Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.010%
Price spread now: QFEX against Paragon+0.042%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$760.755% of the position
Funding, last 4 days (all we have)−0.059%−$6 on $10k
+Price spread, last 4 days (all we have)+0.190%+$19 · spread now +0.042%, 7d avg +0.020%
=The price spread pays, funding is against you. QFEX is 0.022% dearer against Paragon than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.020%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 4 days (−0.059% in total) that is about 32 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:IREN | 47.520 | 0.0060 | pay 0.0008% / 1h | 39m 28s | $611K | $182K | 10x |
| Short | QFEX IREN-USD | 47.540 | 0.0044 | get 0.0005% / 1h | 39m 28s | $1.2M | $1.7M | 10x |
Paragon para:IREN
QFEX IREN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$3.41
- Price spread: +0.042% → +0.020%
- $2.22
- Slippage, 4 orders
- −$55.5
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$76.69
- Costs to cover
- 0.755%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 56 min ago; QFEX: live order book, 7 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 Paragon live order book, 56 min ago | 24.26 bp | 29.6 bp −$30 | 38.1 bp −$381 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 7 min ago | 2.11 bp | 9.3 bp −$9 | 17.5 bp −$175 | 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 | 47.556 | +0.077% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.550 | +0.063% | $3.5M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.530 | +0.021% | $1.2M | $540K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.480 | −0.084% | $645K | $620K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.540 | +0.042% | $724K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.513 | −0.015% | $2.0M | $416K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.541 | +0.045% | $212K | $87K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.553 | +0.068% | $4K | $189K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.540 | +0.042% | $923 | $358K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.500 | −0.042% | $9K | $796 | 20x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDT
HTX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | +0.0013% | 1h | 47.500 | −0.042% | — | $15K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.563 | +0.090% | $69K | $94K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.535 | +0.032% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USDshort | +0.0044% | 1h | 47.540 | +0.042% | $1.2M | $1.7M | 10x | |
| Paragon para:IRENlong | +0.0060% | 1h | 47.520 | long leg | $611K | $182K | 10x | |
| tradeXYZ xyz:IREN | +0.0099% | 1h | 47.562 | +0.088% | $3.2M | $1.9M | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.540 | +0.042% | $747K | $216K | 20x | as long as short |
| Phoenix IREN | +0.0421% | 1h | 47.592 | +0.152% | $85 | $31K | 10x | as long as short |
Vest IREN-USD-PERP
Lighter RH IREN
Extended IREN_24_5-USD
tradeXYZ xyz:IREN
KuCoin IRENUSDTM
Phoenix IREN