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 +0.018%

Price spread now: Variational Omni against OKX+0.031%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 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 0.031% dearer against OKX 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	OKX IRYS-USDT-SWAP	0.01596	0.0100	pay 0.0050% / 4h	2h 37m	$617K	$123K	10x
Short	Variational Omni IRYS	0.01597	0.0100	get 0.0050% / 4h	2h 37m	$8K	$6	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → 0.000%: $3.15
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.85
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 8 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 OKX live order book, 8 min ago	3.12 bp	58.5 bp −$58	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
BloFin IRYS-USDT	+0.0063%	4h	0.01599	+0.188%	$98K	$19K	20x	as long as short
Binance IRYSUSDT	+0.0100%	4h	0.01599	+0.161%	$1.8M	$895K	20x	as long as short
Bybit IRYSUSDT	+0.0100%	4h	0.01593	−0.201%	$815K	$212K	20x	as long as short
OKX IRYS-USDT-SWAPlong	+0.0100%	4h	0.01596	long leg	$617K	$123K	10x
Gate IRYS_USDT	+0.0100%	4h	0.01596	0.000%	$241K	$12K	20x	as long as short
MEXC IRYS_USDT	+0.0100%	4h	0.01598	+0.125%	$245K	$88K	20x	as long as short
KuCoin IRYSUSDTM	+0.0100%	4h	0.01597	+0.075%	$694K	$6.2M	20x	as long as short
Bitget IRYSUSDT	+0.0100%	4h	0.01597	+0.063%	$916K	$109K	20x	as long as short
BingX IRYS-USDT	+0.0100%	4h	0.01595	−0.063%	—	$1.3M	—	as long as short
Variational Omni IRYSshort	+0.0100%	4h	0.01597	+0.031%	$8K	$6	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IRYS-USD	+0.0104%	1h	0.01598	+0.127%	$3K	$177K	5x	as long as short
Aster IRYSUSDT	+0.0771%	4h	0.01596	−0.013%	$1K	$2K	5x	as long as short