Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0199%/8h= +21.8% APRpaid last 24h +0.085%

Price spread now: tradeXYZ against HTX−0.147%7-day average — · you buy dearer than you sell

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

Long on HTX Short on tradeXYZ

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 airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.147% cheaper against HTX than usual: you would sell low and buy high (spread −0.147% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 2.4 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IREN-USDT	46.400	0	get 0.0000% / 8h	7h 36m	$9K	$873	20x
Short	tradeXYZ xyz:IREN	46.332	0.0199	get 0.0025% / 1h	36m 41s	$3.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.147%Rate

Funding earned: $41.89
Price spread: −0.147% → 0.000%: −$14.66
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$2.77
Costs to cover: 0.300%
Break-even: 7.5 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: live order book, 11 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 tradeXYZ live order book, 11 min ago	1.51 bp	19.8 bp −$20	doesn't fit	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	−0.0131%	8h	46.318	−0.177%	$2.1M	$567K	20x	as long as short
Paragon para:IREN	−0.0130%	1h	46.342	−0.124%	$596K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0014%	1h	46.300	−0.216%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.391	−0.020%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.333	−0.145%	$3.5M	$6.3M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.320	−0.172%	$1.2M	$568K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.350	−0.108%	$620K	$648K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.380	−0.043%	$813K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.487	+0.188%	$181K	$101K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.447	+0.102%	$4K	$223K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IREN-USDT	0.0000%	8h	46.420	+0.043%	$1K	$327K	10x	as long as short
HTX IREN-USDTlong	0.0000%	8h	46.400	long leg	$9K	$873	20x
Extended IREN_24_5-USD	+0.0040%	1h	46.364	−0.078%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.400	0.000%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0080%	1h	46.373	−0.058%	$69K	$98K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.370	−0.065%	$732K	$306K	20x	as long as short
tradeXYZ xyz:IRENshort	+0.0199%	1h	46.332	−0.147%	$3.1M	$2.0M	10x
Phoenix IREN	+0.0342%	1h	46.387	−0.028%	$82	$31K	10x	as long as short