Funding arb · Price arb /

IREN

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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 0.000%

Price spread now: Variational Omni against OKX+0.111%7-day average 0.000% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.111%, 7d avg 0.000%

Together, before fees−0.097%+ Points / potential airdropVariational Omni: Active · farm board−$10 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: Variational Omni is 0.112% dearer against OKX than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.110	0	get 0.0000% / 8h	4h 47m	$635K	$673K	25x
Short	Variational Omni IREN	47.163	0	get 0.0000% / 8h	4h 47m	$184K	$98K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.111%Rate

Funding earned: $0
Price spread: +0.111% → 0.000%: $11.16
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.16
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 56 min ago; Variational Omni: RFQ quote, 59 min ago. 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 OKX live order book, 56 min ago	3.17 bp	15.0 bp −$15	1397.7 bp −$14.0K	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 59 min ago	3.50 bp	doesn't fit	58.0 bp −$580	doesn't fit	doesn't fit

IREN on 18 exchanges

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	47.054	−0.118%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.100	−0.021%	$1.2M	$548K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.110	long leg	$635K	$673K	25x
Gate IREN_USDT	0.0000%	8h	47.080	−0.064%	$807K	$1.3M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.107	−0.006%	$2.1M	$649K	20x	as long as short
Variational Omni IRENshort	0.0000%	8h	47.163	+0.111%	$184K	$98K	—
SunX IREN-USDT	0.0000%	8h	47.080	−0.064%	$1K	$292K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.150	+0.085%	$9K	$868	20x	as long as short
Vest IREN-USD-PERP	+0.0013%	1h	47.010	−0.212%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0035%	1h	47.080	−0.064%	$1.2M	$1.5M	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0040%	1h	47.106	−0.008%	$72K	$97K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.052	−0.123%	$4K	$4K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.047	−0.133%	$605K	$176K	10x	as long as short
Binance IRENUSDT	+0.0073%	8h	47.138	+0.060%	$3.5M	$6.2M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0079%	8h	47.190	+0.169%	$5K	$242K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.080	−0.064%	$745K	$468K	20x	as long as short
tradeXYZ xyz:IREN	+0.0204%	1h	47.089	−0.045%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0355%	1h	47.169	+0.125%	$85	$31K	10x	as long as short