Funding arb · Price arb /

IREN

RWAall IREN markets

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 −0.133%

Price spread now: Bitget against Bybit−0.011%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1161.165% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days−0.101%−$10 · spread now −0.011%, 7d avg −0.073%

Together, before fees−0.163%−$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: Bitget is 0.063% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IRENUSDT	47.400	0	get 0.0000% / 8h	1h 30m	$1.2M	$498K	25x
Short	Bitget IRENUSDT	47.395	0	get 0.0000% / 8h	1h 30m	$2.0M	$499K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.073%: $6.28
Slippage, 4 orders: −$93.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$110.19
Costs to cover: 1.165%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Bitget: live order book, 2 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 Bybit live order book, 1 min ago	2.11 bp	37.8 bp −$38	192.9 bp −$1,929	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	1.69 bp	14.1 bp −$14	36.3 bp −$363	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
Vest IREN-USD-PERP	0.0000%	1h	47.330	−0.148%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.423	+0.048%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.390	−0.021%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDTlong	0.0000%	8h	47.400	long leg	$1.2M	$498K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.450	+0.105%	$662K	$689K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.400	0.000%	$742K	$1.5M	25x	as long as short
Bitget IRENUSDTshort	0.0000%	8h	47.395	−0.011%	$2.0M	$499K	20x
Variational Omni IREN	0.0000%	8h	47.399	−0.002%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.450	+0.105%	$4K	$199K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	+0.042%	$588	$389K	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	47.350	−0.105%	$9K	$696	20x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.410	+0.021%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.385	−0.032%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.385	−0.032%	$623K	$124K	10x	as long as short
Lighter RH IREN	+0.0072%	1h	47.442	+0.089%	$68K	$114K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.430	+0.063%	$752K	$142K	20x	as long as short
tradeXYZ xyz:IREN	+0.0385%	1h	47.427	+0.057%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.489	+0.188%	$85	$38K	10x	as long as short