Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against SunX+0.021%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.021% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IREN-USDT	47.350	0	get 0.0000% / 8h	6h 21m	$942	$360K	10x
Short	Extended IREN_24_5-USD	47.360	0.0040	get 0.0005% / 1h	21m 20s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now +0.021%Rate

Funding earned: $8.4
Price spread: +0.021% → 0.000%: $2.11
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$2.49
Costs to cover: 0.130%
Break-even: 9.1 days

Slippage unknown: SunX: live order book, 19 min ago; Extended: no order-book sample. 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 SunX live order book, 19 min ago	48.62 bp	69.4 bp −$69	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	47.499	+0.315%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.370	+0.042%	$1.2M	$523K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.410	+0.127%	$648K	$634K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.380	+0.063%	$724K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.380	+0.063%	$2.0M	$436K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.412	+0.131%	$209K	$84K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.372	+0.047%	$4K	$180K	10x	as long as short
SunX IREN-USDTlong	0.0000%	8h	47.350	long leg	$942	$360K	10x
HTX IREN-USDT	0.0000%	8h	47.250	−0.211%	$9K	$760	20x	as long as short
Vest IREN-USD-PERP	+0.0003%	1h	47.310	−0.084%	—	$15K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IRENUSDT	+0.0009%	8h	47.380	+0.063%	$3.4M	$6.2M	25x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.380	+0.063%	$1.2M	$1.8M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.419	+0.146%	$68K	$99K	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.360	+0.021%	$4K	$7K	5x
KuCoin IRENUSDTM	+0.0100%	8h	47.370	+0.042%	$744K	$184K	20x	as long as short
tradeXYZ xyz:IREN	+0.0259%	1h	47.367	+0.036%	$3.2M	$1.9M	10x	as long as short
Paragon para:IREN	+0.0334%	1h	47.358	+0.016%	$599K	$172K	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.393	+0.091%	$83	$31K	10x	as long as short