Funding you earn now, next payment 22:00 UTC−0.0405%/8h= −44.4% APRpaid last 24h +0.079%
Price spread now: Bybit against Phoenix−0.187%86s7-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 −$12 a day on $10k at the current rate, and Bybit is 0.187% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 86 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 | 47.489 | 0.0405 | pay 0.0051% / 1h | 30m 03s | $85 | $38K | 10x |
| Short | Bybit IRENUSDT | 47.400 | 0 | get 0.0000% / 8h | 1h 30m | $1.2M | $498K | 25x |
Phoenix IREN
Bybit IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$85.06
- Price spread: −0.187% → 0.000%
- −$18.74
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$121.8
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago | 2.11 bp | 35.6 bp −$36 | 194.0 bp −$1,940 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | 0.0000% | 1h | 47.330 | −0.335% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 47.423 | −0.139% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.390 | −0.208% | $3.4M | $6.7M | 25x | as long as short |
| Bybit IRENUSDTshort | 0.0000% | 8h | 47.400 | −0.187% | $1.2M | $498K | 25x | |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.450 | −0.082% | $662K | $689K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.400 | −0.187% | $742K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.395 | −0.198% | $2.0M | $499K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.399 | −0.189% | $187K | $68K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.450 | −0.083% | $4K | $199K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.420 | −0.145% | $588 | $389K | 10x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
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 | 47.350 | −0.293% | $9K | $696 | 20x | as long as short |
| QFEX IREN-USD | +0.0026% | 1h | 47.410 | −0.166% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.385 | −0.219% | $4K | $8K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.385 | −0.219% | $623K | $124K | 10x | as long as short |
| Lighter RH IREN | +0.0072% | 1h | 47.442 | −0.099% | $68K | $114K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.430 | −0.124% | $752K | $142K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0385% | 1h | 47.427 | −0.131% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IRENlong | +0.0405% | 1h | 47.489 | long leg | $85 | $38K | 10x |
HTX IREN-USDT
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
Lighter RH IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN