Funding you earn now, next payment 07:00 UTC+0.0293%/8h= +32.1% APRnext payment +$0.37 per $10,000 · paid last 24h +0.053%
Price spread now: Phoenix against Polymarket Perps−0.018%7-day average +0.044% · 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−$47as in the Price arb table
costs, in and out, $10k−$400.405% of the position
Funding, last 7 days+0.096%+$10 on $10k
+Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.018%, 7d avg +0.044%
=Funding pays, the price is against you. Phoenix is 0.061% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.044%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.096% in total) that is about 4.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.096% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 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 | Polymarket Perps SUI-USD | 1.0158 | 0.0100 | pay 0.0013% / 1h | 16m 52s | $122K | $533K | 10x |
| Short | Phoenix SUI | 1.0156 | 0.0393 | get 0.0049% / 1h | 16m 52s | $202K | $400K | 10x |
Polymarket Perps SUI-USD
Phoenix SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $61.49
- Price spread: −0.018% → +0.044%
- −$6.13
- Slippage, 4 orders
- −$25.5
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $14.86
- Costs to cover
- 0.405%
- Break-even
- 5.3 days
Slippage from Polymarket Perps: live order book, 21 min ago; Phoenix: live order book, 20 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 Polymarket Perps live order book, 21 min ago | 1.98 bp | 7.8 bp −$8 | 8.2 bp −$82 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 20 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 | −0.2780% | 1h | 0.9983 | −1.723% | $41K | $113K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0381% | 1h | 1.0146 | −0.118% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0296% | 1h | 1.0146 | −0.115% | $5K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0146% | 1h | 1.0143 | −0.148% | $581K | $454K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0153 | −0.048% | $95K | $257K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0156 | −0.024% | $387K | $4.3M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0156 | −0.020% | $195K | $555K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0151 | −0.069% | $115K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0160 | +0.019% | $755K | $5.1M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0163 | +0.045% | $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 SUIUSDT | +0.0096% | 1h | 1.0153 | −0.049% | $43K | $527K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0153 | −0.049% | $47K | $253K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0153 | −0.050% | $27K | $8K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0150 | −0.084% | $676K | $2.2M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0161 | +0.027% | $902K | $4.2M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0156 | −0.015% | $216K | $253K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0160 | +0.020% | $146.2M | $991.8M | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0155 | −0.030% | $97.7M | $310.1M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0157 | −0.010% | $40.9M | $368.4M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0150 | −0.079% | $43K | $325K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0147 | −0.104% | $232K | $7K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0157 | −0.010% | $168.0M | $82.4M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0160 | +0.020% | $124.3M | $289.1M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0161 | +0.030% | $51.0M | $52.1M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0154 | −0.039% | $67.1M | $168.7M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0158 | 0.000% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0161 | +0.030% | $669K | $1.3M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0108 | −0.495% | $2.4M | $3.4M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0141 | −0.166% | $163K | $4.3M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0148 | −0.098% | $442K | $7.1M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0147 | −0.108% | $205K | $370K | 50x | as long as short |
| Polymarket Perps SUI-USDlong | +0.0100% | 1h | 1.0158 | long leg | $122K | $533K | 10x | |
| SunX SUI-USDT | +0.0100% | 8h | 1.0166 | +0.079% | $3K | $1.6M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0158 | 0.000% | $6K | $1.7M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0160 | +0.020% | $636K | $18.4M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0149 | −0.089% | $11.7M | $28.2M | 50x | as long as short |
| Hyperliquid SUI | +0.0102% | 1h | 1.0173 | +0.148% | $73.3M | $77.8M | 10x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0154 | −0.036% | $1.4M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0150 | −0.074% | $39K | $11K | 3x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0119% | 1h | 1.0160 | +0.023% | $6.8M | $21.6M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0136% | 1h | 1.0155 | −0.030% | $8K | $3K | 10x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0153 | −0.049% | $7.6M | $24.4M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0328% | 1h | 1.0146 | −0.118% | $1.0M | $14.3M | 50x | as long as short |
| Phoenix SUIshort | +0.0393% | 1h | 1.0156 | −0.018% | $202K | $400K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0601% / S −0.0263% | 1h | 1.0151 | −0.071% | $934K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1273% | 1h | 1.0136 | −0.217% | $82K | $409K | 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-USDC
Backpack SUI_USDC_PERP
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Phemex SUIUSDT
Hyperliquid SUI
Extended SUI-USD
Aevo SUI-PERP
Kraken Futures PF_SUIUSD
01 Exchange SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD