Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.062%

Price spread now: Binance against Gate−0.023%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$740.744% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.023%, 7d avg +0.024%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.046% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.490	0	get 0.0000% / 8h	4h 46m	$723K	$1.2M	25x
Short	Binance IRENUSDT	47.479	0	get 0.0000% / 8h	4h 46m	$3.5M	$6.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Gate. 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 GatebpFee BinancebpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → +0.024%: −$4.63
Slippage, 4 orders: −$49.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$79.04
Costs to cover: 0.744%
Break-even: never at this rate

Slippage from Gate: live order book, just now; Binance: live order book, 7 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 Gate live order book, just now	4.21 bp	31.1 bp −$31	54.8 bp −$548	80.5 bp −$8,053	doesn't fit
Sell Binance live order book, 7 min ago	1.05 bp	11.6 bp −$12	46.3 bp −$463	410.7 bp −$41.1K	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	47.517	+0.056%	$29K	$4K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	47.479	−0.023%	$3.5M	$6.1M	25x
Bybit IRENUSDT	0.0000%	8h	47.460	−0.063%	$1.2M	$542K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.480	−0.021%	$645K	$622K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.490	long leg	$723K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.459	−0.065%	$2.0M	$416K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.482	−0.017%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.500	+0.021%	$4K	$187K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.500	+0.021%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.440	−0.105%	$9K	$793	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	+0.0012%	1h	47.450	−0.084%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.527	+0.078%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.480	−0.021%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.500	+0.021%	$1.2M	$1.7M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.500	+0.021%	$611K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0092%	1h	47.512	+0.046%	$3.2M	$1.9M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.490	0.000%	$746K	$213K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.534	+0.093%	$92	$31K	10x	as long as short