Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.010%

Price spread now: GRVT against Extended+0.043%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 GRVT

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 airdropExtended: Active · GRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.043% dearer against Extended than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.055	0.0040	pay 0.0005% / 1h	51m 11s	$4K	$7K	5x
Short	GRVT IREN_USDT_Perp	47.075	0	get 0.0000% / 8h	2h 51m	$4K	$206K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$8.4
Price spread: +0.043% → 0.000%: $4.25
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$18.15
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; GRVT: live order book, 57 min ago. 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 GRVT live order book, 57 min ago	3.16 bp	40.0 bp −$40	76.7 bp −$767	doesn't fit	doesn't fit

Extended: 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
Bitget IRENUSDT	−0.0056%	8h	47.058	+0.006%	$2.1M	$501K	20x	as long as short
Aster IRENUSDT	0.0000%	8h	47.053	−0.003%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.090	+0.074%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.060	+0.011%	$1.2M	$545K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	+0.053%	$648K	$653K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.130	+0.159%	$722K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	47.102	+0.099%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perpshort	0.0000%	8h	47.075	+0.043%	$4K	$206K	10x
SunX IREN-USDT	0.0000%	8h	47.060	+0.011%	$998	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.050	−0.011%	$9K	$833	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0003%	1h	46.990	−0.138%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0040%	1h	47.109	+0.115%	$70K	$95K	10x	as long as short
Extended IREN_24_5-USDlong	+0.0040%	1h	47.055	long leg	$4K	$7K	5x
QFEX IREN-USD	+0.0043%	1h	47.110	+0.117%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.057	+0.004%	$605K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.080	+0.053%	$740K	$237K	20x	as long as short
tradeXYZ xyz:IREN	+0.0339%	1h	47.082	+0.057%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	47.041	−0.030%	$87	$31K	10x	as long as short