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 +0.061%

Price spread now: Gate against GRVT−0.085%81s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1151.150% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now −0.085%, 7d avg −0.002%

Together, before fees−0.004%+ Points / potential airdropGRVT: Active · farm board$0 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: Gate is 0.083% cheaper against GRVT than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 81 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT IREN_USDT_Perp	47.100	0	get 0.0000% / 8h	3h 00m	$4K	$204K	10x
Short	Gate IREN_USDT	47.060	0	get 0.0000% / 8h	3h 00m	$720K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.002%: −$8.28
Slippage, 4 orders: −$91.03
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$123.31
Costs to cover: 1.150%
Break-even: never at this rate

Slippage from GRVT: live order book, 48 min ago; Gate: live order book, 2 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 GRVT live order book, 48 min ago	3.16 bp	35.0 bp −$35	79.9 bp −$799	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.32 bp	22.5 bp −$22	89.6 bp −$896	123.6 bp −$12.4K	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	47.086	−0.029%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.050	−0.106%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.020	−0.170%	$1.2M	$544K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	−0.042%	$647K	$649K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.060	−0.085%	$720K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.009	−0.193%	$2.1M	$501K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.072	−0.060%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perplong	0.0000%	8h	47.100	long leg	$4K	$204K	10x
SunX IREN-USDT	0.0000%	8h	47.080	−0.042%	$1K	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.020	−0.170%	$9K	$833	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	+0.0006%	1h	46.970	−0.276%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0011%	1h	47.060	−0.085%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.015	−0.180%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.020	−0.170%	$604K	$182K	10x	as long as short
Lighter RH IREN	+0.0064%	1h	47.090	−0.021%	$69K	$97K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.040	−0.127%	$739K	$234K	20x	as long as short
tradeXYZ xyz:IREN	+0.0177%	1h	47.037	−0.134%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.062	−0.081%	$91	$31K	10x	as long as short