Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.008%

Price spread now: QFEX against HTX+0.021%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 QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.021% dearer against HTX than usual: you sell high and buy low: +$2 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	46.850	0	get 0.0000% / 8h	1h 55m	$9K	$857	20x
Short	QFEX IREN-USD	46.860	0.0032	get 0.0004% / 1h	55m 29s	$1.2M	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $6.8
Price spread: +0.021% → 0.000%: $2.13
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$13.06
Costs to cover: 0.220%
Break-even: 20.4 days

Slippage unknown: HTX: no order-book sample; QFEX: live order book, 1 min ago. 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 QFEX live order book, 1 min ago	3.20 bp	10.3 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit

HTX: 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
Bitget IRENUSDT	−0.0327%	8h	46.834	−0.034%	$2.1M	$523K	20x	as long as short
Vest IREN-USD-PERP	−0.0007%	1h	46.770	−0.171%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.866	+0.034%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.880	+0.064%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.850	0.000%	$1.2M	$552K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.850	0.000%	$624K	$688K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.880	+0.064%	$720K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.887	+0.079%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.940	+0.191%	$5K	$212K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.990	+0.299%	$850	$346K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDTlong	0.0000%	8h	46.850	long leg	$9K	$857	20x
QFEX IREN-USDshort	+0.0032%	1h	46.860	+0.021%	$1.2M	$1.6M	10x
Extended IREN_24_5-USD	+0.0040%	1h	46.810	−0.085%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.840	−0.021%	$735K	$255K	20x	as long as short
Paragon para:IREN	+0.0113%	1h	46.822	−0.061%	$602K	$182K	10x	as long as short
Lighter RH IREN	+0.0168%	1h	46.880	+0.064%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IREN	+0.0278%	1h	46.861	+0.023%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	46.906	+0.120%	$89	$31K	10x	as long as short