Funding arb · Price arb /

IREN

RWAall IREN markets

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 0.000%

Price spread now: SunX against Bitget−0.063%50s7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1851.853% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.063%, 7d avg +0.083%

Together, before fees+0.021%+$2 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: SunX is 0.146% cheaper against Bitget than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.083%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.380	0	get 0.0000% / 8h	6h 22m	$2.0M	$436K	20x
Short	SunX IREN-USDT	47.350	0	get 0.0000% / 8h	6h 22m	$942	$360K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $0
Price spread: −0.063% → +0.083%: −$14.63
Slippage, 4 orders: −$165.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$199.96
Costs to cover: 1.853%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; SunX: live order book, 18 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	3.06 bp	19.3 bp −$19	58.1 bp −$581	doesn't fit	doesn't fit
Sell SunX live order book, 18 min ago	48.62 bp	71.6 bp −$72	doesn't fit	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	47.493	+0.239%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.370	−0.021%	$1.2M	$524K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.410	+0.063%	$648K	$634K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.390	+0.021%	$725K	$1.2M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.380	long leg	$2.0M	$436K	20x
Variational Omni IREN	0.0000%	8h	47.412	+0.068%	$209K	$84K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.390	+0.021%	$4K	$180K	10x	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.350	−0.063%	$942	$360K	10x
HTX IREN-USDT	0.0000%	8h	47.360	−0.042%	$9K	$758	20x	as long as short
Vest IREN-USD-PERP	+0.0003%	1h	47.290	−0.190%	—	$15K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IRENUSDT	+0.0010%	8h	47.389	+0.019%	$3.4M	$6.2M	25x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.380	0.000%	$1.2M	$1.8M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.408	+0.059%	$68K	$99K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.330	−0.106%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.360	−0.042%	$745K	$184K	20x	as long as short
tradeXYZ xyz:IREN	+0.0262%	1h	47.382	+0.004%	$3.2M	$1.9M	10x	as long as short
Paragon para:IREN	+0.0352%	1h	47.360	−0.042%	$599K	$172K	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.393	+0.027%	$86	$31K	10x	as long as short