Funding arb · Price arb /

SUSHI

all SUSHI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.029%

Price spread now: Gate against Kraken Futures+0.089%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1111.111% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.470%−$47 · spread now +0.089%, 7d avg −0.016%

Together, before fees−0.511%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.105% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.089% now, against its 7-day average of −0.016%): +$11 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.5 days. At the pace of the last 7 days (−0.041% in total) that is about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_SUSHIUSD	0.2513	0.0154	pay 0.0019% / 1h	49m 08s	$756K	$66K	20x
Short	Gate SUSHI_USDT	0.2515	0.0100	get 0.0100% / 8h	5h 49m	$569K	$265K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now +0.089%Rate

Funding earned: −$11.36
Price spread: +0.089% → −0.016%: $10.52
Slippage, 4 orders: −$86.12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$111.96
Costs to cover: 1.111%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; Gate: live order book, 60 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, 62 min ago	11.89 bp	29.0 bp −$29	3177.3 bp −$31.8K	doesn't fit	doesn't fit
Sell Gate live order book, 60 min ago	7.94 bp	21.3 bp −$21	84.0 bp −$840	doesn't fit	doesn't fit

SUSHI on 15 exchanges

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
Variational Omni SUSHI	−0.0082%	8h	0.2510	−0.096%	$40K	$6K	—	as long as short
Bybit SUSHIUSDT	0.0000%	8h	0.2509	−0.150%	$2.5M	$3.0M	75x	as long as short
Injective SUSHI/USDC PERP	+0.0033%	1h	0.2545	+1.283%	$16	$18K	5.5x	as long as short
Hyperliquid SUSHI	+0.0100%	1h	0.2513	+0.017%	$331K	$313K	3x	as long as short
Aster SUSHIUSDT	+0.0100%	8h	0.2512	−0.030%	$22K	$14K	5x	as long as short
Binance SUSHIUSDT	+0.0100%	8h	0.2510	−0.101%	$3.9M	$8.9M	75x	as long as short
OKX SUSHI-USDT-SWAP	+0.0100%	8h	0.2511	−0.070%	$1.5M	$3.6M	50x	as long as short
Gate SUSHI_USDTshort	+0.0100%	8h	0.2515	+0.089%	$569K	$265K	50x
MEXC SUSHI_USDT	+0.0100%	8h	0.2511	−0.070%	$1.2M	$248K	75x	as long as short
KuCoin SUSHIUSDTM	+0.0100%	8h	0.2509	−0.150%	$1.1M	$239K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget SUSHIUSDT	+0.0100%	8h	0.2515	+0.089%	$974K	$678K	50x	as long as short
BingX SUSHI-USDT	+0.0100%	8h	0.2510	−0.110%	—	$2.5M	—	as long as short
HTX SUSHI-USDT	+0.0100%	8h	0.2514	+0.049%	$83K	$79K	75x	as long as short
BloFin SUSHI-USDT	+0.0119%	8h	0.2513	+0.009%	$205K	$64K	75x	as long as short
Kraken Futures PF_SUSHIUSDlong	+0.0154%	1h	0.2513	long leg	$756K	$66K	20x