Funding arb · Price arb /

SUI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0163%/8h= +17.8% APRpaid last 24h +0.045%

Price spread now: GMX against Bybit−0.102%71s7-day average +0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.102%, 7d avg +0.016%

Together, before fees+0.197%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.117% cheaper against Bybit than usual: you would sell low and buy high (spread −0.102% now, against its 7-day average of +0.016%). If the spread goes back, that is −$12 on $10k: about 2.4 days of funding at the current rate (+$5 a day). The two prices were read 71 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	Bybit SUIUSDT	1.0151	0.0100	pay 0.0100% / 8h	14m 03s	$97.7M	$309.6M	50x
Short	GMX SUI/USD [ETH-USDC]	1.0141	L +0.0601% / S −0.0263%	get 0.0033% / 1h	14m 03s	$932K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $34.17
Price spread: −0.102% → +0.016%: −$11.73
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$0.56
Costs to cover: 0.230%
Break-even: 7.1 days

Slippage unknown: Bybit: live order book, 5 min ago; GMX: no order-book sample. Net counts fees only.

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 Bybit live order book, 5 min ago	0.49 bp	8.9 bp −$9	15.1 bp −$151	39.5 bp −$3,947	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−1.655%	$41K	$113K	12x	as long as short
Reya SUIRUSDPERP	−0.0381%	1h	1.0136	−0.151%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0288%	1h	1.0141	−0.100%	$5K	$19K	7x	as long as short
Bluefin SUI-PERP	−0.0126%	1h	1.0143	−0.079%	$581K	$454K	25x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0154	+0.030%	$95K	$257K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0160	+0.088%	$389K	$4.2M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0157	+0.059%	$195K	$555K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0153	+0.020%	$115K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0156	+0.052%	$754K	$5.1M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0158	+0.066%	$297K	$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	1.0151	0.000%	$43K	$528K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0100%	8h	1.0156	+0.049%	$47K	$257K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0160	+0.086%	$27K	$8K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0149	−0.015%	$676K	$2.2M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0153	+0.015%	$901K	$4.2M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0154	+0.033%	$216K	$253K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0154	+0.032%	$146.1M	$990.2M	75x	as long as short
Bybit SUIUSDTlong	+0.0100%	8h	1.0151	long leg	$97.7M	$309.6M	50x
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0155	+0.039%	$40.9M	$368.0M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0160	+0.089%	$43K	$324K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0147	−0.035%	$232K	$7K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0155	+0.039%	$168.1M	$82.5M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0154	+0.030%	$121.0M	$289.7M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0156	+0.049%	$51.0M	$52.1M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0155	+0.039%	$67.1M	$168.3M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0158	+0.069%	—	$88.3M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0154	+0.030%	$669K	$1.3M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0144	−0.070%	$2.4M	$3.4M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0152	+0.014%	$163K	$4.3M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0148	−0.030%	$442K	$7.1M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0147	−0.039%	$205K	$370K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0158	+0.069%	$122K	$533K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0166	+0.148%	$3K	$1.6M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0154	+0.030%	$6K	$1.7M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0152	+0.010%	$633K	$18.4M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0152	+0.010%	$11.7M	$28.2M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0148	−0.028%	$1.4M	$4.1M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0154	+0.031%	$39K	$11K	3x	as long as short
Hyperliquid SUI	+0.0111%	1h	1.0168	+0.167%	$73.3M	$77.8M	10x	as long as short
Kraken Futures PF_SUIUSD	+0.0119%	1h	1.0154	+0.034%	$6.8M	$21.6M	50x	as long as short
01 Exchange SUIUSD	+0.0136%	1h	1.0152	+0.010%	$8K	$3K	10x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0142	−0.089%	$7.5M	$24.4M	100x	as long as short
Coinbase International SUI-PERP-INTX	+0.0328%	1h	1.0169	+0.177%	$1.0M	$14.4M	50x	as long as short
Phoenix SUI	+0.0393%	1h	1.0156	+0.051%	$202K	$400K	10x	as long as short
GMX SUI/USD [ETH-USDC]short	L +0.0601% / S −0.0263%	1h	1.0141	−0.102%	$932K	—	100x
Aftermath Perps SUIUSD	+0.1262%	1h	1.0147	−0.039%	$82K	$409K	10x	as long as short