Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bybit+0.119%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1011.008% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.072%−$7 · spread now +0.119%, 7d avg +0.094%

Together, before fees−0.057%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.024% dearer against Bybit than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit SUSHIUSDT	0.2530	0.0100	pay 0.0100% / 8h	1h 46m	$2.6M	$2.6M	75x
Short	OKX SUSHI-USDT-SWAP	0.2533	0.0100	get 0.0100% / 8h	1h 46m	$1.6M	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.119%Rate

Funding earned: $0
Price spread: +0.119% → +0.094%: $2.43
Slippage, 4 orders: −$79.79
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$98.36
Costs to cover: 1.008%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	5.93 bp	32.7 bp −$33	362.4 bp −$3,624	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.98 bp	16.6 bp −$17	45.0 bp −$450	doesn't fit	doesn't fit

SUSHI on 15 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 SUSHI/USDC PERP	+0.0033%	1h	0.2545	+0.593%	$16	$18K	5.5x	as long as short
Bitget SUSHIUSDT	+0.0040%	8h	0.2530	0.000%	$991K	$712K	50x	as long as short
BloFin SUSHI-USDT	+0.0085%	8h	0.2532	+0.079%	$211K	$65K	75x	as long as short
Kraken Futures PF_SUSHIUSD	+0.0097%	1h	0.2535	+0.195%	$761K	$77K	20x	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2532	+0.095%	$346K	$396K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2531	+0.032%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2531	+0.040%	$3.8M	$9.2M	75x	as long as short
Bybit SUSHIUSDTlong	+0.0100%	8h	0.2530	long leg	$2.6M	$2.6M	75x
OKX SUSHI-USDT-SWAPshort	+0.0100%	8h	0.2533	+0.119%	$1.6M	$3.1M	50x
Gate SUSHI_USDT	+0.0100%	8h	0.2531	+0.040%	$571K	$288K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SUSHI_USDT	+0.0100%	8h	0.2531	+0.040%	$1.3M	$351K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2533	+0.119%	$1.2M	$241K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2532	+0.079%	—	$2.5M	—	as long as short
Variational Omni SUSHI	+0.0100%	8h	0.2529	−0.048%	$41K	$14K	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2535	+0.198%	$85K	$59K	75x	as long as short