Funding you earn now, next payment 04:00 UTC−0.0275%/8h= −30.1% APRnext payment −$0.34 per $10,000 · paid last 24h −0.095%
Price spread now: QFEX against Phoenix−0.222%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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 −$8 a day on $10k at the current rate, and QFEX is 0.222% cheaper against Phoenix than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix IREN | 47.395 | 0.0286 | pay 0.0036% / 1h | 24m 50s | $87 | $31K | 10x |
| Short | QFEX IREN-USD | 47.290 | 0.0011 | get 0.0001% / 1h | 24m 50s | $1.2M | $1.5M | 10x |
Phoenix IREN
QFEX IREN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$57.78
- Price spread: −0.222% → 0.000%
- −$22.15
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$96.93
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 2 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 QFEX live order book, 2 min ago | 28.53 bp | 35.6 bp −$36 | 43.0 bp −$430 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster IRENUSDT | 0.0000% | 8h | 47.325 | −0.148% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.290 | −0.222% | $3.4M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.270 | −0.264% | $1.2M | $540K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.340 | −0.116% | $653K | $649K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.310 | −0.179% | $718K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.262 | −0.281% | $2.1M | $497K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.306 | −0.187% | $211K | $85K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.380 | −0.032% | $4K | $201K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.300 | −0.200% | $1K | $355K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.360 | −0.074% | $9K | $822 | 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX IREN-USDshort | +0.0011% | 1h | 47.290 | −0.222% | $1.2M | $1.5M | 10x | |
| Vest IREN-USD-PERP | +0.0014% | 1h | 47.210 | −0.390% | — | $15K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.270 | −0.264% | $4K | $7K | 5x | as long as short |
| Lighter RH IREN | +0.0080% | 1h | 47.329 | −0.139% | $68K | $96K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.290 | −0.222% | $743K | $227K | 20x | as long as short |
| Paragon para:IREN | +0.0104% | 1h | 47.253 | −0.300% | $607K | $182K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0155% | 1h | 47.288 | −0.226% | $3.2M | $2.0M | 10x | as long as short |
| Phoenix IRENlong | +0.0286% | 1h | 47.395 | long leg | $87 | $31K | 10x |
Vest IREN-USD-PERP
Extended IREN_24_5-USD
Lighter RH IREN
KuCoin IRENUSDTM
Paragon para:IREN
tradeXYZ xyz:IREN