Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.055%
Price spread now: Paragon against KuCoin−0.095%50s7-day average −0.056% · you buy dearer than you sell
Net, funding: paid 7d − costs−$193as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1791.785% of the position
Funding, last 7 days−0.147%−$15 on $10k
+Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.095%, 7d avg −0.056%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paragon is 0.039% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.056%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin IRENUSDTM | 47.470 | 0.0100 | pay 0.0100% / 8h | 36m 01s | $746K | $154K | 20x |
| Short | Paragon para:IREN | 47.425 | 0.0060 | get 0.0008% / 1h | 36m 01s | $637K | $147K | 10x |
KuCoin IRENUSDTM
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.4
- Price spread: −0.095% → −0.056%
- −$3.89
- Slippage, 4 orders
- −$156.52
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$190.81
- Costs to cover
- 1.785%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 28 min ago; Paragon: live order book, 30 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, 28 min ago | 5.27 bp | 80.6 bp −$81 | doesn't fit | doesn't fit | doesn't fit |
| Sell Paragon live order book, 30 min ago | 21.11 bp | 26.1 bp −$26 | 42.3 bp −$423 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | −0.0001% | 1h | 47.380 | −0.190% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 47.478 | +0.016% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.460 | −0.021% | $3.5M | $6.6M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.440 | −0.063% | $1.2M | $490K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.450 | −0.042% | $662K | $668K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.440 | −0.063% | $736K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.427 | −0.091% | $2.0M | $503K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.455 | −0.033% | $207K | $88K | — | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.450 | −0.042% | $1K | $386K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.410 | −0.126% | $9K | $711 | 20x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
SunX IREN-USDT
HTX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT IREN_USDT_Perp | +0.0031% | 8h | 47.460 | −0.021% | $4K | $191K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.481 | +0.023% | $68K | $111K | 10x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 47.440 | −0.063% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.425 | −0.095% | $4K | $8K | 5x | as long as short |
| Paragon para:IRENshort | +0.0060% | 1h | 47.425 | −0.095% | $637K | $147K | 10x | |
| KuCoin IRENUSDTMlong | +0.0100% | 8h | 47.470 | long leg | $746K | $154K | 20x | |
| tradeXYZ xyz:IREN | +0.0309% | 1h | 47.433 | −0.078% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IREN | +0.0388% | 1h | 47.474 | +0.008% | $86 | $38K | 10x | as long as short |
GRVT IREN_USDT_Perp
Lighter RH IREN
QFEX IREN-USD
Extended IREN_24_5-USD
tradeXYZ xyz:IREN
Phoenix IREN