Funding you earn now, next payment 00:00 UTC+0.0606%/8h= +66.3% APRpaid last 24h +0.112%
Price spread now: Hyperliquid against Phemex+0.174%7-day average +0.096% · you sell dearer than you buy
Net, funding: paid 7d − costs−$14as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$400.396% of the position
Funding, last 7 days+0.258%+$26 on $10k
+Price spread, last 3 days (all we have)−0.082%−$8 · spread now +0.174%, 7d avg +0.096%
=Together, before fees+0.176%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.078% dearer against Phemex than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.096%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.258% in total (about 13.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex SUIUSDT | 1.0357 | 0.0100 | pay 0.0100% / 8h | 42m 46s | $11.6M | $24.8M | 50x |
| Short | Hyperliquid SUI | 1.0375 | 0.0706 | get 0.0088% / 1h | 42m 46s | $74.8M | $80.8M | 10x |
Phemex SUIUSDT
Hyperliquid SUIFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $127.2
- Price spread: +0.174% → +0.096%
- $7.81
- Slippage, 4 orders
- −$18.58
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $95.43
- Costs to cover
- 0.396%
- Break-even
- 1.7 days
Slippage from Phemex: live order book, 6 min ago; Hyperliquid: live order book, 11 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 Phemex live order book, 6 min ago | 1.93 bp | 10.3 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.97 bp | 6.5 bp −$7 | 13.5 bp −$135 | 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 | −0.3474% | 1h | 1.0207 | −1.448% | $42K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0369% | 1h | 1.0356 | −0.012% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0328% | 1h | 1.0361 | +0.039% | $6K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0003% | 1h | 1.0345 | −0.116% | $593K | $405K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0363 | +0.054% | $94K | $66K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0368 | +0.104% | $464K | $5.4M | 2.5x | as long as short |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0358 | +0.010% | $201K | $581K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0358 | +0.010% | $120K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0359 | +0.022% | $797K | $5.9M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0360 | +0.028% | $261K | $2.0M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
Kalshi KXSUIPERP
Deribit SUI_USDC-PERPETUAL
gTrade (Gains Network) SUI/USD
Lighter SUI
Lighter RH SUIShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Popdex SUIUSDT | +0.0096% | 1h | 1.0356 | −0.010% | $38K | $495K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0099% | 8h | 1.0356 | −0.010% | $46K | $329K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0361 | +0.037% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0358 | +0.010% | $598K | $1.4M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0358 | +0.012% | $1.0M | $4.6M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0367 | +0.095% | $225K | $260K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0359 | +0.017% | $152.1M | $1.02B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0360 | +0.031% | $103.8M | $307.0M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0357 | 0.000% | $41.4M | $386.8M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0360 | +0.029% | $46K | $387K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0371 | +0.134% | $244K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0361 | +0.039% | $166.0M | $80.9M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0361 | +0.039% | $150.0M | $290.0M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0359 | +0.019% | $51.8M | $52.2M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0354 | −0.029% | $68.0M | $168.8M | 75x | as long as short |
| BingX SUI-USDT | +0.0100% | 8h | 1.0361 | +0.039% | — | $81.7M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0354 | −0.029% | $660K | $1.1M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0378 | +0.205% | $2.3M | $2.8M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0366 | +0.082% | $169K | $4.4M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0356 | −0.011% | $445K | $7.0M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0367 | +0.097% | $235K | $442K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0364 | +0.068% | $108K | $778K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0364 | +0.068% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0351 | −0.058% | $7K | $2.4M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0352 | −0.048% | $641K | $18.5M | 75x | as long as short |
| Phemex SUIUSDTlong | +0.0100% | 8h | 1.0357 | long leg | $11.6M | $24.8M | 50x | |
| Extended SUI-USD | +0.0104% | 1h | 1.0358 | +0.006% | $1.4M | $3.8M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0104% | 1h | 1.0361 | +0.039% | $9K | $9K | 10x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0362 | +0.051% | $49K | $37K | 3x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0353 | −0.039% | $7.9M | $24.2M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0224% | 1h | 1.0376 | +0.183% | $987K | $14.0M | 50x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0273% | 1h | 1.0355 | −0.015% | $7.2M | $24.1M | 50x | as long as short |
| Phoenix SUI | +0.0327% | 1h | 1.0375 | +0.178% | $206K | $593K | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0638% / S −0.0309% | 1h | 1.0357 | −0.003% | $905K | — | 100x | as long as short |
| Hyperliquid SUIshort | +0.0706% | 1h | 1.0375 | +0.174% | $74.8M | $80.8M | 10x | |
| Aftermath Perps SUIUSD | +0.0818% | 1h | 1.0361 | +0.039% | $94K | $381K | 10x | as long as short |
Popdex SUIUSDT
Orderly PERP_SUI_USDC
Paradex SUI-USD-PERP
Nado SUI-PERP
Aster SUIUSDT
Pacifica SUI
Binance SUIUSDT
Bybit SUIUSDT
OKX SUI-USDT-SWAP
Arcus SUI-USD
Bulk SUI-USD
Gate SUI_USDT
MEXC SUI_USDT
KuCoin SUIUSDTM
Bitget SUIUSDT
BingX SUI-USDT
Backpack SUI_USDC_PERP
Variational Omni SUI
edgeX SUIUSDC
GRVT SUI_USDT_Perp
ApeX Omni SUIUSDT
Polymarket Perps SUI-USD
SunX SUI-USDT
SoDEX SUI-USD
HTX SUI-USDT
Extended SUI-USD
01 Exchange SUIUSD
Aevo SUI-PERP
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Kraken Futures PF_SUIUSD
Phoenix SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD