Funding you earn now, next payment 06:00 UTC−0.0335%/8h= −36.6% APRnext payment −$0.42 per $10,000 · paid last 24h −0.050%
Price spread now: Popdex against Phoenix+0.502%7-day average −0.102% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs+$18as in the Price arb table
costs, in and out, $10k−$420.421% of the position
Funding, last 4 days (all we have)−0.079%−$8 on $10k
+Price spread, last 4 days (all we have)−0.642%−$64 · spread now +0.502%, 7d avg −0.102%
=The price spread pays, funding is against you. Popdex is 0.604% dearer against Phoenix than usual: you sell high and buy low (spread +0.502% now, against its 7-day average of −0.102%): +$60 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6.0 days. At the pace of the last 4 days (−0.079% in total) that is about 28 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.079% in total (about -7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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 | 1.0114 | 0.0431 | pay 0.0054% / 1h | 28m 46s | $200K | $413K | 10x |
| Short | Popdex SUIUSDT | 1.0165 | 0.0096 | get 0.0012% / 1h | 28m 46s | $37K | $521K | 50x |
Phoenix SUI
Popdex SUIUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Phoenix. 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
- −$70.26
- Price spread: +0.502% → −0.102%
- $60.39
- Slippage, 4 orders
- −$28.72
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$51.99
- Costs to cover
- 0.421%
- Break-even
- from the start
Slippage from Phoenix: live order book, 13 min ago; Popdex: live order book, 15 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, 13 min ago | 0.99 bp | 12.4 bp −$12 | 50.7 bp −$507 | doesn't fit | doesn't fit |
| Sell Popdex live order book, 15 min ago | 3.01 bp | 8.1 bp −$8 | 25.8 bp −$258 | 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 | −1.040% | $41K | $113K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0380% | 1h | 1.0143 | +0.285% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0208% | 1h | 1.0130 | +0.152% | $5K | $21K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0067% | 1h | 1.0137 | +0.225% | $581K | $425K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0131 | +0.168% | $95K | $294K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0158 | +0.434% | $373K | $4.9M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0149 | +0.344% | $195K | $563K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0134 | +0.192% | $114K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0151 | +0.362% | $790K | $5.3M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0151 | +0.362% | $297K | $2.2M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
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 SUIUSDTshort | +0.0096% | 1h | 1.0165 | +0.502% | $37K | $521K | 50x | |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0152 | +0.374% | $47K | $214K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0163 | +0.487% | $27K | $8K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0153 | +0.389% | $536K | $2.1M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0151 | +0.365% | $896K | $4.3M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0158 | +0.433% | $217K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0146 | +0.314% | $145.2M | $1.01B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0139 | +0.247% | $98.6M | $315.1M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0137 | +0.225% | $41.1M | $377.1M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0170 | +0.552% | $43K | $328K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0119 | +0.049% | $238K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0146 | +0.314% | $166.3M | $83.3M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0145 | +0.305% | $151.5M | $291.8M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0145 | +0.305% | $49.9M | $52.9M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0141 | +0.265% | $66.8M | $172.8M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0147 | +0.324% | — | $87.4M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0142 | +0.275% | $668K | $1.3M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0133 | +0.183% | $2.4M | $3.5M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0129 | +0.148% | $163K | $4.6M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0135 | +0.206% | $439K | $7.4M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0115 | +0.008% | $222K | $393K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0164 | +0.492% | $126K | $672K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0162 | +0.473% | $2K | $1.6M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0147 | +0.324% | $6K | $1.8M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0149 | +0.344% | $619K | $18.6M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0150 | +0.354% | $11.7M | $28.1M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0141 | +0.266% | $1.4M | $4.0M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0152 | +0.378% | $39K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0192% | 1h | 1.0168 | +0.532% | $9K | $2K | 10x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0147 | +0.324% | $7.6M | $24.5M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0280% | 1h | 1.0160 | +0.453% | $1.0M | $14.7M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0366% | 1h | 1.0148 | +0.334% | $6.8M | $22.5M | 50x | as long as short |
| Phoenix SUIlong | +0.0431% | 1h | 1.0114 | long leg | $200K | $413K | 10x | |
| Hyperliquid SUI | +0.0454% | 1h | 1.0154 | +0.394% | $73.0M | $81.7M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0600% / S −0.0263% | 1h | 1.0133 | +0.184% | $931K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1383% | 1h | 1.0136 | +0.219% | $82K | $410K | 10x | as long as short |
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