Funding you earn now, next payment 00:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.115%
Price spread now: Paragon against Bybit−0.067%53s7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$87as 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−$900.904% of the position
Funding, last 7 days+0.034%+$3 on $10k
+Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.067%, 7d avg −0.024%
=Funding pays, the price is against you. Paragon is 0.043% cheaper against Bybit than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.024%). If the spread goes back, that is −$4 on $10k: about 2.4 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.034% in total) that is about 8.7 days. The two prices were read 53 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 | Bybit IRENUSDT | 47.420 | 0 | get 0.0000% / 8h | 17m 53s | $1.2M | $485K | 25x |
| Short | Paragon para:IREN | 47.388 | 0.0060 | get 0.0008% / 1h | 17m 53s | $637K | $147K | 10x |
Bybit IRENUSDT
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $12.6
- Price spread: −0.067% → −0.024%
- −$4.28
- Slippage, 4 orders
- −$69.44
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$82.11
- Costs to cover
- 0.904%
- Break-even
- 52.6 days
Slippage from Bybit: live order book, 3 min ago; Paragon: live order book, 48 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, 3 min ago | 2.11 bp | 14.2 bp −$14 | 104.2 bp −$1,042 | doesn't fit | doesn't fit |
| Sell Paragon live order book, 48 min ago | 21.11 bp | 26.1 bp −$26 | 42.3 bp −$423 | 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 | 47.429 | +0.020% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.450 | +0.063% | $3.5M | $6.5M | 25x | as long as short |
| Bybit IRENUSDTlong | 0.0000% | 8h | 47.420 | long leg | $1.2M | $485K | 25x | |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.440 | +0.042% | $662K | $667K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.420 | 0.000% | $737K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.400 | −0.042% | $2.0M | $497K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.444 | +0.050% | $208K | $88K | — | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.460 | +0.084% | $740 | $386K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.420 | 0.000% | $9K | $717 | 20x | as long as short |
| Vest IREN-USD-PERP | +0.0004% | 1h | 47.350 | −0.148% | — | $15K | 10x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
SunX IREN-USDT
HTX IREN-USDT
Vest IREN-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT IREN_USDT_Perp | +0.0008% | 8h | 47.449 | +0.062% | $4K | $189K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.431 | +0.023% | $68K | $111K | 10x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 47.440 | +0.042% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.370 | −0.105% | $4K | $8K | 5x | as long as short |
| Paragon para:IRENshort | +0.0060% | 1h | 47.388 | −0.067% | $637K | $147K | 10x | |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.440 | +0.042% | $746K | $154K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0239% | 1h | 47.406 | −0.030% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IREN | +0.0388% | 1h | 47.467 | +0.099% | $84 | $38K | 10x | as long as short |
GRVT IREN_USDT_Perp
Lighter RH IREN
QFEX IREN-USD
Extended IREN_24_5-USD
KuCoin IRENUSDTM
tradeXYZ xyz:IREN
Phoenix IREN