Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.010%

Price spread now: Extended against GRVT−0.115%7-day average — · you buy dearer than you sell

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

Long on GRVT 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 airdropGRVT: Active · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.115% cheaper against GRVT than usual: you would sell low and buy high (spread −0.115% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9.6 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	GRVT IREN_USDT_Perp	47.394	0	get 0.0000% / 8h	6h 00m	$5K	$180K	10x
Short	Extended IREN_24_5-USD	47.340	0.0040	get 0.0005% / 1h	0m 56s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against GRVT. 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 GRVTbpFee ExtendedbpOrdersPrice spread, now −0.115%Rate

Funding earned: $8.4
Price spread: −0.115% → 0.000%: −$11.49
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$17.09
Costs to cover: 0.140%
Break-even: 21.2 days

Slippage unknown: GRVT: live order book, 62 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 GRVT live order book, 62 min ago	4.20 bp	26.3 bp −$26	57.7 bp −$577	doesn't fit	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
Aster IRENUSDT	0.0000%	8h	47.468	+0.156%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.395	+0.001%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.390	−0.009%	$1.2M	$523K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.390	−0.009%	$646K	$628K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.390	−0.009%	$721K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.364	−0.064%	$2.0M	$431K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.392	−0.006%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perplong	0.0000%	8h	47.394	long leg	$5K	$180K	10x
SunX IREN-USDT	0.0000%	8h	47.400	+0.012%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.380	−0.031%	$9K	$765	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	+0.0005%	1h	47.310	−0.178%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.400	+0.012%	$1.2M	$1.8M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.413	+0.039%	$69K	$99K	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.340	−0.115%	$4K	$7K	5x
KuCoin IRENUSDTM	+0.0100%	8h	47.370	−0.052%	$745K	$191K	20x	as long as short
Paragon para:IREN	+0.0192%	1h	47.350	−0.094%	$609K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0236%	1h	47.385	−0.020%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.417	+0.048%	$84	$31K	10x	as long as short