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 +0.101%

Price spread now: Gate against Bitget+0.032%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$820.815% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days+0.063%+$6 · spread now +0.032%, 7d avg +0.084%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.052% cheaper against Bitget than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.325	0	get 0.0000% / 8h	2h 32m	$2.0M	$537K	20x
Short	Gate IREN_USDT	47.340	0	get 0.0000% / 8h	2h 32m	$741K	$1.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.032%Rate

Funding earned: $0
Price spread: +0.032% → +0.084%: −$5.24
Slippage, 4 orders: −$54.51
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$86.75
Costs to cover: 0.815%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Gate: live order book, 5 min ago.

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, 5 min ago	4.97 bp	23.9 bp −$24	46.4 bp −$464	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.17 bp	19.7 bp −$20	75.6 bp −$756	122.0 bp −$12.2K	doesn't fit

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 IRENUSDT	0.0000%	8h	47.376	+0.108%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.335	+0.022%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.330	+0.011%	$1.2M	$503K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.480	+0.328%	$663K	$693K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.340	+0.032%	$741K	$1.6M	25x
Bitget IRENUSDTlong	0.0000%	8h	47.325	long leg	$2.0M	$537K	20x
Variational Omni IREN	0.0000%	8h	47.343	+0.039%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.350	+0.053%	$4K	$205K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.320	−0.011%	$1K	$389K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.290	−0.074%	$9K	$672	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0003%	1h	47.270	−0.116%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0018%	1h	47.330	+0.011%	$1.2M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.372	+0.099%	$67K	$114K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.315	−0.021%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0059%	1h	47.325	0.000%	$622K	$126K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.340	+0.032%	$751K	$144K	20x	as long as short
tradeXYZ xyz:IREN	+0.0306%	1h	47.348	+0.049%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0320%	1h	47.356	+0.066%	$86	$38K	10x	as long as short