Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: SunX against Extended−0.042%7-day average — · you buy dearer than you sell

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

Long on Extended Short on SunX

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.042% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.440	0.0040	pay 0.0005% / 1h	47m 34s	$4K	$7K	5x
Short	SunX IREN-USDT	47.420	0	get 0.0000% / 8h	3h 47m	$970	$356K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$8.4
Price spread: −0.042% → 0.000%: −$4.22
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.62
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; SunX: live order book, 33 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 SunX live order book, 33 min ago	48.30 bp	67.0 bp −$67	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
Aster IRENUSDT	0.0000%	8h	47.527	+0.182%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.500	+0.126%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.470	+0.063%	$1.2M	$538K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.540	+0.211%	$661K	$636K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.490	+0.105%	$722K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.472	+0.067%	$2.1M	$495K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.507	+0.141%	$212K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.565	+0.263%	$4K	$197K	10x	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.420	−0.042%	$970	$356K	10x
HTX IREN-USDT	0.0000%	8h	47.460	+0.042%	$9K	$817	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.450	+0.021%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0018%	1h	47.390	−0.105%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.518	+0.164%	$68K	$94K	10x	as long as short
Extended IREN_24_5-USDlong	+0.0040%	1h	47.440	long leg	$4K	$7K	5x
tradeXYZ xyz:IREN	+0.0050%	1h	47.468	+0.059%	$3.2M	$2.0M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.480	+0.084%	$747K	$223K	20x	as long as short
Paragon para:IREN	+0.0161%	1h	47.440	0.000%	$610K	$182K	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.558	+0.249%	$83	$31K	10x	as long as short