Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h −0.021%

Price spread now: BloFin against Kraken Futures−0.150%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$910.908% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.150%, 7d avg −0.067%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.084% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.150% now, against its 7-day average of −0.067%). If the spread goes back, that is −$8 on $10k: about 18 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.013% in total) that is about 45 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSHIUSD	0.2580	0.0088	pay 0.0011% / 1h	24m 23s	$775K	$67K	20x
Short	BloFin SUSHI-USDT	0.2576	0.0104	get 0.0104% / 8h	7h 24m	$216K	$64K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now −0.150%Rate

Funding earned: $3.2
Price spread: −0.150% → −0.067%: −$8.38
Slippage, 4 orders: −$68.82
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$95.99
Costs to cover: 0.908%
Break-even: 216.7 days

Slippage from Kraken Futures: live order book, 49 min ago; BloFin: live order book, 41 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 Kraken Futures live order book, 49 min ago	9.82 bp	34.1 bp −$34	2555.9 bp −$25.6K	doesn't fit	doesn't fit
Sell BloFin live order book, 41 min ago	3.91 bp	20.4 bp −$20	46.4 bp −$464	153.7 bp −$15.4K	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
Bitget SUSHIUSDT	+0.0031%	8h	0.2578	−0.073%	$1.0M	$682K	50x	as long as short
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	−1.352%	$16	$18K	5.5x	as long as short
Variational Omni SUSHI	+0.0079%	8h	0.2574	−0.244%	$41K	$14K	—	as long as short
Kraken Futures PF_SUSHIUSDlong	+0.0088%	1h	0.2580	long leg	$775K	$67K	20x
Hyperliquid SUSHI	+0.0100%	1h	0.2581	+0.032%	$363K	$389K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2578	−0.059%	$23K	$17K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2578	−0.070%	$4.0M	$9.0M	75x	as long as short
Bybit SUSHIUSDT	+0.0100%	8h	0.2577	−0.112%	$2.7M	$2.5M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2581	+0.043%	$1.7M	$3.1M	50x	as long as short
Gate SUSHI_USDT	+0.0100%	8h	0.2580	+0.005%	$571K	$292K	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	0.2578	−0.073%	$1.3M	$297K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2579	−0.034%	$1.2M	$231K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2579	−0.034%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2579	−0.034%	$90K	$48K	75x	as long as short
BloFin SUSHI-USDTshort	+0.0104%	8h	0.2576	−0.150%	$216K	$64K	75x