Funding arb · Price arb /

SUI

all SUI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0150%/8h= +16.5% APRpaid last 24h +0.061%

Price spread now: Phoenix against Bybit+0.264%46s7-day average +0.110% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as 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−$390.393% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.264%, 7d avg +0.110%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.153% dearer against Bybit than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of +0.110%. The two prices were read 46 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	1.0153	0.0100	pay 0.0100% / 8h	5h 52m	$97.0M	$269.5M	50x
Short	Phoenix SUI	1.0180	0.0250	get 0.0031% / 1h	52m 32s	$203K	$318K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.264%Rate

Funding earned: $31.56
Price spread: +0.264% → +0.110%: $15.35
Slippage, 4 orders: −$21.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $7.62
Costs to cover: 0.393%
Break-even: 5.3 days

Slippage from Bybit: live order book, 5 min ago; Phoenix: live order book, 57 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 Bybit live order book, 5 min ago	0.49 bp	7.7 bp −$8	12.4 bp −$124	39.3 bp −$3,928	doesn't fit
Sell Phoenix live order book, 57 min ago	0.99 bp	12.4 bp −$12	43.1 bp −$431	doesn't fit	doesn't fit

SUI on 46 exchanges

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	−0.3324%	1h	1.0075	−0.768%	$41K	$113K	12x	as long as short
Reya SUIRUSDPERP	−0.0385%	1h	1.0162	+0.085%	$4K	$3K	20x	as long as short
Hibachi SUI/USDT-P	−0.0368%	1h	1.0164	+0.106%	$5K	$16K	7x	as long as short
Bluefin SUI-PERP	−0.0285%	1h	1.0152	−0.010%	$584K	$407K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0042%	1h	1.0172	+0.188%	$6.9M	$19.6M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0159	+0.056%	$95K	$241K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0175	+0.215%	$379K	$3.7M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0168	+0.148%	$193K	$501K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0003%	1h	1.0165	+0.113%	$116K	—	150x	as long as short
01 Exchange SUIUSD	+0.0024%	1h	1.0150	−0.030%	$8K	$3K	10x	as long as short

Show all 46 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter SUI	+0.0096%	1h	1.0159	+0.063%	$738K	$4.5M	10x	as long as short
Lighter RH SUI	+0.0096%	1h	1.0159	+0.060%	$326K	$2.1M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0149	−0.039%	$54K	$517K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0099%	8h	1.0166	+0.128%	$55K	$700K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0155	+0.015%	$27K	$2K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0162	+0.094%	$660K	$2.0M	10x	as long as short
Hyperliquid SUI	+0.0100%	1h	1.0164	+0.106%	$72.8M	$66.1M	10x	as long as short
Aster SUIUSDT	+0.0100%	8h	1.0160	+0.066%	$903K	$3.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0159	+0.057%	$216K	$207K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0158	+0.049%	$143.6M	$870.9M	75x	as long as short
Bybit SUIUSDTlong	+0.0100%	8h	1.0153	long leg	$97.0M	$269.5M	50x
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0151	−0.020%	$41.2M	$315.4M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0160	+0.069%	$43K	$311K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0190	+0.364%	$233K	$8K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0152	−0.010%	$167.8M	$67.6M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0158	+0.049%	$95.2M	$245.4M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0159	+0.059%	$50.4M	$46.6M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0150	−0.030%	$66.5M	$141.5M	75x	as long as short
BingX SUI-USDT	+0.0100%	8h	1.0152	−0.010%	—	$83.8M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0161	+0.079%	$650K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0171	+0.176%	$2.4M	$2.7M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0192	+0.386%	$164K	$3.8M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0172	+0.184%	$440K	$6.7M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0174	+0.207%	$205K	$385K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0168	+0.148%	$122K	$476K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0181	+0.276%	$2K	$1.3M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0166	+0.128%	$6K	$1.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0168	+0.148%	$753K	$16.8M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0167	+0.138%	$11.7M	$28.2M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0147	−0.063%	$1.5M	$3.5M	50x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0168	+0.143%	$39K	$11K	3x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0174	+0.207%	$7.5M	$22.5M	100x	as long as short
Phoenix SUIshort	+0.0250%	1h	1.0180	+0.264%	$203K	$318K	10x
Coinbase International SUI-PERP-INTX	+0.0312%	1h	1.0171	+0.177%	$1.0M	$11.2M	50x	as long as short
GMX SUI/USD [ETH-USDC]	L +0.0608% / S −0.0268%	1h	1.0165	+0.119%	$947K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0869%	1h	1.0189	+0.351%	$80K	$404K	10x	as long as short