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 −0.002%

Price spread now: SunX against GRVT+0.010%74s7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$230as 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−$2182.183% of the position

Long on GRVT Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.324%−$32 · spread now +0.010%, 7d avg −0.020%

Together, before fees−0.437%+ Points / potential airdropGRVT: Active · farm board−$44 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: SunX is 0.030% dearer against GRVT than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 74 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	47.545	0	get 0.0000% / 8h	5h 06m	$5K	$185K	10x
Short	SunX IREN-USDT	47.550	0	get 0.0000% / 8h	5h 06m	$1K	$359K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.020%: $3.05
Slippage, 4 orders: −$201.34
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$215.29
Costs to cover: 2.183%
Break-even: never at this rate

Slippage from GRVT: live order book, 52 min ago; SunX: live order book, 25 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, 52 min ago	3.16 bp	46.6 bp −$47	95.3 bp −$953	doesn't fit	doesn't fit
Sell SunX live order book, 25 min ago	48.42 bp	68.6 bp −$69	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	47.571	+0.055%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.540	−0.011%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.500	−0.095%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.550	+0.010%	$648K	$622K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.530	−0.032%	$721K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.482	−0.133%	$2.0M	$428K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.516	−0.062%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perplong	0.0000%	8h	47.545	long leg	$5K	$185K	10x
SunX IREN-USDTshort	0.0000%	8h	47.550	+0.010%	$1K	$359K	10x
HTX IREN-USDT	0.0000%	8h	47.510	−0.074%	$9K	$787	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	+0.0009%	1h	47.420	−0.263%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.520	−0.053%	$1.2M	$1.7M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.553	+0.016%	$69K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.485	−0.127%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.476	−0.146%	$610K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.530	−0.032%	$747K	$211K	20x	as long as short
tradeXYZ xyz:IREN	+0.0349%	1h	47.510	−0.074%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0355%	1h	47.531	−0.030%	$87	$31K	10x	as long as short