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 0.000%

Price spread now: Variational Omni against HTX+0.079%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.079% dearer against HTX than usual: you sell high and buy low, +$8 on $10k if it 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	46.670	0	get 0.0000% / 8h	1h 33m	$9K	$864	20x
Short	Variational Omni IREN	46.707	0	get 0.0000% / 8h	1h 33m	$191K	$102K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.079%Rate

Funding earned: $0
Price spread: +0.079% → 0.000%: $7.89
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$4.11
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 11 min ago	6.98 bp	doesn't fit	55.1 bp −$551	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	−0.0348%	8h	46.677	+0.015%	$2.1M	$525K	20x	as long as short
Vest IREN-USD-PERP	−0.0007%	1h	46.600	−0.150%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.721	+0.109%	$29K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.711	+0.087%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.680	+0.021%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.680	+0.021%	$622K	$687K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.720	+0.107%	$717K	$1.2M	25x	as long as short
Variational Omni IRENshort	0.0000%	8h	46.707	+0.079%	$191K	$102K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.760	+0.193%	$5K	$215K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.830	+0.343%	$863	$342K	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	46.670	long leg	$9K	$864	20x
QFEX IREN-USD	+0.0032%	1h	46.700	+0.064%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.655	−0.032%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.676	+0.012%	$600K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.710	+0.086%	$734K	$259K	20x	as long as short
tradeXYZ xyz:IREN	+0.0182%	1h	46.664	−0.013%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0208%	1h	46.745	+0.161%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.688	+0.039%	$85	$31K	10x	as long as short