Funding arb · Price arb /

IRYS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.059%

Price spread now: Variational Omni against KuCoin−0.178%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.178% cheaper against KuCoin than usual: you would sell low and buy high, −$18 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRYSUSDTM	0.01595	0.0100	pay 0.0050% / 4h	1h 07m	$703K	$6.2M	20x
Short	Variational Omni IRYS	0.01592	0.0100	get 0.0050% / 4h	1h 07m	$8K	$6	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.178%Rate

Funding earned: $0
Price spread: −0.178% → 0.000%: −$17.84
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.84
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 1 min ago; Variational Omni: no order-book sample. Net counts fees only.

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, 1 min ago	10.35 bp	108.1 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.01596	+0.094%	$620K	$127K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01591	−0.220%	$239K	$15K	20x	as long as short
KuCoin IRYSUSDTMlong	+0.0100%	4h	0.01595	long leg	$703K	$6.2M	20x
Bitget IRYSUSDT	+0.0100%	4h	0.01597	+0.157%	$917K	$111K	20x	as long as short
Variational Omni IRYSshort	+0.0100%	4h	0.01592	−0.178%	$8K	$6	—
Bybit IRYSUSDT	+0.0131%	4h	0.01592	−0.157%	$822K	$217K	20x	as long as short
BingX IRYS-USDT	+0.0282%	4h	0.01594	−0.031%	—	$1.3M	—	as long as short
MEXC IRYS_USDT	+0.0284%	4h	0.01596	+0.094%	$244K	$89K	20x	as long as short
Extended IRYS-USD	+0.0288%	1h	0.01596	+0.065%	$313	$188K	5x	as long as short
Binance IRYSUSDT	+0.0289%	4h	0.01596	+0.094%	$1.8M	$920K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin IRYS-USDT	+0.0291%	4h	0.01596	+0.094%	$97K	$20K	20x	as long as short
Aster IRYSUSDT	+0.0891%	4h	0.01594	−0.061%	$1K	$2K	5x	as long as short