Funding arb · Price arb /

IREN

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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 0.000%

Price spread now: Bybit against Aster−0.095%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 Bybit

What this pair did over the last

the charts below follow

Funding, last 6 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: Bybit is 0.095% cheaper against Aster than usual: you would sell low and buy high, −$10 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	47.615	0	get 0.0000% / 8h	3h 58m	$29K	$4K	20x
Short	Bybit IRENUSDT	47.570	0	get 0.0000% / 8h	3h 58m	$1.2M	$542K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.095%Rate

Funding earned: $0
Price spread: −0.095% → 0.000%: −$9.51
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$28.51
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	2.10 bp	25.2 bp −$25	113.0 bp −$1,130	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	47.615	long leg	$29K	$4K	20x
Binance IRENUSDT	0.0000%	8h	47.600	−0.032%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDTshort	0.0000%	8h	47.570	−0.095%	$1.2M	$542K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.630	+0.031%	$649K	$620K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.590	−0.053%	$724K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.574	−0.087%	$2.0M	$434K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.607	−0.018%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.606	−0.019%	$5K	$195K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.610	−0.011%	$922	$357K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.550	−0.137%	$9K	$812	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.590	−0.053%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0019%	1h	47.520	−0.200%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.618	+0.006%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.555	−0.127%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.590	−0.053%	$748K	$221K	20x	as long as short
tradeXYZ xyz:IREN	+0.0103%	1h	47.573	−0.089%	$3.2M	$2.0M	10x	as long as short
Paragon para:IREN	+0.0175%	1h	47.540	−0.158%	$611K	$182K	10x	as long as short
Phoenix IREN	+0.0421%	1h	47.619	+0.008%	$93	$31K	10x	as long as short