Funding arb · Price arb /

IRYS

all IRYS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h +0.003%

Price spread now: Extended against Variational Omni+0.288%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 Extended

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 · Extended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Extended is 0.288% dearer against Variational Omni than usual: you sell high and buy low (spread +0.288% now, against zero (this spread has no 7-day history yet)): +$29 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IRYS	0.01596	0.0242	pay 0.0121% / 4h	29m 46s	$8K	$1	—
Short	Extended IRYS-USD	0.01600	0.0104	get 0.0013% / 1h	29m 46s	$753	$110K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.288%Rate

Funding earned: −$28.91
Price spread: +0.288% → 0.000%: $28.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$5.13
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Extended: live order book, 46 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 Extended live order book, 46 min ago	9.06 bp	181.0 bp −$181	doesn't fit	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
Binance IRYSUSDT	+0.0100%	4h	0.01601	+0.310%	$1.8M	$813K	20x	as long as short
OKX IRYS-USDT-SWAP	+0.0100%	4h	0.01602	+0.400%	$613K	$103K	10x	as long as short
Gate IRYS_USDT	+0.0100%	4h	0.01599	+0.212%	$240K	$8K	20x	as long as short
MEXC IRYS_USDT	+0.0100%	4h	0.01600	+0.275%	$250K	$118K	20x	as long as short
Bitget IRYSUSDT	+0.0100%	4h	0.01600	+0.275%	$913K	$83K	20x	as long as short
Extended IRYS-USDshort	+0.0104%	1h	0.01600	+0.288%	$753	$110K	5x
BloFin IRYS-USDT	+0.0151%	4h	0.01601	+0.337%	$97K	$19K	20x	as long as short
Variational Omni IRYSlong	+0.0242%	4h	0.01596	long leg	$8K	$1	—
KuCoin IRYSUSDTM	+0.0346%	4h	0.01601	+0.312%	$669K	$6.6M	20x	as long as short
Aster IRYSUSDT	+0.0349%	4h	0.01599	+0.231%	$1K	$5K	5x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX IRYS-USDT	+0.1120%	4h	0.01599	+0.212%	—	$1.2M	—	as long as short
Bybit IRYSUSDT	+0.1224%	4h	0.01595	−0.039%	$788K	$154K	20x	as long as short