Settings8H · net · $10k
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Funding arb · Price arb / RWA

IREN

RWAAll IREN markets →
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
Paragonpara:IREN
22.085+0.0158pay 0.0020% / 1h7m 35s$420K$604K10xLong Paragon
SHORT
OKXIREN-USDT-SWAP
22.11500.0000% / 8h7m 35s$742K$2.4M20xShort OKX
Price gap+0.136%
Funding gap−0.0158% /8h

Both sides work against this direction now: funding costs $5 a day on $10k and the gap is 0.030% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding−$45−0.0158% /8h now · paid −0.448% over the last 7D
Price−$3spread +0.136% now, avg +0.166% → −0.030% if it goes back
Costs−$1031.026% of $10k · taker + slippage, in and out
Result−$150−1.50%no points

Price and funding

1h · history
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now+0.136%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

IREN on 24 exchanges

lowest funding first

Before you open

0 ok · 5 to watch
  • Watch: Thin at this size18.6 / 47.0 bp
    At $10k entering OKX costs 47.0 bp, fee and slippage, 2.5× Paragon’s.
  • Note: Margin at max leverage$1,000 + $500
    Paragon 10x, OKX 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ1h / 8h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: −$4.75Long Paragon: 24 payments, −$4.75; short OKX: 3 payments, $0.00.
  • Watch: Gap narrower than usual+0.136% vs +0.166%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Long leg is thinner$420K vs $742K OI
    Paragon sets your exit cost. Check its book before closing.
  • Note: No points program—
    Neither exchange runs points right now.
  • Watch: KYCParagon No · OKX Yes
    Advanced verification before trading, deposits or withdrawals.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned−0.0213%/8h × 21 periods−$44.77
Price spread+0.136% → +0.166% (7d avg)−$3.01
Slippage, 4 orderslive order books−$90.77
Fee Paragon bp × 2 orders−$1.80
Fee OKX bp × 2 orders−$10.00
Net · 7 days · $10k−$150.36
Costs to cover1.026%Break-evennever at this rate
Slippage: Paragon: live order book, 39 min ago; OKX: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGParagon17.6618.6 bp−$1942.7 bp−$427doesn’t fitdoesn’t fit
SELL · SHORTOKX4.5847.0 bp−$47203.2 bp−$2,032doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

IREN news

posts that mention IREN, from every exchange
11-06 17:13PhoenixOtherLast night's earnings on Phoenix: $IREN +18.1% $NET +13.7% $OPEN -17.2% Trade 24/7 on @PhoenixTrade on X ↗
11-06 07:46SoDEXOther🚨 ANTHROPIC'S $1 TRILLION VALUATION: FACING A REALITY CHECK? 🤖📉 🇺🇸 Democrats' midterm victory is shaking up the AI trade as investors fear tighter restrictions on data center construction. 📉 Nasdaq plunged 5.52% in a single session, as investors rushed to sell AI and technology stocks. 🔻 $AVGO (Broadcom): -10.43% 🔻 $NBIS (Nebius): -14.94% 🏗️ The concern? Slower data center construction → Fewer AI chip orders → Slower cloud expansion → Pressure on AI revenue growth and valuations. Microsoft is reportedly reassessing third-party data center projects with Nebius, IREN, and Nscale, while Texas's incoming governor plans to pause new approvals pending legislation until at least mid-2027. With Anthropic's IPO roadshow approaching, investors face a trillion-dollar question: Can Anthropic sustain its sky-high valuation if the infrastructure powering its growth faces delays? 💬 YOUR TURN: WOULD YOU BUY ANTHROPIC AT A $1 TRILLION VALUATION? 🐂 Bullish — AI demand will overcome infrastructure challenges. 🐻 Bearish — Slower growth means valuations need a reset. 👇 Drop your take on Anthropic in the comments! What valuation would make you a buyer? Do you think its IPO will proceed as expected? @sodex_official on X ↗
11-05 16:35PhoenixOtherCloudflare, IREN and Opendoor report earnings after the close today. $NET: analyst consensus is ~$737M in revenue and $0.34 EPS. $IREN: analysts expect ~$223M in revenue. $OPEN: analysts expect ~$1.05B in revenue. Trade all three 24/7 on Phoenix. @PhoenixTrade on X ↗
11-04 17:53LighterListingnew market IREN ($IREN) seen by our collector
11-02 03:49BackpackOtherEarnings & macro to watch for Nov 2–6 ▸ Macro: US midterm elections, BoE decision, Oct jobs report ▸ Earnings: $AAPL $PLTR $AMD $SHOP $SMCI $ANET $UBER $APP $MCD $QCOM $ARM $CRCL $NET $IONQ $SOUN $ABNB $IREN $OKLO $XYZ $AFRM $DKNG Full market calendar → @Backpack on X ↗
10-27 15:07Vest MarketsOtherNeocloud shares are rebounding from an October selloff, with $NBIS up around 9%, $IREN 6% and $CRWV 5%. Nebius CEO Arkady Volozh said customer advances and other instruments should fund its planned gigawatt, alongside a $3.5B Citi facility and $40B+ in commitments. Trade $NBIS and broader AI infrastructure volatility with a Vest Capital funded account and access up to $50k in trading capital. @VestExchange on X ↗