IRYS

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0352%/8h= −38.5% APRnext payment −$1.76 per $10,000 · paid last 24h +0.125%

Price spread now: BingX against KuCoin−0.131%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs−$288as in the Price arb table

costs, in and out, $10k−$2772.775% of the position

Long on KuCoin Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days−0.212%−$21 · spread now −0.131%, 7d avg −0.027%

Together, before fees−0.201%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and BingX is 0.104% cheaper against KuCoin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.76 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	KuCoin IRYSUSDTM	0.01609	0.0758	pay 0.0379% / 4h	3h 38m	$677K	$6.5M	20x
Short	BingX IRYS-USDT	0.01607	0.0406	get 0.0203% / 4h	3h 38m	—	$1.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against KuCoin. 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 KuCoinbpFee BingXbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$73.92
Price spread: −0.131% → −0.027%: −$10.36
Slippage, 4 orders: −$255.45
Fee KuCoin: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$361.73
Costs to cover: 2.775%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 min ago; BingX: live order book, 2 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 KuCoin live order book, 9 min ago	7.46 bp	109.5 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	9.31 bp	61.9 bp −$62	171.9 bp −$1,719	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	0.01607	−0.131%	$615K	$99K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01610	+0.056%	$242K	$8K	20x	as long as short
Bitget IRYSUSDT	+0.0100%	4h	0.01607	−0.131%	$919K	$83K	20x	as long as short
BingX IRYS-USDTshort	+0.0406%	4h	0.01607	−0.131%	—	$1.2M	—
BloFin IRYS-USDT	+0.0445%	4h	0.01613	+0.242%	$97K	$19K	20x	as long as short
Binance IRYSUSDT	+0.0461%	4h	0.01611	+0.090%	$1.8M	$786K	20x	as long as short
MEXC IRYS_USDT	+0.0462%	4h	0.01609	−0.006%	$252K	$118K	20x	as long as short
Extended IRYS-USD	+0.0464%	1h	0.01610	+0.032%	$4K	$113K	5x	as long as short
Variational Omni IRYS	+0.0480%	4h	0.01608	−0.053%	$8K	$6	—	as long as short
Bybit IRYSUSDT	+0.0632%	4h	0.01605	−0.236%	$792K	$154K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IRYSUSDTMlong	+0.0758%	4h	0.01609	long leg	$677K	$6.5M	20x
Aster IRYSUSDT	+0.0873%	4h	0.01608	−0.047%	$1K	$5K	5x	as long as short