Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0290%/8h= −31.7% APRpaid last 24h −0.039%

Price spread now: BingX against Phoenix+0.155%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Phoenix Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. BingX is 0.155% dearer against Phoenix than usual: you sell high and buy low (spread +0.155% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 43 hours. At the pace of the last 7 days (−0.020% in total) that is about 53 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.020% in total (about -1.1% 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	Phoenix SUI	1.0375	0.0390	pay 0.0049% / 1h	17m 15s	$211K	$421K	10x
Short	BingX SUI-USDT	1.0391	0.0100	get 0.0100% / 8h	4h 17m	—	$82.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phoenix. 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 PhoenixbpFee BingXbpOrdersPrice spread, now +0.155%Rate

Funding earned: −$60.83
Price spread: +0.155% → 0.000%: $15.52
Slippage, 4 orders: −$22.38
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$84.69
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Phoenix: live order book, 40 min ago; BingX: live order book, 7 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 Phoenix live order book, 40 min ago	0.95 bp	12.3 bp −$12	50.6 bp −$506	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	0.96 bp	8.8 bp −$9	12.1 bp −$121	18.8 bp −$1,884	48.4 bp −$24.2K

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	−0.3244%	1h	1.0301	−0.712%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0375%	1h	1.0386	+0.106%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0320%	1h	1.0353	−0.207%	$6K	$19K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0375	+0.001%	$130K	$227K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0380	+0.049%	$507K	$5.0M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0395	+0.194%	$202K	$573K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0397	+0.217%	$116K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0394	+0.187%	$828K	$5.6M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0396	+0.205%	$301K	$2.2M	10x	as long as short
01 Exchange SUIUSD	+0.0096%	1h	1.0392	+0.165%	$9K	$2K	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	1.0387	+0.117%	$42K	$516K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0377	+0.020%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0380	+0.054%	$584K	$2.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0386	+0.106%	$914K	$4.6M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0381	+0.059%	$224K	$260K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0392	+0.165%	$150.5M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0393	+0.174%	$102.1M	$311.1M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0391	+0.155%	$41.0M	$390.0M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0390	+0.146%	$44K	$373K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0408	+0.318%	$245K	$6K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0393	+0.174%	$168.1M	$84.0M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0393	+0.174%	$153.8M	$297.8M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0392	+0.165%	$49.6M	$53.9M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0389	+0.136%	$67.9M	$172.6M	75x	as long as short
BingX SUI-USDTshort	+0.0100%	8h	1.0391	+0.155%	—	$82.5M	—
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0393	+0.174%	$663K	$1.3M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0389	+0.132%	$2.5M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0375	+0.003%	$169K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0358	−0.164%	$448K	$7.6M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0383	+0.078%	$230K	$434K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0398	+0.223%	$124K	$754K	10x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0389	+0.136%	$48K	$170K	20x	as long as short
Bluefin SUI-PERP	+0.0100%	1h	1.0375	+0.001%	$594K	$406K	25x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0376	+0.011%	$2K	$1.7M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0391	+0.155%	$14K	$2.1M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0387	+0.117%	$578K	$19.6M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0385	+0.097%	$11.9M	$26.8M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0389	+0.138%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0397	+0.213%	$39K	$11K	3x	as long as short
Kraken Futures PF_SUIUSD	+0.0162%	1h	1.0396	+0.201%	$6.9M	$27.0M	50x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0398	+0.223%	$974K	$15.0M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0392	+0.165%	$8.0M	$24.8M	100x	as long as short
Hyperliquid SUI	+0.0357%	1h	1.0405	+0.290%	$75.5M	$81.5M	10x	as long as short
Phoenix SUIlong	+0.0390%	1h	1.0375	long leg	$211K	$421K	10x
GMX SUI/USD [ETH-USDC]	L +0.0614% / S −0.0267%	1h	1.0397	+0.209%	$960K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1492%	1h	1.0409	+0.326%	$83K	$398K	10x	as long as short