IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.029%

Price spread now: Binance against KuCoin0.000%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1321.319% of the position

Long on KuCoin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.230%−$23 on $10k

Price spread, last 4 days (all we have)+0.809%+$81 · spread now 0.000%, 7d avg +0.042%

Together, before fees+0.579%+$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.042% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	46.790	0.0100	pay 0.0100% / 8h	1h 12m	$736K	$258K	20x
Short	Binance IRENUSDT	46.790	0	get 0.0000% / 8h	1h 12m	$3.5M	$6.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against KuCoin. 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 KuCoinbpFee BinancebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$21
Price spread: 0.000% → +0.042%: −$4.19
Slippage, 4 orders: −$109.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$157.07
Costs to cover: 1.319%
Break-even: never at this rate

Slippage from KuCoin: live order book, 57 min ago; Binance: live order book, 11 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 KuCoin live order book, 57 min ago	8.52 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	2.14 bp	13.2 bp −$13	36.0 bp −$360	148.1 bp −$14.8K	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
Bitget IRENUSDT	−0.0330%	8h	46.772	−0.038%	$2.1M	$527K	20x	as long as short
Vest IREN-USD-PERP	−0.0003%	1h	46.700	−0.192%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.767	−0.050%	$24K	$9K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	46.790	0.000%	$3.5M	$6.2M	25x
Bybit IRENUSDT	0.0000%	8h	46.760	−0.064%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.830	+0.085%	$626K	$695K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.830	+0.085%	$717K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.742	−0.103%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.760	−0.063%	$5K	$217K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.820	+0.064%	$980	$339K	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-USDT	0.0000%	8h	46.760	−0.064%	$9K	$873	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.800	+0.021%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.740	−0.107%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.782	−0.016%	$602K	$182K	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	46.790	long leg	$736K	$258K	20x
Lighter RH IREN	+0.0104%	1h	46.852	+0.133%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0131%	1h	46.762	−0.060%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.744	−0.098%	$86	$31K	10x	as long as short