Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.007%

Price spread now: Vest against OKX−0.148%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.148% cheaper against OKX than usual: you would sell low and buy high (spread −0.148% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 41 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.230	0	get 0.0000% / 8h	3h 18m	$649K	$649K	25x
Short	Vest IREN-USD-PERP	47.160	0.0012	get 0.0002% / 1h	18m 47s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.148%Rate

Funding earned: $2.52
Price spread: −0.148% → 0.000%: −$14.82
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$24.3
Costs to cover: 0.120%
Break-even: 74.5 days

Slippage unknown: OKX: live order book, 32 min ago; Vest: no order-book sample. 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, 32 min ago	5.27 bp	18.6 bp −$19	1230.1 bp −$12.3K	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	47.237	+0.016%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.230	0.000%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.220	−0.021%	$1.2M	$540K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.230	long leg	$649K	$649K	25x
Gate IREN_USDT	0.0000%	8h	47.240	+0.021%	$717K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.203	−0.057%	$2.1M	$498K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.292	+0.131%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.281	+0.107%	$4K	$203K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.260	+0.064%	$1K	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.180	−0.106%	$9K	$826	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.260	+0.064%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERPshort	+0.0012%	1h	47.160	−0.148%	—	$15K	10x
Extended IREN_24_5-USD	+0.0040%	1h	47.180	−0.106%	$4K	$7K	5x	as long as short
Lighter RH IREN	+0.0072%	1h	47.272	+0.089%	$68K	$96K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.230	0.000%	$742K	$228K	20x	as long as short
Paragon para:IREN	+0.0114%	1h	47.234	+0.008%	$607K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0151%	1h	47.216	−0.030%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.244	+0.030%	$83	$31K	10x	as long as short