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 0.000%

Price spread now: Aster against Bybit+0.106%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 0.106% dearer against Bybit than usual: you sell high and buy low, +$11 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	Bybit IRENUSDT	46.550	0	get 0.0000% / 8h	7h 54m	$1.2M	$560K	25x
Short	Aster IRENUSDT	46.599	0	get 0.0000% / 8h	7h 54m	$24K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Bybit. 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 BybitbpFee AsterbpOrdersPrice spread, now +0.106%Rate

Funding earned: $0
Price spread: +0.106% → 0.000%: $10.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Aster: 4 bp × 2 orders: −$8
Net: −$8.43
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bybit: 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 Bybit live order book, 1 min ago	2.15 bp	31.3 bp −$31	121.3 bp −$1,213	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 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
Paragon para:IREN	−0.1666%	1h	46.562	+0.026%	$599K	$177K	10x	as long as short
Bitget IRENUSDT	−0.0173%	8h	46.566	+0.034%	$2.1M	$552K	20x	as long as short
Vest IREN-USD-PERP	−0.0005%	1h	46.530	−0.043%	—	$15K	10x	as long as short
Aster IRENUSDTshort	0.0000%	8h	46.599	+0.106%	$24K	$9K	20x
Binance IRENUSDT	0.0000%	8h	46.553	+0.007%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDTlong	0.0000%	8h	46.550	long leg	$1.2M	$560K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	46.550	0.000%	$624K	$654K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.590	+0.086%	$816K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.752	+0.435%	$191K	$92K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.580	+0.064%	$1K	$329K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.720	+0.365%	$9K	$877	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.640	+0.193%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.580	+0.064%	$1.2M	$1.5M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.590	+0.086%	$733K	$286K	20x	as long as short
Lighter RH IREN	+0.0152%	1h	46.606	+0.120%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IREN	+0.0169%	1h	46.572	+0.047%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.834	+0.610%	$84	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0437%	8h	46.840	+0.623%	$5K	$222K	10x	as long as short