Funding arb · Price arb /

IRYS

all IRYS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0692%/8h= +75.8% APRpaid last 24h +0.029%

Price spread now: Extended against Gate+0.225%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1,273as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,257as in the Price arb table

costs, in and out, $10k−$1,28012.796% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)−0.315%−$32 · spread now +0.225%, 7d avg −0.005%

Together, before fees−0.249%+ Points / potential airdropExtended: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Extended is 0.230% dearer against Gate than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of −0.005%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.067% in total (about 3.5% a year). A funding rate is set anew for every payment. 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	Gate IRYS_USDT	0.01602	0.0100	pay 0.0050% / 4h	2h 54m	$240K	$8K	20x
Short	Extended IRYS-USD	0.01606	0.0792	get 0.0099% / 1h	54m 00s	$2K	$78K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now +0.225%Rate

Funding earned: $145.32
Price spread: +0.225% → −0.005%: $23.05
Slippage, 4 orders: −$1,259.63
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$1,111.26
Costs to cover: 12.796%
Break-even: 60.5 days

Slippage from Gate: live order book, 8 min ago; Extended: live order book, 76 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 Gate live order book, 8 min ago	9.30 bp	460.4 bp −$460	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 76 min ago	7.50 bp	175.8 bp −$176	doesn't fit	doesn't fit	doesn't fit

IRYS on 12 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
OKX IRYS-USDT-SWAP	+0.0100%	4h	0.01603	+0.062%	$613K	$99K	10x	as long as short
Gate IRYS_USDTlong	+0.0100%	4h	0.01602	long leg	$240K	$8K	20x
Bitget IRYSUSDT	+0.0100%	4h	0.01609	+0.437%	$922K	$90K	20x	as long as short
Bybit IRYSUSDT	+0.0332%	4h	0.01603	+0.037%	$792K	$161K	20x	as long as short
Variational Omni IRYS	+0.0429%	4h	0.01601	−0.044%	$8K	$6	—	as long as short
Extended IRYS-USDshort	+0.0792%	1h	0.01606	+0.225%	$2K	$78K	5x
Binance IRYSUSDT	+0.0794%	4h	0.01606	+0.248%	$1.8M	$793K	20x	as long as short
BingX IRYS-USDT	+0.0796%	4h	0.01604	+0.125%	—	$1.2M	—	as long as short
MEXC IRYS_USDT	+0.0804%	4h	0.01606	+0.250%	$251K	$116K	20x	as long as short
BloFin IRYS-USDT	+0.0821%	4h	0.01603	+0.062%	$97K	$19K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster IRYSUSDT	+0.1249%	4h	0.01604	+0.145%	$1K	$2K	5x	as long as short
KuCoin IRYSUSDTM	+0.1366%	4h	0.01604	+0.112%	$689K	$6.5M	20x	as long as short