Funding you earn now, next payment 05:00 UTC−0.0416%/8h= −45.5% APRpaid last 24h −0.075%
Price spread now: Kalshi against Phoenix−0.124%46s7-day average −0.287% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as 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−$540.537% of the position
Funding, last 7 days−0.212%−$21 on $10k
+Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.124%, 7d avg −0.287%
=The price spread pays, funding is against you. Kalshi is 0.163% dearer against Phoenix than usual: you sell high and buy low (spread −0.124% now, against its 7-day average of −0.287%): +$16 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 31 hours. At the pace of the last 7 days (−0.212% in total) that is about 5.4 days. The two prices were read 46 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 -0.212% in total (about -11.1% 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 | Phoenix SUI | 1.0233 | 0.0416 | pay 0.0052% / 1h | 3m 29s | $203K | $422K | 10x |
| Short | Kalshi KXSUIPERP | 1.0220 | 0 | get 0.0000% / 8h | 6h 03m | $380K | $5.1M | 2.5x |
Phoenix SUI
Kalshi KXSUIPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi 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
- −$87.3
- Price spread: −0.124% → −0.287%
- $16.3
- Slippage, 4 orders
- −$36.67
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$124.66
- Costs to cover
- 0.537%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 44 min ago; Kalshi: live order book, 5 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, 44 min ago | 0.98 bp | 12.3 bp −$12 | 50.8 bp −$508 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 5 min ago | 9.48 bp | 14.5 bp −$14 | 21.6 bp −$216 | 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 | −0.3309% | 1h | 1.0018 | −2.097% | $41K | $123K | 12x | as long as short |
| Reya SUIRUSDPERP | −0.0379% | 1h | 1.0205 | −0.273% | $4K | $3K | 20x | as long as short |
| Hibachi SUI/USDT-P | −0.0184% | 1h | 1.0216 | −0.165% | $5K | $19K | 7x | as long as short |
| Bluefin SUI-PERP | −0.0002% | 1h | 1.0203 | −0.289% | $585K | $430K | 25x | as long as short |
| dYdX SUI-USD | 0.0000% | 1h | 1.0209 | −0.231% | $96K | $294K | 10x | as long as short |
| Kalshi KXSUIPERPshort | 0.0000% | 8h | 1.0220 | −0.124% | $380K | $5.1M | 2.5x | |
| Deribit SUI_USDC-PERPETUAL | 0.0000% | 1h | 1.0218 | −0.143% | $196K | $564K | 25x | as long as short |
| gTrade (Gains Network) SUI/USD | L +0.0003% / S −0.0003% | 1h | 1.0217 | −0.150% | $115K | — | 150x | as long as short |
| Lighter SUI | +0.0096% | 1h | 1.0214 | −0.180% | $794K | $5.5M | 10x | as long as short |
| Lighter RH SUI | +0.0096% | 1h | 1.0219 | −0.131% | $298K | $2.2M | 10x | as long as short |
Injective SUI/USDC PERP
Reya SUIRUSDPERP
Hibachi SUI/USDT-P
Bluefin SUI-PERP
dYdX SUI-USD
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 | 1.0210 | −0.221% | $33K | $547K | 50x | as long as short |
| Orderly PERP_SUI_USDC | +0.0100% | 8h | 1.0215 | −0.172% | $47K | $215K | 20x | as long as short |
| Paradex SUI-USD-PERP | +0.0100% | 8h | 1.0213 | −0.193% | $27K | $9K | 30x | as long as short |
| Nado SUI-PERP | +0.0100% | 1h | 1.0207 | −0.250% | $542K | $2.1M | 10x | as long as short |
| Aster SUIUSDT | +0.0100% | 8h | 1.0212 | −0.201% | $903K | $4.3M | 75x | as long as short |
