Funding you earn now, next payment 06:00 UTC−0.0341%/8h= −37.3% APRpaid last 24h −0.105%
Price spread now: OKX against Phoenix−0.028%96s7-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 −$10 a day on $10k at the current rate, and OKX is 0.028% 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 96 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 | 46.813 | 0.0341 | pay 0.0043% / 1h | 1m 59s | $85 | $31K | 10x |
| Short | OKX IREN-USDT-SWAP | 46.800 | 0 | get 0.0000% / 8h | 1h 01m | $625K | $693K | 25x |
Phoenix IREN
OKX IREN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$71.52
- Price spread: −0.028% → 0.000%
- −$2.78
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$91.29
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 39 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 OKX live order book, 39 min ago | 4.28 bp | 22.2 bp −$22 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDT | −0.0307% | 8h | 46.770 | −0.092% | $2.1M | $528K | 20x | as long as short |
| Vest IREN-USD-PERP | −0.0002% | 1h | 46.690 | −0.263% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.770 | −0.093% | $24K | $9K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.790 | −0.049% | $3.5M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.770 | −0.092% | $1.2M | $550K | 25x | as long as short |
| OKX IREN-USDT-SWAPshort | 0.0000% | 8h | 46.800 | −0.028% | $625K | $693K | 25x | |
| Gate IREN_USDT | 0.0000% | 8h | 46.810 | −0.006% | $717K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.832 | +0.040% | $191K | $92K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.810 | −0.006% | $4K | $217K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.800 | −0.028% | $1K | $337K | 10x | as long as short |
Bitget IRENUSDT
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
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 | 46.760 | −0.113% | $9K | $875 | 20x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 46.790 | −0.049% | $1.2M | $1.5M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.750 | −0.135% | $4K | $7K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 46.761 | −0.111% | $602K | $182K | 10x | as long as short |
| Lighter RH IREN | +0.0072% | 1h | 46.810 | −0.006% | $70K | $98K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.780 | −0.070% | $734K | $261K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0132% | 1h | 46.762 | −0.109% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IRENlong | +0.0341% | 1h | 46.813 | long leg | $85 | $31K | 10x |
HTX IREN-USDT
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
Lighter RH IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN