Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.018%

Price spread now: Aster against Bitget−0.138%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Aster

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: Aster is 0.138% cheaper against Bitget than usual: you would sell low and buy high, −$14 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	Bitget IRENUSDT	47.310	0	get 0.0000% / 8h	5h 59m	$2.1M	$647K	20x
Short	Aster IRENUSDT	47.245	0	get 0.0000% / 8h	5h 59m	$24K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bitget. 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 BitgetbpFee AsterbpOrdersPrice spread, now −0.138%Rate

Funding earned: $0
Price spread: −0.138% → 0.000%: −$13.78
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$33.78
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 1 min ago; Aster: 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 Bitget live order book, 1 min ago	3.17 bp	23.1 bp −$23	38.1 bp −$381	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0277%	1h	47.325	+0.031%	$609K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0002%	1h	47.250	−0.127%	—	$15K	10x	as long as short
Aster IRENUSDTshort	0.0000%	8h	47.245	−0.138%	$24K	$9K	20x
Bybit IRENUSDT	0.0000%	8h	47.340	+0.063%	$1.2M	$565K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.330	+0.042%	$633K	$665K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	+0.021%	$814K	$1.4M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.310	long leg	$2.1M	$647K	20x
Variational Omni IREN	0.0000%	8h	47.269	−0.087%	$184K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.330	+0.042%	$1K	$312K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.190	−0.254%	$9K	$874	20x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USD	+0.0040%	1h	47.302	−0.017%	$4K	$4K	5x	as long as short
Lighter RH IREN	+0.0048%	1h	47.358	+0.101%	$71K	$96K	10x	as long as short
tradeXYZ xyz:IREN	+0.0050%	1h	47.324	+0.030%	$3.1M	$2.0M	10x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.310	0.000%	$1.2M	$1.5M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.300	−0.021%	$747K	$405K	20x	as long as short
Binance IRENUSDT	+0.0109%	8h	47.340	+0.063%	$3.5M	$6.5M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0306%	8h	47.262	−0.101%	$4K	$232K	10x	as long as short
Phoenix IREN	+0.0307%	1h	47.288	−0.047%	$88	$31K	10x	as long as short