Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.110%

Price spread now: Extended against KuCoin−0.127%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.127% cheaper against KuCoin than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	47.460	0.0100	pay 0.0100% / 8h	44m 28s	$746K	$155K	20x
Short	Extended IREN_24_5-USD	47.400	0.0040	get 0.0005% / 1h	44m 28s	$4K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$12.6
Price spread: −0.127% → 0.000%: −$12.73
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$42.33
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 19 min ago; 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 KuCoin live order book, 19 min ago	5.27 bp	80.6 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

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
Vest IREN-USD-PERP	−0.0001%	1h	47.360	−0.211%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.433	−0.058%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.460	0.000%	$3.5M	$6.6M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.430	−0.063%	$1.2M	$497K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.450	−0.021%	$662K	$682K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.450	−0.021%	$737K	$1.5M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.411	−0.103%	$2.0M	$524K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.454	−0.012%	$207K	$88K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.450	−0.021%	$1K	$388K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.360	−0.211%	$9K	$707	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT IREN_USDT_Perp	+0.0007%	8h	47.452	−0.016%	$4K	$191K	10x	as long as short
QFEX IREN-USD	+0.0032%	1h	47.450	−0.021%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.400	−0.127%	$4K	$8K	5x
Paragon para:IREN	+0.0060%	1h	47.410	−0.106%	$637K	$147K	10x	as long as short
Lighter RH IREN	+0.0072%	1h	47.470	+0.021%	$68K	$111K	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.460	long leg	$746K	$155K	20x
tradeXYZ xyz:IREN	+0.0352%	1h	47.437	−0.048%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0388%	1h	47.477	+0.036%	$85	$38K	10x	as long as short