Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: Aster against Extended+0.299%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.299% dearer against Extended than usual: you sell high and buy low (spread +0.299% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.439	0.0040	pay 0.0005% / 1h	58m 23s	$4K	$8K	5x
Short	Aster IRENUSDT	47.581	0	get 0.0000% / 8h	7h 58m	$29K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.299%Rate

Funding earned: −$8.4
Price spread: +0.299% → 0.000%: $29.91
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: $8.51
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Extended: no order-book sample; 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 Extended no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Extended and 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
Aster IRENUSDTshort	0.0000%	8h	47.581	+0.299%	$29K	$4K	20x
Bybit IRENUSDT	0.0000%	8h	47.530	+0.192%	$1.2M	$475K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.500	+0.129%	$663K	$641K	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.493	+0.114%	$2.0M	$441K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.479	+0.083%	$208K	$86K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.490	+0.108%	$875	$384K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.450	+0.023%	$9K	$723	20x	as long as short
Vest IREN-USD-PERP	+0.0003%	1h	47.470	+0.065%	—	$15K	10x	as long as short
Binance IRENUSDT	+0.0011%	8h	47.560	+0.255%	$3.5M	$6.4M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0022%	8h	47.485	+0.096%	$5K	$186K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USDlong	+0.0040%	1h	47.439	long leg	$4K	$8K	5x
QFEX IREN-USD	+0.0045%	1h	47.520	+0.171%	$1.2M	$2.1M	10x	as long as short
Lighter RH IREN	+0.0096%	1h	47.563	+0.261%	$68K	$108K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.510	+0.150%	$747K	$155K	20x	as long as short
Gate IREN_USDT	+0.0159%	8h	47.510	+0.150%	$739K	$1.2M	25x	as long as short
Phoenix IREN	+0.0388%	1h	47.491	+0.110%	$83	$35K	10x	as long as short
Paragon para:IREN	+0.0424%	1h	47.510	+0.150%	$638K	$147K	10x	as long as short
tradeXYZ xyz:IREN	+0.0619%	1h	47.497	+0.122%	$3.2M	$1.9M	10x	as long as short