Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.048%

Price spread now: Bitget against Aster−0.066%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · 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 0.066% cheaper against Aster than usual: you would sell low and buy high, −$7 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	Aster IRENUSDT	47.497	0	get 0.0000% / 8h	3m 23s	$29K	$4K	20x
Short	Bitget IRENUSDT	47.466	0	get 0.0000% / 8h	3m 23s	$2.0M	$497K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Aster. 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 AsterbpFee BitgetbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → 0.000%: −$6.57
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.57
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Bitget: live order book, 4 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 Aster no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	3.37 bp	27.6 bp −$28	48.0 bp −$480	doesn't fit	doesn't fit

Aster: 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.

IREN on 18 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
Aster IRENUSDTlong	0.0000%	8h	47.497	long leg	$29K	$4K	20x
Bybit IRENUSDT	0.0000%	8h	47.470	−0.057%	$1.2M	$486K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.490	−0.015%	$663K	$665K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.500	+0.006%	$739K	$1.5M	25x	as long as short
Bitget IRENUSDTshort	0.0000%	8h	47.466	−0.066%	$2.0M	$497K	20x
Variational Omni IREN	0.0000%	8h	47.484	−0.029%	$208K	$86K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.500	+0.006%	$780	$385K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.460	−0.078%	$9K	$723	20x	as long as short
Vest IREN-USD-PERP	+0.0004%	1h	47.410	−0.184%	—	$15K	10x	as long as short
Binance IRENUSDT	+0.0006%	8h	47.510	+0.027%	$3.5M	$6.5M	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT IREN_USDT_Perp	+0.0019%	8h	47.484	−0.028%	$5K	$189K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.522	+0.052%	$68K	$111K	10x	as long as short
QFEX IREN-USD	+0.0032%	1h	47.460	−0.078%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.455	−0.088%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.455	−0.089%	$638K	$147K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.480	−0.036%	$746K	$154K	20x	as long as short
tradeXYZ xyz:IREN	+0.0264%	1h	47.481	−0.034%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0388%	1h	47.495	−0.005%	$86	$38K	10x	as long as short