Funding arb · Price arb /

SUI

all SUI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Phemex against Backpack0.000%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now 0.000%, 7d avg +0.020%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack SUI_USDC_PERP	1.0177	0.0100	pay 0.0013% / 1h	35m 21s	$628K	$1.3M	20x
Short	Phemex SUIUSDT	1.0177	0.0100	get 0.0100% / 8h	2h 35m	$11.7M	$27.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Backpack. 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 BackpackbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.020%: −$1.99
Slippage, 4 orders: −$17.63
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.63
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Phemex: live order book, 4 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 Backpack live order book, 4 min ago	0.49 bp	8.7 bp −$9	35.1 bp −$351	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.97 bp	9.1 bp −$9	22.5 bp −$225	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	−0.3309%	1h	1.0121	−0.550%	$42K	$123K	12x	as long as short
Reya SUIRUSDPERP	−0.0378%	1h	1.0179	+0.020%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0160%	1h	1.0186	+0.089%	$6K	$19K	7x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0179	+0.023%	$128K	$227K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0187	+0.094%	$482K	$5.0M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0171	−0.059%	$198K	$562K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0172	−0.049%	$114K	—	150x	as long as short
Bluefin SUI-PERP	+0.0061%	1h	1.0157	−0.197%	$583K	$406K	25x	as long as short
Lighter SUI	+0.0096%	1h	1.0185	+0.076%	$777K	$5.4M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0188	+0.107%	$303K	$2.2M	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	1.0182	+0.049%	$48K	$519K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0170	−0.069%	$47K	$201K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0188	+0.103%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0179	+0.025%	$567K	$2.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0182	+0.045%	$887K	$4.3M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0188	+0.110%	$220K	$254K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0179	+0.020%	$145.3M	$1.04B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0181	+0.038%	$100.4M	$309.7M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0182	+0.049%	$40.4M	$384.3M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0190	+0.128%	$43K	$330K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0196	+0.189%	$240K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0185	+0.079%	$169.6M	$83.6M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0178	+0.010%	$150.2M	$291.6M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0181	+0.039%	$50.0M	$53.8M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0176	−0.010%	$66.3M	$175.2M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0175	−0.020%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERPlong	+0.0100%	1h	1.0177	long leg	$628K	$1.3M	20x
Variational Omni SUI	+0.0100%	8h	1.0171	−0.060%	$2.4M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0184	+0.071%	$164K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0189	+0.114%	$441K	$7.5M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0185	+0.079%	$222K	$435K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0190	+0.128%	$136K	$726K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0200	+0.226%	$3K	$1.7M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0170	−0.069%	$14K	$1.9M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0174	−0.029%	$599K	$19.3M	75x	as long as short
Phemex SUIUSDTshort	+0.0100%	8h	1.0177	0.000%	$11.7M	$27.5M	50x
Extended SUI-USD	+0.0104%	1h	1.0179	+0.023%	$1.4M	$4.1M	50x	as long as short
01 Exchange SUIUSD	+0.0104%	1h	1.0182	+0.049%	$9K	$3K	10x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0168	−0.093%	$39K	$11K	3x	as long as short
Kraken Futures PF_SUIUSD	+0.0172%	1h	1.0173	−0.042%	$6.7M	$24.6M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0187	+0.098%	$7.6M	$24.4M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0248%	1h	1.0192	+0.147%	$973K	$14.9M	50x	as long as short
Hyperliquid SUI	+0.0336%	1h	1.0190	+0.128%	$73.1M	$80.2M	10x	as long as short
Phoenix SUI	+0.0416%	1h	1.0190	+0.124%	$202K	$422K	10x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0602% / S −0.0263%	1h	1.0172	−0.051%	$935K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.1375%	1h	1.0197	+0.193%	$82K	$408K	10x	as long as short