Funding arb · Price arb /

IRYS

all IRYS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.033%

Price spread now: Bitget against Variational Omni+0.150%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 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: Bitget is 0.150% dearer against Variational Omni than usual: you sell high and buy low, +$15 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	Variational Omni IRYS	0.01634	0.0100	pay 0.0050% / 4h	1h 19m	$8K	$6	—
Short	Bitget IRYSUSDT	0.01636	0.0100	get 0.0050% / 4h	1h 19m	$940K	$94K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Variational Omni. 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 Variational OmnibpFee BitgetbpOrdersPrice spread, now +0.150%Rate

Funding earned: $0
Price spread: +0.150% → 0.000%: $15.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: $3.01
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Bitget: live order book, 42 min ago. 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Bitget live order book, 42 min ago	6.18 bp	57.2 bp −$57	569.2 bp −$5,692	doesn't fit	doesn't fit

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
Bybit IRYSUSDT	+0.0100%	4h	0.01632	−0.070%	$808K	$140K	20x	as long as short
OKX IRYS-USDT-SWAP	+0.0100%	4h	0.01632	−0.095%	$625K	$94K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01633	−0.034%	$245K	$8K	20x	as long as short
Bitget IRYSUSDTshort	+0.0100%	4h	0.01636	+0.150%	$940K	$94K	20x
Variational Omni IRYSlong	+0.0100%	4h	0.01634	long leg	$8K	$6	—
BloFin IRYS-USDT	+0.0391%	4h	0.01637	+0.211%	$99K	$19K	20x	as long as short
Binance IRYSUSDT	+0.0398%	4h	0.01634	+0.028%	$1.8M	$730K	20x	as long as short
MEXC IRYS_USDT	+0.0398%	4h	0.01635	+0.089%	$253K	$110K	20x	as long as short
Extended IRYS-USD	+0.0400%	1h	0.01634	−0.001%	$5K	$86K	5x	as long as short
BingX IRYS-USDT	+0.0402%	4h	0.01634	+0.028%	—	$1.2M	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IRYSUSDTM	+0.0562%	4h	0.01632	−0.076%	$699K	$6.4M	20x	as long as short
Aster IRYSUSDT	+0.1018%	4h	0.01629	−0.285%	$1K	$2K	5x	as long as short