Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h +0.025%

Price spread now: Kraken Futures against BloFin+0.094%57s7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$900.905% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 3 days (all we have)+0.277%+$28 · spread now +0.094%, 7d avg +0.070%

Together, before fees+0.267%+$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.024% dearer against BloFin than usual: you sell high and buy low (spread +0.094% now, against its 7-day average of +0.070%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours. At the pace of the last 7 days (−0.010% in total) that is about 16 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin SUSHI-USDT	0.2546	0.0072	pay 0.0072% / 8h	35m 37s	$217K	$65K	75x
Short	Kraken Futures PF_SUSHIUSD	0.2548	−0.0012	pay 0.0001% / 1h	35m 37s	$765K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.094%Rate

Funding earned: −$17.65
Price spread: +0.094% → +0.070%: $2.4
Slippage, 4 orders: −$68.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$105.75
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from BloFin: live order book, 34 min ago; Kraken Futures: live order book, 43 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 BloFin live order book, 34 min ago	3.95 bp	14.8 bp −$15	28.4 bp −$284	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 43 min ago	13.80 bp	30.2 bp −$30	doesn't fit	doesn't fit	doesn't fit

SUSHI on 15 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
Kraken Futures PF_SUSHIUSDshort	−0.0012%	1h	0.2548	+0.094%	$765K	$67K	20x
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	−0.039%	$16	$18K	5.5x	as long as short
Bitget SUSHIUSDT	+0.0050%	8h	0.2544	−0.079%	$1.0M	$684K	50x	as long as short
BloFin SUSHI-USDTlong	+0.0072%	8h	0.2546	long leg	$217K	$65K	75x
Variational Omni SUSHI	+0.0088%	8h	0.2544	−0.070%	$41K	$14K	—	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2547	+0.027%	$355K	$404K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2549	+0.101%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2543	−0.130%	$3.9M	$8.9M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2542	−0.153%	$2.6M	$2.4M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2548	+0.079%	$1.7M	$3.0M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate SUSHI_USDT	+0.0100%	8h	0.2551	+0.196%	$564K	$296K	50x	as long as short
MEXC SUSHI_USDT	+0.0100%	8h	0.2543	−0.118%	$1.3M	$302K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2547	+0.039%	$1.2M	$227K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2545	−0.039%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2547	+0.039%	$89K	$59K	75x	as long as short