Funding you earn now, next payment 07:00 UTC−0.0308%/8h= −33.7% APRpaid last 24h −0.104%
Price spread now: Binance against Phoenix−0.031%95s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Binance is 0.031% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix IREN | 46.864 | 0.0308 | pay 0.0038% / 1h | 37m 53s | $83 | $31K | 10x |
| Short | Binance IRENUSDT | 46.850 | 0 | get 0.0000% / 8h | 37m 53s | $3.5M | $6.2M | 25x |
Phoenix IREN
Binance IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$64.61
- Price spread: −0.031% → 0.000%
- −$3.09
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$84.7
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 15 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 15 min ago | 2.14 bp | 12.6 bp −$13 | 35.0 bp −$350 | 147.9 bp −$14.8K | doesn't fit |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDT | −0.0244% | 8h | 46.808 | −0.119% | $2.1M | $532K | 20x | as long as short |
| Vest IREN-USD-PERP | −0.0001% | 1h | 46.750 | −0.243% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.870 | +0.012% | $24K | $9K | 20x | as long as short |
| Binance IRENUSDTshort | 0.0000% | 8h | 46.850 | −0.031% | $3.5M | $6.2M | 25x | |
| Bybit IRENUSDT | 0.0000% | 8h | 46.810 | −0.115% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.910 | +0.098% | $626K | $690K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.880 | +0.034% | $754K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.911 | +0.100% | $191K | $92K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.900 | +0.077% | $5K | $219K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.890 | +0.055% | $1K | $337K | 10x | as long as short |
Bitget IRENUSDT
Vest IREN-USD-PERP
Aster IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.860 | −0.009% | $9K | $878 | 20x | as long as short |
| Lighter RH IREN | +0.0040% | 1h | 46.859 | −0.011% | $70K | $97K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.795 | −0.147% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0043% | 1h | 46.850 | −0.030% | $1.2M | $1.5M | 10x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 46.838 | −0.056% | $603K | $177K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.850 | −0.030% | $737K | $264K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0140% | 1h | 46.827 | −0.079% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IRENlong | +0.0308% | 1h | 46.864 | long leg | $83 | $31K | 10x |
HTX IREN-USDT
Lighter RH IREN
Extended IREN_24_5-USD
QFEX IREN-USD
Paragon para:IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN