Officers were called to Yapton Road around 10pm on Wednesday, November 3, to reports of a man being stabbed in the leg.
The victim was taken to the Royal Sussex County Hospital for treatment to a serious injury.
Detectives later arrested a 26-year-old man on suspicion of wounding with intent.
In an update today (Monday, November 15), Sussex Police said the man has been released on police bail until Thursday, December 2.
"Enquiries are ongoing," a spokesperson added.
Anyone who saw what happened or who has any other information is asked to call 101 or report it online, quoting serial 1337 of 03/11.