Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against OKX+0.010%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.811%+$81 · spread now +0.010%, 7d avg +0.051%

Together, before fees+0.849%+$85 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.041% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	46.350	0	get 0.0000% / 8h	7h 35m	$620K	$648K	25x
Short	Binance IRENUSDT	46.355	0	get 0.0000% / 8h	7h 35m	$3.5M	$6.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.051%: −$4.14
Slippage, 4 orders: −$46.95
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$71.09
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from OKX: live order book, 60 min ago; Binance: live order book, 3 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 OKX live order book, 60 min ago	4.27 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	2.16 bp	13.7 bp −$14	36.9 bp −$369	129.0 bp −$12.9K	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	−0.0127%	8h	46.338	−0.026%	$2.1M	$567K	20x	as long as short
Paragon para:IREN	−0.0111%	1h	46.333	−0.036%	$596K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0015%	1h	46.260	−0.194%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.371	+0.044%	$24K	$9K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	46.355	+0.010%	$3.5M	$6.3M	25x
Bybit IRENUSDT	0.0000%	8h	46.310	−0.086%	$1.2M	$568K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	46.350	long leg	$620K	$648K	25x
Gate IREN_USDT	0.0000%	8h	46.340	−0.022%	$812K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.347	−0.006%	$181K	$101K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.447	+0.210%	$4K	$223K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IREN-USDT	0.0000%	8h	46.420	+0.151%	$1K	$327K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	46.270	−0.173%	$9K	$876	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.315	−0.076%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.340	−0.022%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0072%	1h	46.382	+0.069%	$69K	$98K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.360	+0.022%	$732K	$307K	20x	as long as short
tradeXYZ xyz:IREN	+0.0207%	1h	46.355	+0.011%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.387	+0.080%	$82	$31K	10x	as long as short