Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.068%

Price spread now: SunX against OKX+0.042%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$164as in the Price arb table

costs, in and out, $10k−$1691.688% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.042%, 7d avg −0.006%

Together, before fees−0.185%−$19 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: SunX is 0.048% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.440	0	get 0.0000% / 8h	17m 22s	$662K	$667K	25x
Short	SunX IREN-USDT	47.460	0	get 0.0000% / 8h	17m 22s	$740	$386K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → −0.006%: $4.82
Slippage, 4 orders: −$150.77
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$163.95
Costs to cover: 1.688%
Break-even: never at this rate

Slippage from OKX: live order book, 59 min ago; SunX: live order book, 43 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, 59 min ago	6.33 bp	16.9 bp −$17	1395.8 bp −$14.0K	doesn't fit	doesn't fit
Sell SunX live order book, 43 min ago	47.43 bp	67.6 bp −$68	doesn't fit	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
Aster IRENUSDT	0.0000%	8h	47.456	+0.033%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.450	+0.021%	$3.5M	$6.5M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.420	−0.042%	$1.2M	$485K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.440	long leg	$662K	$667K	25x
Gate IREN_USDT	0.0000%	8h	47.440	0.000%	$737K	$1.5M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.405	−0.074%	$2.0M	$497K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.444	+0.008%	$208K	$88K	—	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.460	+0.042%	$740	$386K	10x
HTX IREN-USDT	0.0000%	8h	47.420	−0.042%	$9K	$717	20x	as long as short
Vest IREN-USD-PERP	+0.0004%	1h	47.360	−0.169%	—	$15K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT IREN_USDT_Perp	+0.0005%	8h	47.442	+0.004%	$4K	$189K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.475	+0.074%	$68K	$111K	10x	as long as short
QFEX IREN-USD	+0.0032%	1h	47.450	+0.021%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.370	−0.148%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.390	−0.105%	$637K	$147K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.470	+0.063%	$746K	$154K	20x	as long as short
tradeXYZ xyz:IREN	+0.0243%	1h	47.440	0.000%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0388%	1h	47.459	+0.040%	$87	$38K	10x	as long as short