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 +0.002%

Price spread now: GRVT against Bitget+0.086%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1461.463% of the position

Long on Bitget Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now +0.086%, 7d avg +0.108%

Together, before fees+0.160%+ Points / potential airdropGRVT: Active · farm board+$16 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: GRVT is 0.022% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.459	0	get 0.0000% / 8h	4h 45m	$2.0M	$416K	20x
Short	GRVT IREN_USDT_Perp	47.500	0	get 0.0000% / 8h	4h 45m	$4K	$187K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.108%: −$2.19
Slippage, 4 orders: −$125.32
Fee Bitget: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$148.52
Costs to cover: 1.463%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; GRVT: live order book, 7 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, 1 min ago	2.11 bp	32.3 bp −$32	77.8 bp −$778	doesn't fit	doesn't fit
Sell GRVT live order book, 7 min ago	4.21 bp	50.8 bp −$51	79.0 bp −$790	doesn't fit	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	47.498	+0.081%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.491	+0.068%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.450	−0.019%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.480	+0.044%	$645K	$621K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.480	+0.044%	$723K	$1.2M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.459	long leg	$2.0M	$416K	20x
Variational Omni IREN	0.0000%	8h	47.487	+0.058%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perpshort	0.0000%	8h	47.500	+0.086%	$4K	$187K	10x
SunX IREN-USDT	0.0000%	8h	47.500	+0.086%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.530	+0.150%	$9K	$795	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	+0.0012%	1h	47.440	−0.040%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.517	+0.122%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.470	+0.023%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.480	+0.044%	$1.2M	$1.7M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.470	+0.023%	$610K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0094%	1h	47.496	+0.078%	$3.2M	$1.9M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.480	+0.044%	$746K	$214K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.534	+0.158%	$92	$31K	10x	as long as short