Funding you earn now, next payment 08:00 UTC−0.0358%/8h= −39.2% APRnext payment −$3.58 per $10,000 · paid last 24h 0.000%
Price spread now: Bitget against OKX−0.019%7-day average −0.080% · you buy dearer than you sell
Net, funding: paid 7d − costs−$107as in the Funding arb table
Net, price: spread back to 7d avg − costs−$103as in the Price arb table
costs, in and out, $10k−$1091.093% of the position
Funding, last 7 days+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.019%, 7d avg −0.080%
=The price spread pays, funding is against you. Bitget is 0.061% dearer against OKX than usual: you sell high and buy low (spread −0.019% now, against its 7-day average of −0.080%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 14 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.58 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX IREN-USDT-SWAP | 46.650 | 0 | get 0.0000% / 8h | 1h 31m | $621K | $687K | 25x |
| Short | Bitget IRENUSDT | 46.641 | −0.0358 | pay 0.0358% / 8h | 1h 31m | $2.1M | $525K | 20x |
OKX IREN-USDT-SWAP
Bitget IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against OKX. 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
- −$75.18
- Price spread: −0.019% → −0.080%
- $6.1
- Slippage, 4 orders
- −$87.31
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$178.39
- Costs to cover
- 1.093%
- Break-even
- never at this rate
Slippage from OKX: live order book, 10 min ago; Bitget: live order book, 1 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, 10 min ago | 4.28 bp | 30.6 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 1.82 bp | 26.0 bp −$26 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDTshort | −0.0358% | 8h | 46.641 | −0.019% | $2.1M | $525K | 20x | |
| Vest IREN-USD-PERP | −0.0007% | 1h | 46.580 | −0.150% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.685 | +0.076% | $29K | $9K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.669 | +0.041% | $3.4M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.660 | +0.021% | $1.2M | $550K | 25x | as long as short |
| OKX IREN-USDT-SWAPlong | 0.0000% | 8h | 46.650 | long leg | $621K | $687K | 25x | |
| Gate IREN_USDT | 0.0000% | 8h | 46.670 | +0.043% | $717K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.707 | +0.122% | $191K | $102K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.702 | +0.112% | $4K | $216K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.660 | +0.021% | $863 | $342K | 10x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.620 | −0.064% | $9K | $865 | 20x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 46.670 | +0.043% | $1.2M | $1.5M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.610 | −0.086% | $4K | $7K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 46.667 | +0.036% | $600K | $182K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.680 | +0.064% | $734K | $255K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0155% | 1h | 46.633 | −0.036% | $3.1M | $2.0M | 10x | as long as short |
| Lighter RH IREN | +0.0184% | 1h | 46.693 | +0.092% | $70K | $96K | 10x | as long as short |
| Phoenix IREN | +0.0341% | 1h | 46.707 | +0.122% | $84 | $31K | 10x | as long as short |
HTX IREN-USDT
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN
Lighter RH IREN
Phoenix IREN