Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.082%

Price spread now: tradeXYZ against Aster+0.007%7-day average — · you sell dearer than you buy

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

Long on Aster Short on tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IRENUSDT	47.256	0	get 0.0000% / 8h	3h 17m	$29K	$4K	20x
Short	tradeXYZ xyz:IREN	47.259	0.0152	get 0.0019% / 1h	17m 09s	$3.2M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.007%Rate

Funding earned: $31.85
Price spread: +0.007% → 0.000%: $0.72
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $6.57
Costs to cover: 0.260%
Break-even: 5.6 days

Slippage unknown: Aster: no order-book sample; tradeXYZ: live order book, 11 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 tradeXYZ live order book, 11 min ago	2.53 bp	13.6 bp −$14	doesn't fit	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	47.256	long leg	$29K	$4K	20x
Binance IRENUSDT	0.0000%	8h	47.290	+0.072%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.260	+0.009%	$1.2M	$540K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.250	−0.012%	$650K	$650K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.270	+0.030%	$717K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.264	+0.018%	$2.1M	$497K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.292	+0.076%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.281	+0.053%	$4K	$203K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.280	+0.052%	$1K	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.180	−0.160%	$9K	$825	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	47.260	+0.009%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0012%	1h	47.160	−0.202%	—	$15K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.200	−0.118%	$4K	$7K	5x	as long as short
Lighter RH IREN	+0.0064%	1h	47.287	+0.066%	$69K	$97K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.240	−0.033%	$742K	$229K	20x	as long as short
Paragon para:IREN	+0.0101%	1h	47.208	−0.100%	$607K	$182K	10x	as long as short
tradeXYZ xyz:IRENshort	+0.0152%	1h	47.259	+0.007%	$3.2M	$2.0M	10x
Phoenix IREN	+0.0286%	1h	47.278	+0.047%	$84	$31K	10x	as long as short