Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.3026%/8h= −331.3% APRpaid last 24h −0.669%

Price spread now: Injective against Phemex−1.919%7-day average −0.239% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.996%−$200 on $10k

Price spread, last 3 days (all we have)+1.476%+$148 · spread now −1.919%, 7d avg −0.239%

Together, before fees−0.520%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$91 a day on $10k at the current rate, and Injective is 1.680% cheaper against Phemex than usual: you would sell low and buy high (−$168 if the spread goes back to its 7-day average of −0.239%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex SUIUSDT	1.0265	0.0100	pay 0.0100% / 8h	1h 47m	$11.5M	$24.6M	50x
Short	Injective SUI/USDC PERP	1.0068	−0.2926	pay 0.0366% / 1h	47m 20s	$41K	$123K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now −1.919%Rate

Funding earned: −$635.46
Price spread: −1.919% → −0.239%: −$167.99
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$815.48
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Injective: live order book, 36 min ago. Net counts fees only.

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 Phemex live order book, 2 min ago	1.46 bp	16.3 bp −$16	26.9 bp −$269	doesn't fit	doesn't fit
Sell Injective live order book, 36 min ago	64.64 bp	doesn't fit	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 PERPshort	−0.2926%	1h	1.0068	−1.919%	$41K	$123K	12x
Reya SUIRUSDPERP	−0.0367%	1h	1.0276	+0.111%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0223%	1h	1.0250	−0.146%	$588K	$405K	25x	as long as short
Hibachi SUI/USDT-P	−0.0064%	1h	1.0278	+0.124%	$6K	$18K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0281	+0.156%	$94K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0282	+0.168%	$458K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0265	0.000%	$188K	$547K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0264	−0.010%	$119K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0285	+0.196%	$793K	$5.9M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0287	+0.209%	$254K	$2.0M	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex SUIUSDT	+0.0096%	1h	1.0282	+0.166%	$37K	$503K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0098%	8h	1.0264	−0.010%	$45K	$375K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0284	+0.188%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0282	+0.170%	$598K	$1.3M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0284	+0.183%	$1.0M	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0285	+0.197%	$223K	$262K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0264	−0.010%	$151.7M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0265	−0.001%	$102.8M	$307.1M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0261	−0.039%	$41.0M	$384.0M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0290	+0.244%	$148K	$287K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0236	−0.286%	$241K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0263	−0.019%	$165.5M	$80.5M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0264	−0.010%	$148.2M	$294.2M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0279	+0.136%	$51.7M	$52.1M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0256	−0.088%	$67.5M	$168.8M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0264	−0.010%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0279	+0.136%	$653K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0232	−0.325%	$2.3M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0234	−0.302%	$165K	$4.4M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0234	−0.300%	$440K	$7.0M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0256	−0.088%	$232K	$445K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0287	+0.214%	$107K	$786K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0295	+0.292%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0264	−0.010%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0273	+0.078%	$624K	$18.7M	75x	as long as short
Phemex SUIUSDTlong	+0.0100%	8h	1.0265	long leg	$11.5M	$24.6M	50x
Extended SUI-USD	+0.0104%	1h	1.0259	−0.059%	$1.5M	$3.8M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0265	−0.003%	$49K	$37K	3x	as long as short
01 Exchange SUIUSD	+0.0112%	1h	1.0284	+0.185%	$9K	$9K	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0266	+0.010%	$8.0M	$23.9M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0278	+0.127%	$982K	$13.9M	50x	as long as short
Kraken Futures PF_SUIUSD	+0.0296%	1h	1.0267	+0.020%	$7.1M	$24.2M	50x	as long as short
Phoenix SUI	+0.0346%	1h	1.0288	+0.221%	$204K	$574K	10x	as long as short
Hyperliquid SUI	+0.0406%	1h	1.0293	+0.273%	$73.3M	$81.4M	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0637% / S −0.0309%	1h	1.0263	−0.019%	$896K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0683%	1h	1.0257	−0.076%	$94K	$384K	10x	as long as short