IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0028%/8h= +3.0% APRnext payment +$0.03 per $10,000 · paid last 24h +0.009%

Price spread now: Paragon against QFEX−0.095%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$670.673% of the position

Long on QFEX Short on Paragon

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.011%−$1 · spread now −0.095%, 7d avg −0.022%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Paragon is 0.074% cheaper against QFEX than usual: you would sell low and buy high (spread −0.095% now, against its 7-day average of −0.022%). If the spread goes back, that is −$7 on $10k: about 8.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IREN-USD	46.770	0.0032	pay 0.0004% / 1h	40m 38s	$1.2M	$1.5M	10x
Short	Paragon para:IREN	46.725	0.0060	get 0.0008% / 1h	40m 38s	$601K	$182K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against QFEX. 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 QFEXbpFee ParagonbpOrdersPrice spread, now −0.095%Rate

Funding earned: $5.8
Price spread: −0.095% → −0.022%: −$7.36
Slippage, 4 orders: −$47.32
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$68.88
Costs to cover: 0.673%
Break-even: 90.2 days

Slippage from QFEX: live order book, 1 min ago; Paragon: live order book, 25 min ago.

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 QFEX live order book, 1 min ago	2.14 bp	7.1 bp −$7	16.3 bp −$163	doesn't fit	doesn't fit
Sell Paragon live order book, 25 min ago	21.29 bp	26.3 bp −$26	51.0 bp −$510	doesn't fit	doesn't fit

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	−0.0326%	8h	46.747	−0.049%	$2.1M	$522K	20x	as long as short
Vest IREN-USD-PERP	−0.0007%	1h	46.700	−0.150%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.822	+0.111%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.790	+0.043%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.770	0.000%	$1.2M	$549K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.770	0.000%	$624K	$688K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.780	+0.021%	$718K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.802	+0.068%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.850	+0.171%	$4K	$214K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.830	+0.128%	$863	$344K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.700	−0.150%	$9K	$861	20x	as long as short
QFEX IREN-USDlong	+0.0032%	1h	46.770	long leg	$1.2M	$1.5M	10x
Extended IREN_24_5-USD	+0.0040%	1h	46.735	−0.075%	$4K	$7K	5x	as long as short
Paragon para:IRENshort	+0.0060%	1h	46.725	−0.095%	$601K	$182K	10x
KuCoin IRENUSDTM	+0.0100%	8h	46.770	0.000%	$735K	$258K	20x	as long as short
tradeXYZ xyz:IREN	+0.0249%	1h	46.749	−0.045%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0320%	1h	46.803	+0.071%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.843	+0.156%	$85	$31K	10x	as long as short