Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0341%/8h= +37.3% APRpaid last 24h +0.017%

Price spread now: tradeXYZ against Gate−0.051%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$640.637% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.246%+$25 on $10k

Price spread, last 7 days+0.123%+$12 · spread now −0.051%, 7d avg −0.020%

Together, before fees+0.369%+ Points / potential airdroptradeXYZ: Active · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.030% cheaper against Gate than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.020%). If the spread goes back, that is −$3 on $10k: about 7 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.246% in total) that is about 21 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.520	0	get 0.0000% / 8h	5h 02m	$721K	$1.2M	25x
Short	tradeXYZ xyz:IREN	47.496	0.0341	get 0.0043% / 1h	2m 40s	$3.2M	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.051%Rate

Funding earned: $71.56
Price spread: −0.051% → −0.020%: −$3.03
Slippage, 4 orders: −$30.7
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $4.83
Costs to cover: 0.637%
Break-even: 6.5 days

Slippage from Gate: live order book, 4 min ago; tradeXYZ: live order book, 5 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, 4 min ago	3.16 bp	12.4 bp −$12	44.1 bp −$441	72.3 bp −$7,233	doesn't fit
Sell tradeXYZ live order book, 5 min ago	2.31 bp	15.8 bp −$16	doesn't fit	doesn't fit	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	47.564	+0.093%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.515	−0.010%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.490	−0.063%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.550	+0.063%	$648K	$621K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.520	long leg	$721K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.490	−0.063%	$2.0M	$422K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.531	+0.023%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.542	+0.045%	$5K	$185K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.540	+0.042%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.490	−0.063%	$9K	$789	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	+0.0010%	1h	47.440	−0.168%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.500	−0.042%	$1.2M	$1.7M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.555	+0.074%	$69K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.495	−0.053%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.490	−0.063%	$611K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.520	0.000%	$747K	$211K	20x	as long as short
tradeXYZ xyz:IRENshort	+0.0341%	1h	47.496	−0.051%	$3.2M	$1.9M	10x
Phoenix IREN	+0.0355%	1h	47.579	+0.124%	$83	$31K	10x	as long as short