Funding arb · Price arb /

IRYS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.019%

Price spread now: Extended against MEXC+0.026%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

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

Together, before fees—+ Points / potential airdropExtended: 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: Extended is 0.026% dearer against MEXC than usual: you sell high and buy low, +$3 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	MEXC IRYS_USDT	0.01611	0.0128	pay 0.0064% / 4h	25m 44s	$247K	$98K	20x
Short	Extended IRYS-USD	0.01611	0.0128	get 0.0016% / 1h	25m 44s	$3K	$83K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against MEXC. 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 MEXCbpFee ExtendedbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → 0.000%: $2.59
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$6.41
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 14 min ago; Extended: 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 MEXC live order book, 14 min ago	3.08 bp	18.1 bp −$18	137.6 bp −$1,376	583.2 bp −$58.3K	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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
Bybit IRYSUSDT	+0.0100%	4h	0.01605	−0.348%	$817K	$207K	20x	as long as short
OKX IRYS-USDT-SWAP	+0.0100%	4h	0.01608	−0.186%	$621K	$130K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01608	−0.186%	$243K	$11K	20x	as long as short
Bitget IRYSUSDT	+0.0100%	4h	0.01613	+0.124%	$931K	$104K	20x	as long as short
Variational Omni IRYS	+0.0100%	4h	0.01603	−0.499%	$8K	$6	—	as long as short
BingX IRYS-USDT	+0.0122%	4h	0.01610	−0.062%	—	$1.3M	—	as long as short
Extended IRYS-USDshort	+0.0128%	1h	0.01611	+0.026%	$3K	$83K	5x
MEXC IRYS_USDTlong	+0.0128%	4h	0.01611	long leg	$247K	$98K	20x
KuCoin IRYSUSDTM	+0.0134%	4h	0.01606	−0.298%	$716K	$6.4M	20x	as long as short
Binance IRYSUSDT	+0.0156%	4h	0.01612	+0.052%	$1.8M	$863K	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	+0.0178%	4h	0.01609	−0.124%	$99K	$19K	20x	as long as short
Aster IRYSUSDT	+0.0819%	4h	0.01605	−0.388%	$1K	$2K	5x	as long as short