diff --git a/protocol/x/subaccounts/keeper/subaccount.go b/protocol/x/subaccounts/keeper/subaccount.go
index a6fff13edd..9a43ac8cbe 100644
--- a/protocol/x/subaccounts/keeper/subaccount.go
+++ b/protocol/x/subaccounts/keeper/subaccount.go
@@ -277,7 +277,10 @@ func (k Keeper) UpdateSubaccounts(
 		// Emit an event indicating a funding payment was paid / received for each settled funding
 		// payment. Note that `fundingPaid` is positive if the subaccount paid funding,
 		// and negative if the subaccount received funding.
-		for perpetualId, fundingPaid := range fundingPayments {
+		// Note the perpetual IDs are sorted first to ensure event emission determinism.
+		sortedPerpIds := lib.GetSortedKeys[lib.Sortable[uint32]](fundingPayments)
+		for _, perpetualId := range sortedPerpIds {
+			fundingPaid := fundingPayments[perpetualId]
 			ctx.EventManager().EmitEvent(
 				types.NewCreateSettledFundingEvent(
 					*u.SettledSubaccount.Id,