Funding you earn now, next payment 04:00 UTC−0.0418%/8h= −45.7% APRnext payment −$2.09 per $10,000 · paid last 24h +0.184%
Price spread now: Bybit against MEXC−0.248%7-day average −0.169% · you buy dearer than you sell
Net, funding: paid 7d − costs−$184as in the Funding arb table
Net, price: spread back to 7d avg − costs−$233as in the Price arb table
costs, in and out, $10k−$2262.256% of the position
Funding, last 7 days+0.412%+$41 on $10k
+Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.248%, 7d avg −0.169%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.079% cheaper against MEXC than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.169%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.412%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC IRYS_USDT | 0.01612 | 0.0782 | pay 0.0391% / 4h | 2h 50m | $252K | $116K | 20x |
| Short | Bybit IRYSUSDT | 0.01608 | 0.0364 | get 0.0182% / 4h | 2h 50m | $795K | $162K | 20x |
MEXC IRYS_USDT
Bybit IRYSUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against MEXC. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$87.71
- Price spread: −0.248% → −0.169%
- −$7.89
- Slippage, 4 orders
- −$210.6
- Fee MEXC: 2 bp × 2 orders
- −$4
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$321.2
- Costs to cover
- 2.256%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 64 min ago; Bybit: live order book, 14 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 MEXC live order book, 64 min ago | 3.11 bp | 15.7 bp −$16 | 139.5 bp −$1,395 | 351.0 bp −$35.1K | doesn't fit |
| Sell Bybit live order book, 14 min ago | 3.70 bp | 112.8 bp −$113 | 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 | 0.01610 | −0.124% | $616K | $99K | 10x | as long as short |
| Gate IRYS_USDT | +0.0100% | 4h | 0.01607 | −0.310% | $241K | $8K | 20x | as long as short |
| Bitget IRYSUSDT | +0.0100% | 4h | 0.01609 | −0.186% | $922K | $90K | 20x | as long as short |
| Bybit IRYSUSDTshort | +0.0364% | 4h | 0.01608 | −0.248% | $795K | $162K | 20x | |
| Variational Omni IRYS | +0.0373% | 4h | 0.01606 | −0.372% | $8K | $6 | — | as long as short |
| BloFin IRYS-USDT | +0.0751% | 4h | 0.01614 | +0.124% | $99K | $19K | 20x | as long as short |
| Extended IRYS-USD | +0.0776% | 1h | 0.01611 | −0.039% | $2K | $82K | 5x | as long as short |
| Binance IRYSUSDT | +0.0779% | 4h | 0.01613 | +0.034% | $1.8M | $794K | 20x | as long as short |
| MEXC IRYS_USDTlong | +0.0782% | 4h | 0.01612 | long leg | $252K | $116K | 20x | |
| BingX IRYS-USDT | +0.0784% | 4h | 0.01609 | −0.186% | — | $1.2M | — | as long as short |
OKX IRYS-USDT-SWAP
Gate IRYS_USDT
Bitget IRYSUSDT
Variational Omni IRYS
BloFin IRYS-USDT
Extended IRYS-USD
Binance IRYSUSDT
BingX IRYS-USDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster IRYSUSDT | +0.1231% | 4h | 0.01606 | −0.365% | $1K | $2K | 5x | as long as short |
| KuCoin IRYSUSDTM | +0.1332% | 4h | 0.01608 | −0.230% | $694K | $6.5M | 20x | as long as short |
Aster IRYSUSDT
KuCoin IRYSUSDTM