Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.137%

Price spread now: Extended against Gate−0.169%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Extended

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 · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.169% cheaper against Gate than usual: you would sell low and buy high (spread −0.169% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.390	0	get 0.0000% / 8h	2h 20m	$742K	$1.6M	25x
Short	Extended IREN_24_5-USD	47.310	0.0040	get 0.0005% / 1h	20m 57s	$4K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.169%Rate

Funding earned: $8.4
Price spread: −0.169% → 0.000%: −$16.88
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$28.48
Costs to cover: 0.200%
Break-even: 30.7 days

Slippage unknown: Gate: live order book, 1 min ago; Extended: 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 Gate live order book, 1 min ago	4.22 bp	23.8 bp −$24	51.9 bp −$519	78.5 bp −$7,849	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

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
Paragon para:IREN	−0.0001%	1h	47.355	−0.074%	$622K	$126K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.424	+0.071%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.425	+0.075%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.370	−0.042%	$1.2M	$503K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.400	+0.021%	$662K	$692K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.390	long leg	$742K	$1.6M	25x
Bitget IRENUSDT	0.0000%	8h	47.351	−0.082%	$2.0M	$538K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.363	−0.056%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.400	+0.021%	$4K	$205K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	+0.063%	$531	$390K	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	47.390	0.000%	$9K	$676	20x	as long as short
Vest IREN-USD-PERP	+0.0003%	1h	47.320	−0.148%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0018%	1h	47.400	+0.021%	$1.2M	$2.1M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.425	+0.074%	$67K	$114K	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.310	−0.169%	$4K	$8K	5x
KuCoin IRENUSDTM	+0.0100%	8h	47.410	+0.042%	$752K	$144K	20x	as long as short
tradeXYZ xyz:IREN	+0.0303%	1h	47.403	+0.027%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0320%	1h	47.376	−0.030%	$87	$38K	10x	as long as short