| Pacifica SUI | +0.0100% | 1h | 1.0214 | −0.178% | $221K | $257K | 10x | as long as short |
| Binance SUIUSDT | +0.0100% | 8h | 1.0211 | −0.214% | $146.8M | $1.05B | 75x | as long as short |
| Bybit SUIUSDT | +0.0100% | 8h | 1.0204 | −0.280% | $99.9M | $321.2M | 50x | as long as short |
| OKX SUI-USDT-SWAP | +0.0100% | 8h | 1.0206 | −0.260% | $41.0M | $391.9M | 50x | as long as short |
| Arcus SUI-USD | +0.0100% | 1h | 1.0220 | −0.123% | $43K | $329K | 10x | as long as short |
| Bulk SUI-USD | +0.0100% | 1h | 1.0179 | −0.524% | $239K | $2K | 10x | as long as short |
| Gate SUI_USDT | +0.0100% | 8h | 1.0210 | −0.221% | $168.4M | $86.1M | 50x | as long as short |
| MEXC SUI_USDT | +0.0100% | 8h | 1.0214 | −0.182% | $152.1M | $295.4M | 300x | as long as short |
| KuCoin SUIUSDTM | +0.0100% | 8h | 1.0214 | −0.182% | $49.7M | $53.6M | 75x | as long as short |
| Bitget SUIUSDT | +0.0100% | 8h | 1.0205 | −0.270% | $67.3M | $178.1M | 75x | as long as short |
| BingX SUI-USDC | +0.0100% | 8h | 1.0213 | −0.192% | — | $6.5M | — | as long as short |
| Backpack SUI_USDC_PERP | +0.0100% | 1h | 1.0211 | −0.211% | $668K | $1.4M | 20x | as long as short |
| Variational Omni SUI | +0.0100% | 8h | 1.0225 | −0.077% | $2.4M | $3.5M | — | as long as short |
| edgeX SUIUSDC | +0.0100% | 4h | 1.0214 | −0.182% | $165K | $4.6M | 20x | as long as short |
| GRVT SUI_USDT_Perp | +0.0100% | 8h | 1.0208 | −0.238% | $442K | $7.6M | 10x | as long as short |
| ApeX Omni SUIUSDT | +0.0100% | 1h | 1.0213 | −0.192% | $224K | $424K | 50x | as long as short |
| Polymarket Perps SUI-USD | +0.0100% | 1h | 1.0215 | −0.172% | $134K | $651K | 10x | as long as short |
| SunX SUI-USDT | +0.0100% | 8h | 1.0230 | −0.025% | $3K | $1.7M | 30x | as long as short |
| SoDEX SUI-USD | +0.0100% | 1h | 1.0212 | −0.201% | $6K | $1.9M | 10x | as long as short |
| HTX SUI-USDT | +0.0100% | 8h | 1.0214 | −0.182% | $618K | $19.4M | 75x | as long as short |
| Phemex SUIUSDT | +0.0100% | 8h | 1.0213 | −0.192% | $11.7M | $27.9M | 50x | as long as short |
| Extended SUI-USD | +0.0104% | 1h | 1.0208 | −0.240% | $1.4M | $4.1M | 50x | as long as short |
| Aevo SUI-PERP | +0.0104% | 1h | 1.0220 | −0.123% | $39K | $11K | 3x | as long as short |
| 01 Exchange SUIUSD | +0.0144% | 1h | 1.0218 | −0.143% | $9K | $3K | 10x | as long as short |
| Kraken Futures PF_SUIUSD | +0.0172% | 1h | 1.0215 | −0.168% | $6.8M | $25.0M | 50x | as long as short |
| BloFin SUI-USDT | +0.0220% | 8h | 1.0210 | −0.221% | $7.5M | $24.9M | 100x | as long as short |
| Coinbase International SUI-PERP-INTX | +0.0248% | 1h | 1.0216 | −0.162% | $1.0M | $15.1M | 50x | as long as short |
| Hyperliquid SUI | +0.0382% | 1h | 1.0222 | −0.104% | $73.5M | $82.7M | 10x | as long as short |
| Phoenix SUIlong | +0.0416% | 1h | 1.0233 | long leg | $203K | $422K | 10x | |
| GMX SUI/USD [ETH-USDC] | L +0.0602% / S −0.0263% | 1h | 1.0218 | −0.142% | $938K | — | 100x | as long as short |
| Aftermath Perps SUIUSD | +0.1406% | 1h | 1.0207 | −0.248% | $83K | $408K | 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-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
Phemex SUIUSDT
Extended SUI-USD
Aevo SUI-PERP
01 Exchange SUIUSD
Kraken Futures PF_SUIUSD
BloFin SUI-USDT
Coinbase International SUI-PERP-INTX
Hyperliquid SUI
GMX SUI/USD [ETH-USDC]
Aftermath Perps SUIUSD