Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.5% APRpaid last 24h −0.018%

Price spread now: HTX against Paragon+0.036%7-day average — · you sell dearer than you buy

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

Long on Paragon Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.036% dearer against Paragon than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:IREN	47.233	0.0086	pay 0.0011% / 1h	15m 02s	$607K	$182K	10x
Short	HTX IREN-USDT	47.250	0	get 0.0000% / 8h	3h 15m	$9K	$828	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Paragon. 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 ParagonbpFee HTXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$18.15
Price spread: +0.036% → 0.000%: $3.62
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Paragon: live order book, 1 min ago; HTX: 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 Paragon live order book, 1 min ago	25.31 bp	31.5 bp −$32	42.4 bp −$424	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	47.259	+0.055%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.280	+0.100%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.240	+0.015%	$1.2M	$540K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.320	+0.184%	$651K	$651K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.290	+0.121%	$717K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.264	+0.066%	$2.1M	$497K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.277	+0.093%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.275	+0.089%	$5K	$204K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.280	+0.100%	$1K	$355K	10x	as long as short
HTX IREN-USDTshort	0.0000%	8h	47.250	+0.036%	$9K	$828	20x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.290	+0.121%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0011%	1h	47.180	−0.112%	—	$15K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.200	−0.070%	$4K	$7K	5x	as long as short
Lighter RH IREN	+0.0072%	1h	47.292	+0.125%	$69K	$97K	10x	as long as short
Paragon para:IRENlong	+0.0086%	1h	47.233	long leg	$607K	$182K	10x
KuCoin IRENUSDTM	+0.0100%	8h	47.260	+0.057%	$743K	$229K	20x	as long as short
tradeXYZ xyz:IREN	+0.0155%	1h	47.241	+0.017%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.278	+0.095%	$87	$31K	10x	as long as short