Funding you earn now, next payment 23:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h +0.027%
Price spread now: KuCoin against Phoenix−0.036%63s7-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 KuCoin is 0.036% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 63 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 | 47.477 | 0.0388 | pay 0.0049% / 1h | 44m 10s | $85 | $38K | 10x |
| Short | KuCoin IRENUSDTM | 47.460 | 0.0100 | get 0.0100% / 8h | 44m 10s | $746K | $155K | 20x |
Phoenix IREN
KuCoin IRENUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$60.49
- Price spread: −0.036% → 0.000%
- −$3.58
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$83.07
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; KuCoin: live order book, 20 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 KuCoin live order book, 20 min ago | 5.27 bp | 45.6 bp −$46 | doesn't fit | 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 | −0.0001% | 1h | 47.360 | −0.246% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 47.433 | −0.093% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.460 | −0.036% | $3.5M | $6.6M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.430 | −0.099% | $1.2M | $497K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.450 | −0.057% | $662K | $682K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.450 | −0.057% | $737K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.411 | −0.139% | $2.0M | $524K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.454 | −0.048% | $207K | $88K | — | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.450 | −0.057% | $1K | $388K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.410 | −0.141% | $9K | $709 | 20x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
SunX IREN-USDT
HTX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT IREN_USDT_Perp | +0.0007% | 8h | 47.452 | −0.052% | $4K | $191K | 10x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 47.450 | −0.057% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.400 | −0.163% | $4K | $8K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.410 | −0.142% | $637K | $147K | 10x | as long as short |
| Lighter RH IREN | +0.0072% | 1h | 47.474 | −0.006% | $68K | $111K | 10x | as long as short |
| KuCoin IRENUSDTMshort | +0.0100% | 8h | 47.460 | −0.036% | $746K | $155K | 20x | |
| tradeXYZ xyz:IREN | +0.0352% | 1h | 47.437 | −0.084% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IRENlong | +0.0388% | 1h | 47.477 | long leg | $85 | $38K | 10x |
GRVT IREN_USDT_Perp
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
Lighter RH IREN
tradeXYZ xyz:IREN