Funding you earn now, next payment 08:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.018%
Price spread now: Paragon against OKX−0.141%7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$101as in the Funding arb table
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1111.114% of the position
Funding, last 7 days+0.102%+$10 on $10k
+Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.141%, 7d avg −0.047%
=Funding pays, the price is against you. Paragon is 0.094% cheaper against OKX than usual: you would sell low and buy high (spread −0.141% now, against its 7-day average of −0.047%). If the spread goes back, that is −$9 on $10k: about 38 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.102% in total) that is about 6.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.102% in total (about 5.3% a year). A funding rate is set anew for every payment. 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 | 46.850 | 0 | get 0.0000% / 8h | 49m 07s | $625K | $689K | 25x |
| Short | Paragon para:IREN | 46.784 | 0.0200 | get 0.0025% / 1h | 49m 07s | $602K | $177K | 10x |
OKX IREN-USDT-SWAP
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon 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
- $41.94
- Price spread: −0.141% → −0.047%
- −$9.43
- Slippage, 4 orders
- −$91.42
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$78.92
- Costs to cover
- 1.114%
- Break-even
- 20.2 days
Slippage from OKX: live order book, 52 min ago; Paragon: live order book, 7 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, 52 min ago | 4.28 bp | 30.6 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Paragon live order book, 7 min ago | 24.08 bp | 29.4 bp −$29 | 42.8 bp −$428 | 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 IRENUSDT | −0.0278% | 8h | 46.815 | −0.075% | $2.1M | $529K | 20x | as long as short |
| Vest IREN-USD-PERP | −0.0003% | 1h | 46.730 | −0.256% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.807 | −0.092% | $24K | $9K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.850 | 0.000% | $3.5M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.800 | −0.107% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAPlong | 0.0000% | 8h | 46.850 | long leg | $625K | $689K | 25x | |
| Gate IREN_USDT | 0.0000% | 8h | 46.860 | +0.021% | $718K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.781 | −0.148% | $191K | $92K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.785 | −0.138% | $5K | $219K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.850 | 0.000% | $829 | $336K | 10x | as long as short |
Bitget IRENUSDT
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 | 46.730 | −0.256% | $9K | $877 | 20x | as long as short |
| Lighter RH IREN | +0.0040% | 1h | 46.872 | +0.047% | $70K | $97K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.790 | −0.128% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0043% | 1h | 46.820 | −0.064% | $1.2M | $1.5M | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0076% | 1h | 46.814 | −0.077% | $3.1M | $2.0M | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.780 | −0.149% | $736K | $264K | 20x | as long as short |
| Paragon para:IRENshort | +0.0200% | 1h | 46.784 | −0.141% | $602K | $177K | 10x | |
| Phoenix IREN | +0.0308% | 1h | 46.770 | −0.171% | $82 | $31K | 10x | as long as short |
HTX IREN-USDT
Lighter RH IREN
Extended IREN_24_5-USD
QFEX IREN-USD
tradeXYZ xyz:IREN
KuCoin IRENUSDTM
Phoenix IREN