Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.025%

Price spread now: Vest against KuCoin−0.191%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 Vest

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 airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Vest is 0.191% cheaper against KuCoin than usual: you would sell low and buy high (−$19 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	47.000	0.0100	pay 0.0100% / 8h	6h 57m	$743K	$346K	20x
Short	Vest IREN-USD-PERP	46.910	−0.0025	pay 0.0003% / 1h	57m 22s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.191%Rate

Funding earned: −$26.19
Price spread: −0.191% → 0.000%: −$19.15
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$59.34
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 57 min ago; Vest: 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, 57 min ago	15.04 bp	60.0 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0032%	8h	46.954	−0.098%	$2.1M	$640K	20x	as long as short
Vest IREN-USD-PERPshort	−0.0025%	1h	46.910	−0.191%	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	46.926	−0.158%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.990	−0.021%	$1.2M	$572K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.020	+0.043%	$630K	$672K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.010	+0.021%	$811K	$1.4M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.976	−0.050%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.990	−0.021%	$973	$322K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.030	+0.064%	$9K	$870	20x	as long as short
Binance IRENUSDT	+0.0031%	8h	47.020	+0.043%	$3.5M	$6.4M	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0032%	1h	47.033	+0.070%	$70K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.940	−0.128%	$4K	$4K	5x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.010	+0.021%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.940	−0.128%	$604K	$177K	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.000	long leg	$743K	$346K	20x
tradeXYZ xyz:IREN	+0.0251%	1h	47.003	+0.006%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.984	−0.034%	$85	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0513%	8h	47.000	0.000%	$5K	$226K	10x	as long as short