1.0166 | −0.003% | $935K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1375% | 1h | 1.0156 | −0.105% | $82K | $410K | 10x | as long as short |
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-USDT
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
Extended SUI-USD
Aevo SUI-PERP
01 Exchange SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD