SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0408%/8h= −44.7% APRnext payment −$0.51 per $10,000 · paid last 24h −0.055%

Price spread now: Deribit against Phoenix+0.246%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.246%, 7d avg −0.055%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.302% dearer against Phoenix than usual: you sell high and buy low (spread +0.246% now, against its 7-day average of −0.055%): +$30 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.020% in total) that is about 4 months.

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 -1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 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	Phoenix SUI	1.0237	0.0408	pay 0.0051% / 1h	21m 10s	$215K	$415K	10x
Short	Deribit SUI_USDC-PERPETUAL	1.0262	0	get 0.0000% / 1h	21m 10s	$199K	$572K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.246%Rate

Funding earned: −$85.71
Price spread: +0.246% → −0.055%: $30.16
Slippage, 4 orders: −$28.2
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$97.75
Costs to cover: 0.422%
Break-even: never at this rate

Slippage from Phoenix: live order book, 31 min ago; Deribit: live order book, 33 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, 31 min ago	0.96 bp	12.3 bp −$12	50.7 bp −$507	doesn't fit	doesn't fit
Sell Deribit live order book, 33 min ago	4.82 bp	8.3 bp −$8	16.5 bp −$165	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	−0.3470%	1h	1.0147	−0.877%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0377%	1h	1.0258	+0.210%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0176%	1h	1.0226	−0.105%	$6K	$19K	7x	as long as short
Kraken Futures PF_SUIUSD	−0.0067%	1h	1.0263	+0.257%	$6.7M	$26.7M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0263	+0.257%	$129K	$227K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0254	+0.166%	$476K	$5.1M	2.5x	as long as short
Deribit SUI_USDC-PERPETUALshort	0.0000%	1h	1.0262	+0.246%	$199K	$572K	25x
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0257	+0.201%	$115K	—	150x	as long as short
Bluefin SUI-PERP	+0.0034%	1h	1.0247	+0.100%	$588K	$407K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0259	+0.216%	$774K	$5.4M	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SUI	+0.0096%	1h	1.0258	+0.204%	$305K	$2.2M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0263	+0.256%	$45K	$516K	50x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0263	+0.256%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0262	+0.246%	$581K	$2.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0252	+0.152%	$886K	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0262	+0.249%	$222K	$254K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0253	+0.158%	$147.2M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0253	+0.158%	$101.1M	$309.1M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0249	+0.119%	$40.1M	$385.8M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0270	+0.324%	$43K	$331K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0253	+0.158%	$167.5M	$82.3M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0252	+0.148%	$153.2M	$295.4M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0253	+0.158%	$50.3M	$54.2M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0251	+0.139%	$67.1M	$173.9M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0255	+0.178%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0252	+0.148%	$636K	$1.3M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0246	+0.086%	$2.4M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0240	+0.033%	$168K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0231	−0.055%	$442K	$7.6M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0241	+0.041%	$224K	$433K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0271	+0.334%	$123K	$724K	10x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0258	+0.207%	$47K	$173K	20x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0298	+0.598%	$2K	$1.7M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0260	+0.227%	$14K	$2.0M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0244	+0.070%	$586K	$19.6M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0245	+0.080%	$11.8M	$27.2M	50x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0239	+0.021%	$241K	$4K	10x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0258	+0.209%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0265	+0.277%	$39K	$11K	3x	as long as short
01 Exchange SUIUSD	+0.0152%	1h	1.0264	+0.266%	$9K	$3K	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0245	+0.080%	$7.7M	$24.6M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0258	+0.207%	$994K	$15.1M	50x	as long as short
Hyperliquid SUI	+0.0368%	1h	1.0261	+0.236%	$74.1M	$81.1M	10x	as long as short
Phoenix SUIlong	+0.0408%	1h	1.0237	long leg	$215K	$415K	10x
GMX SUI/USD [ETH-USDC]	L +0.0600% / S −0.0260%	1h	1.0256	+0.192%	$937K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1509%	1h	1.0269	+0.312%	$82K	$404K	10x	as long as short