Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: OKX against Extended+0.150%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 OKX

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 · farm boardneeds both histories

The price spread pays, funding is against you. OKX is 0.150% dearer against Extended than usual: you sell high and buy low (spread +0.150% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	46.730	0.0040	pay 0.0005% / 1h	17m 30s	$4K	$7K	5x
Short	OKX IREN-USDT-SWAP	46.800	0	get 0.0000% / 8h	17m 30s	$625K	$691K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.150%Rate

Funding earned: −$8.4
Price spread: +0.150% → 0.000%: $14.98
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$8.42
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; OKX: live order book, 18 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 OKX live order book, 18 min ago	4.27 bp	25.8 bp −$26	doesn't fit	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	−0.0203%	8h	46.777	+0.101%	$2.1M	$539K	20x	as long as short
Vest IREN-USD-PERP	0.0000%	1h	46.680	−0.107%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.816	+0.185%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.797	+0.143%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.790	+0.128%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	46.800	+0.150%	$625K	$691K	25x
Gate IREN_USDT	0.0000%	8h	46.830	+0.214%	$803K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.812	+0.175%	$191K	$92K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.827	+0.207%	$5K	$220K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.820	+0.193%	$1K	$334K	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	46.790	+0.128%	$9K	$877	20x	as long as short
Extended IREN_24_5-USDlong	+0.0040%	1h	46.730	long leg	$4K	$7K	5x
QFEX IREN-USD	+0.0043%	1h	46.780	+0.107%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.753	+0.050%	$601K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.800	+0.150%	$736K	$274K	20x	as long as short
Lighter RH IREN	+0.0176%	1h	46.843	+0.242%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0193%	1h	46.757	+0.058%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.808	+0.167%	$83	$31K	10x	as long as short