Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against HTX+0.105%7-day average — · you sell dearer than you buy

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

Long on HTX 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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.105% dearer against HTX than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IREN-USDT	47.500	0	get 0.0000% / 8h	4h 40m	$9K	$796	20x
Short	Extended IREN_24_5-USD	47.550	0.0040	get 0.0005% / 1h	40m 35s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against HTX. 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 HTXbpFee ExtendedbpOrdersPrice spread, now +0.105%Rate

Funding earned: $8.4
Price spread: +0.105% → 0.000%: $10.53
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $1.93
Costs to cover: 0.170%
Break-even: 5.4 days

Slippage unknown: HTX: no order-book sample; 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 HTX no order-book sample	—	—	—	—	—
Sell Extended no order-book sample	—	—	—	—	—

HTX and 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	47.569	+0.145%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.560	+0.126%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.540	+0.084%	$1.2M	$540K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.480	−0.042%	$645K	$621K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.540	+0.084%	$724K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.533	+0.069%	$2.0M	$416K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.541	+0.087%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.500	0.000%	$5K	$188K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.540	+0.084%	$923	$358K	10x	as long as short
HTX IREN-USDTlong	0.0000%	8h	47.500	long leg	$9K	$796	20x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0013%	1h	47.480	−0.042%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.579	+0.166%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.550	+0.105%	$4K	$7K	5x
QFEX IREN-USD	+0.0044%	1h	47.550	+0.105%	$1.2M	$1.7M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.536	+0.075%	$611K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.550	+0.105%	$748K	$216K	20x	as long as short
tradeXYZ xyz:IREN	+0.0103%	1h	47.567	+0.141%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0421%	1h	47.513	+0.027%	$89	$31K	10x	as long as short