IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0057%/8h= −6.2% APRnext payment −$0.07 per $10,000 · paid last 24h −0.021%

Price spread now: tradeXYZ against Phoenix+0.134%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on tradeXYZ

What this pair did over the last

the charts below follow

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—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

The price spread pays, funding is against you. tradeXYZ is 0.134% dearer against Phoenix than usual: you sell high and buy low (spread +0.134% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix IREN	46.984	0.0342	pay 0.0043% / 1h	56m 56s	$85	$31K	10x
Short	tradeXYZ xyz:IREN	47.047	0.0286	get 0.0036% / 1h	56m 56s	$3.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee tradeXYZbpOrdersPrice spread, now +0.134%Rate

Funding earned: −$11.88
Price spread: +0.134% → 0.000%: $13.41
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$23.47
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; tradeXYZ: 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 tradeXYZ live order book, 1 min ago	2.45 bp	14.8 bp −$15	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	−0.0032%	8h	47.052	+0.145%	$2.1M	$642K	20x	as long as short
Vest IREN-USD-PERP	−0.0025%	1h	46.910	−0.158%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.972	−0.026%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.060	+0.162%	$1.2M	$573K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	+0.204%	$631K	$673K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.010	+0.055%	$811K	$1.4M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.976	−0.016%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.990	+0.013%	$973	$322K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.030	+0.098%	$9K	$870	20x	as long as short
Binance IRENUSDT	+0.0031%	8h	47.080	+0.204%	$3.5M	$6.5M	25x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0032%	1h	47.049	+0.138%	$70K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.022	+0.082%	$4K	$4K	5x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.010	+0.055%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.940	−0.094%	$604K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.000	+0.034%	$743K	$346K	20x	as long as short
tradeXYZ xyz:IRENshort	+0.0286%	1h	47.047	+0.134%	$3.1M	$2.0M	10x
Phoenix IRENlong	+0.0342%	1h	46.984	long leg	$85	$31K	10x
GRVT IREN_USDT_Perp	+0.0513%	8h	47.000	+0.034%	$5K	$226K	10x	as long as short