Funding arb · Price arb /

IRYS

all IRYS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0268%/8h= +29.3% APRpaid last 24h +0.044%

Price spread now: Extended against OKX+0.096%7-day average — · you sell dearer than you buy

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

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Extended is 0.096% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.044% in total (about 2.3% 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	OKX IRYS-USDT-SWAP	0.01632	0.0100	pay 0.0050% / 4h	1h 14m	$625K	$92K	10x
Short	Extended IRYS-USD	0.01634	0.0368	get 0.0046% / 1h	14m 12s	$5K	$86K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now +0.096%Rate

Funding earned: $56.28
Price spread: +0.096% → 0.000%: $9.6
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $50.88
Costs to cover: 0.150%
Break-even: 0.7 days

Slippage unknown: OKX: live order book, 47 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 OKX live order book, 47 min ago	6.19 bp	64.8 bp −$65	doesn't fit	doesn't fit	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	0.01632	−0.012%	$807K	$139K	20x	as long as short
OKX IRYS-USDT-SWAPlong	+0.0100%	4h	0.01632	long leg	$625K	$92K	10x
Gate IRYS_USDT	+0.0100%	4h	0.01632	0.000%	$245K	$8K	20x	as long as short
Bitget IRYSUSDT	+0.0100%	4h	0.01636	+0.245%	$940K	$94K	20x	as long as short
Variational Omni IRYS	+0.0100%	4h	0.01632	+0.026%	$8K	$6	—	as long as short
MEXC IRYS_USDT	+0.0366%	4h	0.01634	+0.123%	$253K	$110K	20x	as long as short
Binance IRYSUSDT	+0.0367%	4h	0.01634	+0.123%	$1.8M	$723K	20x	as long as short
Extended IRYS-USDshort	+0.0368%	1h	0.01634	+0.096%	$5K	$86K	5x
BingX IRYS-USDT	+0.0398%	4h	0.01634	+0.123%	—	$1.2M	—	as long as short
BloFin IRYS-USDT	+0.0412%	4h	0.01637	+0.306%	$100K	$19K	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IRYSUSDTM	+0.0508%	4h	0.01631	−0.055%	$707K	$6.4M	20x	as long as short
Aster IRYSUSDT	+0.0996%	4h	0.01631	−0.080%	$1K	$2K	5x	as long as short