IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%

Price spread now: KuCoin against Bybit−0.064%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1681.684% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.181%+$18 on $10k

Price spread, last 4 days (all we have)+0.217%+$22 · spread now −0.064%, 7d avg +0.033%

Together, before fees+0.398%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.097% cheaper against Bybit than usual: you would sell low and buy high (spread −0.064% now, against its 7-day average of +0.033%). If the spread goes back, that is −$10 on $10k: about 3.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IRENUSDT	47.020	0	get 0.0000% / 8h	2h 05m	$1.2M	$553K	25x
Short	KuCoin IRENUSDTM	46.990	0.0100	get 0.0100% / 8h	2h 05m	$739K	$251K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.064%Rate

Funding earned: $21
Price spread: −0.064% → +0.033%: −$9.69
Slippage, 4 orders: −$145.43
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$157.12
Costs to cover: 1.684%
Break-even: 59.4 days

Slippage from Bybit: live order book, 5 min ago; KuCoin: live order book, 4 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, 5 min ago	2.13 bp	34.4 bp −$34	110.0 bp −$1,100	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.52 bp	40.1 bp −$40	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
Bitget IRENUSDT	−0.0360%	8h	46.992	−0.060%	$2.1M	$520K	20x	as long as short
Vest IREN-USD-PERP	−0.0008%	1h	46.930	−0.191%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.026	+0.012%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.020	0.000%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDTlong	0.0000%	8h	47.020	long leg	$1.2M	$553K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.050	+0.064%	$627K	$693K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.030	+0.021%	$723K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	47.027	+0.014%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.020	0.000%	$4K	$211K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.030	+0.021%	$915	$347K	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	46.980	−0.085%	$9K	$850	20x	as long as short
Lighter RH IREN	+0.0032%	1h	47.044	+0.051%	$70K	$98K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.965	−0.117%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	47.010	−0.021%	$1.2M	$1.6M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.980	−0.085%	$604K	$182K	10x	as long as short
KuCoin IRENUSDTMshort	+0.0100%	8h	46.990	−0.064%	$739K	$251K	20x
tradeXYZ xyz:IREN	+0.0201%	1h	46.999	−0.045%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	47.041	+0.045%	$87	$31K	10x	as long as short