IRYS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0537%/8h= +58.8% APRnext payment +$2.68 per $10,000 · paid last 24h +0.027%

Price spread now: Binance against Bitget+0.037%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$2352.354% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.037%, 7d avg +0.063%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.026% cheaper against Bitget than usual: you would sell low and buy high (spread +0.037% now, against its 7-day average of +0.063%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.051% in total) that is about 3.6 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.68 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRYSUSDT	0.01622	0.0100	pay 0.0050% / 4h	2h 08m	$933K	$93K	20x
Short	Binance IRYSUSDT	0.01623	0.0637	get 0.0318% / 4h	2h 08m	$1.8M	$783K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.037%Rate

Funding earned: $112.74
Price spread: +0.037% → +0.063%: −$2.64
Slippage, 4 orders: −$213.38
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$125.28
Costs to cover: 2.354%
Break-even: 14.8 days

Slippage from Bitget: live order book, 57 min ago; Binance: live order book, 10 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 Bitget live order book, 57 min ago	3.09 bp	59.0 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	3.07 bp	63.2 bp −$63	448.7 bp −$4,487	doesn't fit	doesn't fit

IRYS on 11 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
Bybit IRYSUSDT	+0.0100%	4h	0.01618	−0.228%	$801K	$156K	20x	as long as short
OKX IRYS-USDT-SWAP	+0.0100%	4h	0.01619	−0.185%	$620K	$100K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01619	−0.185%	$243K	$8K	20x	as long as short
Bitget IRYSUSDTlong	+0.0100%	4h	0.01622	long leg	$933K	$93K	20x
Variational Omni IRYS	+0.0100%	4h	0.01622	−0.027%	$8K	$6	—	as long as short
BingX IRYS-USDT	+0.0624%	4h	0.01620	−0.123%	—	$1.2M	—	as long as short
MEXC IRYS_USDT	+0.0636%	4h	0.01622	0.000%	$252K	$118K	20x	as long as short
Binance IRYSUSDTshort	+0.0637%	4h	0.01623	+0.037%	$1.8M	$783K	20x
Extended IRYS-USD	+0.0640%	1h	0.01622	+0.001%	$3K	$83K	5x	as long as short
KuCoin IRYSUSDTM	+0.1088%	4h	0.01620	−0.148%	$686K	$6.4M	20x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster IRYSUSDT	+0.1193%	4h	0.01624	+0.101%	$1K	$2K	5x	as long as short