Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against Aster−0.110%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 Extended

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 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.110% cheaper against Aster than usual: you would sell low and buy high (spread −0.110% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IRENUSDT	46.736	0	get 0.0000% / 8h	7h 55m	$24K	$9K	20x
Short	Extended IREN_24_5-USD	46.685	0.0040	get 0.0005% / 1h	55m 39s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.110%Rate

Funding earned: $8.4
Price spread: −0.110% → 0.000%: −$10.98
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$15.58
Costs to cover: 0.130%
Break-even: 20.0 days

Slippage unknown: Aster: no order-book sample; Extended: 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 Aster no order-book sample	—	—	—	—	—
Sell Extended no order-book sample	—	—	—	—	—

Aster and Extended: 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
Paragon para:IREN	−0.1666%	1h	46.562	−0.373%	$599K	$177K	10x	as long as short
Bitget IRENUSDT	−0.0173%	8h	46.566	−0.364%	$2.1M	$551K	20x	as long as short
Vest IREN-USD-PERP	−0.0004%	1h	46.710	−0.056%	—	$15K	10x	as long as short
Aster IRENUSDTlong	0.0000%	8h	46.736	long leg	$24K	$9K	20x
Binance IRENUSDT	0.0000%	8h	46.620	−0.249%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.600	−0.292%	$1.2M	$559K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.600	−0.292%	$625K	$655K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.580	−0.334%	$815K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.752	+0.034%	$191K	$92K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.810	+0.158%	$1K	$328K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.720	−0.035%	$9K	$877	20x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	46.685	−0.110%	$4K	$7K	5x
QFEX IREN-USD	+0.0068%	1h	46.580	−0.334%	$1.2M	$1.5M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.660	−0.163%	$734K	$286K	20x	as long as short
Lighter RH IREN	+0.0152%	1h	46.633	−0.221%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IREN	+0.0243%	1h	46.594	−0.304%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.715	−0.046%	$83	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0437%	8h	46.840	+0.222%	$5K	$222K	10x	as long as short