Funding you earn now, next payment 00:00 UTC+0.0590%/8h= +64.6% APRnext payment +$0.74 per $10,000 · paid last 24h −0.036%
Price spread now: Deribit against Phoenix+0.288%70s7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as 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−$410.412% of the position
Funding, last 7 days+0.002%$0 on $10k
+Price spread, last 3 days (all we have)−0.189%−$19 · spread now +0.288%, 7d avg −0.035%
=Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Deribit is 0.324% dearer against Phoenix than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.035%. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.002% in total (about 0.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.74 per $10,000. 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 | Phoenix SUI | 1.0513 | 0.0299 | pay 0.0037% / 1h | 30m 14s | $208K | $590K | 10x |
| Short | Deribit SUI_USDC-PERPETUAL | 1.0543 | 0.0889 | get 0.0111% / 1h | 30m 14s | $205K | $583K | 25x |
Phoenix SUI
Deribit SUI_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. 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
- $123.93
- Price spread: +0.288% → −0.035%
- $32.35
- Slippage, 4 orders
- −$27.25
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $115.03
- Costs to cover
- 0.412%
- Break-even
- 0.5 days
Slippage from Phoenix: live order book, 42 min ago; Deribit: live order book, 44 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 Phoenix live order book, 42 min ago | 0.96 bp | 12.3 bp −$12 | 50.6 bp −$506 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 44 min ago | 4.83 bp | 8.3 bp −$8 | 15.4 bp −$154 | 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 | −0.3416% | 1h | 1.0330 | −1.738% | $42K | $123K | 12x | as long as short |
| Bluefin SUI-PERP | −0.0628% | 1h | 1.0516 | +0.031% | $604K | $409K | 25x | as long as short |
| Hibachi SUI/USDT-P | −0.0432% | 1h | 1.0492 | −0.195% | $6K | $18K | 7x | as long as short |
| Reya SUIRUSDPERP | −0.0371% | 1h | 1.0527 | +0.136% | $4K | $3K | 20x | as long as short |
| Phemex SUIUSDT | −0.0344% | 8h | 1.0533 | +0.193% | $11.8M | $25.1M | 50x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0539 | +0.249% | $97K | $169K | 10x | as long as short |
| Kalshi KXSUIPERP | 0.0000% | 8h | 1.0559 | +0.443% | $484K | $4.9M | 2.5x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0002% | 1h | 1.0531 | +0.172% | $121K | — | 150x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0038% | 1h | 1.0539 | +0.251% | $7.3M | $23.8M | 50x | as long as short |
| 01 Exchange SUIUSD | +0.0080% | 1h | 1.0540 | +0.260% | $9K | $9K | 10x | as long as short |
Injective SUI/USDC PERP
Bluefin SUI-PERP
Hibachi SUI/USDT-P
Reya SUIRUSDPERP
Phemex SUIUSDT
dYdX SUI-USD
Kalshi KXSUIPERP
gTrade (Gains Network) SUI/USD
Kraken Futures PF_SUIUSD
01 Exchange SUIUSDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter SUI | +0.0096% | 1h | 1.0533 | +0.195% | $816K | $5.8M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0534 | +0.206% | $274K | $2.0M | 10x | as long as short |
| Popdex SUIUSDT | +0.0096% | 1h | 1.0533 | +0.193% | $29K | $485K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0529 | +0.155% | $47K | $313K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0539 | +0.250% | $28K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0541 | +0.274% | $669K | $1.4M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0534 | +0.206% | $1.0M | $4.8M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0539 | +0.254% | $229K | $256K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0533 | +0.196% | $156.6M | $1.02B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0541 | +0.271% | $105.8M | $304.8M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0539 | +0.250% | $42.2M | $388.1M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0530 | +0.165% | $47K | $387K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0450 | −0.600% | $246K | $813 | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0540 | +0.260% | $170.4M | $80.9M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0537 | +0.231% | $154.7M | $293.9M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0528 | +0.146% | $51.4M | $52.7M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0538 | +0.241% | $69.4M | $165.4M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0543 | +0.288% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0542 | +0.279% | $681K | $1.1M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0491 | −0.208% | $2.4M | $2.9M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0495 | −0.167% | $171K | $4.5M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0526 | +0.122% | $458K | $7.4M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0504 | −0.083% | $241K | $479K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0543 | +0.288% | $120K | $755K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0547 | +0.326% | $2K | $1.9M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0532 | +0.184% | $6K | $2.3M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0530 | +0.165% | $649K | $18.6M | 75x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0528 | +0.148% | $1.5M | $3.9M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0536 | +0.221% | $40K | $16K | 3x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0200% | 1h | 1.0534 | +0.203% | $993K | $14.4M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0492 | −0.197% | $8.1M | $24.6M | 100x | as long as short |
| Phoenix SUIlong | +0.0299% | 1h | 1.0513 | long leg | $208K | $590K | 10x | |
| Hyperliquid SUI | +0.0408% | 1h | 1.0553 | +0.383% | $76.9M | $79.0M | 10x | as long as short |
| GMX SUI/USD [ETH-USDC] | L +0.0641% / S −0.0324% | 1h | 1.0530 | +0.167% | $916K | — | 100x | as long as short |
| Deribit SUI_USDC-PERPETUALshort | +0.0889% | 1h | 1.0543 | +0.288% | $205K | $583K | 25x | |
| Aftermath Perps SUIUSD | +0.0913% | 1h | 1.0497 | −0.150% | $94K | $368K | 10x | as long as short |
Lighter SUI
Lighter RH SUI
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-USDC
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
Aevo SUI-PERP
Coinbase International SUI-PERP-INTX
BloFin SUI-USDT
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD