SUI

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0190%/8h= +20.8% APRnext payment +$0.24 per $10,000 · paid last 24h −0.088%

Price spread now: Phoenix against Hyperliquid−0.193%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Hyperliquid Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

Price spread, last 3 days (all we have)+0.321%+$32 · spread now −0.193%, 7d avg −0.019%

Together, before fees+0.144%+ Points / potential airdropHyperliquid: Season 2 · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.174% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.193% now, against its 7-day average of −0.019%). If the spread goes back, that is −$17 on $10k: about 3.1 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.176%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid SUI	1.0190	0.0100	pay 0.0013% / 1h	24m 36s	$72.6M	$81.8M	10x
Short	Phoenix SUI	1.0170	0.0290	get 0.0036% / 1h	24m 36s	$184K	$578K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hyperliquid. 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 HyperliquidbpFee PhoenixbpOrdersPrice spread, now −0.193%Rate

Funding earned: $39.81
Price spread: −0.193% → −0.019%: −$17.39
Slippage, 4 orders: −$22.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$15.76
Costs to cover: 0.382%
Break-even: 9.8 days

Slippage from Hyperliquid: live order book, 9 min ago; Phoenix: live order book, 63 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 Hyperliquid live order book, 9 min ago	0.49 bp	6.6 bp −$7	10.9 bp −$109	doesn't fit	doesn't fit
Sell Phoenix live order book, 63 min ago	0.98 bp	12.3 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	−0.2398%	1h	1.0145	−0.442%	$42K	$123K	12x	as long as short
Hibachi SUI/USDT-P	−0.0512%	1h	1.0169	−0.210%	$6K	$18K	7x	as long as short
Reya SUIRUSDPERP	−0.0366%	1h	1.0170	−0.197%	$4K	$3K	20x	as long as short
Bluefin SUI-PERP	−0.0130%	1h	1.0159	−0.304%	$582K	$405K	25x	as long as short
Kraken Futures PF_SUIUSD	−0.0022%	1h	1.0177	−0.132%	$6.8M	$23.8M	50x	as long as short
dYdX SUI-USD	0.0000%	1h	1.0180	−0.100%	$93K	$66K	10x	as long as short
Kalshi KXSUIPERP	0.0000%	8h	1.0185	−0.050%	$457K	$5.5M	2.5x	as long as short
Deribit SUI_USDC-PERPETUAL	0.0000%	1h	1.0175	−0.147%	$186K	$546K	25x	as long as short
gTrade (Gains Network) SUI/USD	L +0.0003% / S −0.0002%	1h	1.0172	−0.179%	$118K	—	150x	as long as short
Lighter SUI	+0.0096%	1h	1.0178	−0.113%	$769K	$5.9M	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH SUI	+0.0096%	1h	1.0182	−0.079%	$251K	$2.0M	10x	as long as short
Popdex SUIUSDT	+0.0096%	1h	1.0170	−0.196%	$35K	$503K	50x	as long as short
Orderly PERP_SUI_USDC	+0.0098%	8h	1.0173	−0.167%	$44K	$377K	20x	as long as short
Paradex SUI-USD-PERP	+0.0100%	8h	1.0176	−0.135%	$27K	$9K	30x	as long as short
Nado SUI-PERP	+0.0100%	1h	1.0178	−0.113%	$593K	$1.3M	10x	as long as short
Hyperliquid SUIlong	+0.0100%	1h	1.0190	long leg	$72.6M	$81.8M	10x
Aster SUIUSDT	+0.0100%	8h	1.0181	−0.090%	$993K	$4.5M	75x	as long as short
Pacifica SUI	+0.0100%	1h	1.0180	−0.098%	$220K	$260K	10x	as long as short
Binance SUIUSDT	+0.0100%	8h	1.0174	−0.162%	$150.7M	$1.03B	75x	as long as short
Bybit SUIUSDT	+0.0100%	8h	1.0171	−0.183%	$102.0M	$306.9M	50x	as long as short
OKX SUI-USDT-SWAP	+0.0100%	8h	1.0174	−0.157%	$40.8M	$381.5M	50x	as long as short
Arcus SUI-USD	+0.0100%	1h	1.0180	−0.098%	$147K	$297K	10x	as long as short
Bulk SUI-USD	+0.0100%	1h	1.0155	−0.339%	$239K	$2K	10x	as long as short
Gate SUI_USDT	+0.0100%	8h	1.0176	−0.137%	$163.8M	$81.1M	50x	as long as short
MEXC SUI_USDT	+0.0100%	8h	1.0170	−0.196%	$147.7M	$298.0M	300x	as long as short
KuCoin SUIUSDTM	+0.0100%	8h	1.0177	−0.128%	$52.3M	$51.3M	75x	as long as short
Bitget SUIUSDT	+0.0100%	8h	1.0165	−0.245%	$66.8M	$169.1M	75x	as long as short
BingX SUI-USDC	+0.0100%	8h	1.0175	−0.147%	—	$6.5M	—	as long as short
Backpack SUI_USDC_PERP	+0.0100%	1h	1.0173	−0.167%	$641K	$1.2M	20x	as long as short
Variational Omni SUI	+0.0100%	8h	1.0167	−0.229%	$2.2M	$2.8M	—	as long as short
edgeX SUIUSDC	+0.0100%	4h	1.0151	−0.381%	$163K	$4.5M	20x	as long as short
GRVT SUI_USDT_Perp	+0.0100%	8h	1.0156	−0.332%	$446K	$7.1M	10x	as long as short
ApeX Omni SUIUSDT	+0.0100%	1h	1.0153	−0.363%	$230K	$444K	50x	as long as short
Polymarket Perps SUI-USD	+0.0100%	1h	1.0176	−0.137%	$106K	$785K	10x	as long as short
SunX SUI-USDT	+0.0100%	8h	1.0188	−0.020%	$2K	$1.9M	30x	as long as short
SoDEX SUI-USD	+0.0100%	1h	1.0172	−0.177%	$6K	$2.4M	10x	as long as short
HTX SUI-USDT	+0.0100%	8h	1.0178	−0.118%	$627K	$18.8M	75x	as long as short
Phemex SUIUSDT	+0.0100%	8h	1.0169	−0.206%	$11.4M	$24.4M	50x	as long as short
Extended SUI-USD	+0.0104%	1h	1.0172	−0.181%	$1.4M	$3.7M	50x	as long as short
01 Exchange SUIUSD	+0.0104%	1h	1.0174	−0.157%	$9K	$9K	10x	as long as short
Aevo SUI-PERP	+0.0104%	1h	1.0172	−0.173%	$48K	$37K	3x	as long as short
Coinbase International SUI-PERP-INTX	+0.0216%	1h	1.0172	−0.177%	$972K	$13.7M	50x	as long as short
BloFin SUI-USDT	+0.0220%	8h	1.0176	−0.137%	$8.0M	$23.7M	100x	as long as short
Phoenix SUIshort	+0.0290%	1h	1.0170	−0.193%	$184K	$578K	10x
GMX SUI/USD [ETH-USDC]	L +0.0629% / S −0.0300%	1h	1.0171	−0.190%	$872K	—	100x	as long as short
Aftermath Perps SUIUSD	+0.0711%	1h	1.0159	−0.301%	$92K	$378K	10x	as long as short