Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against SunX−0.017%7-day average +0.006% · you buy dearer than you sell

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.017%, 7d avg +0.006%

Together, before fees+0.100%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.023% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IREN-USDT	47.080	0	get 0.0000% / 8h	3h 00m	$1K	$355K	10x
Short	Variational Omni IREN	47.072	0	get 0.0000% / 8h	3h 00m	$192K	$102K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.006%: −$2.32
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.32
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Variational Omni: RFQ quote, 54 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 SunX live order book, 10 min ago	46.66 bp	65.1 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 54 min ago	5.20 bp	doesn't fit	75.3 bp −$753	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
Aster IRENUSDT	0.0000%	8h	47.087	+0.014%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.050	−0.064%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.020	−0.127%	$1.2M	$544K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	0.000%	$647K	$649K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.070	−0.021%	$720K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.008	−0.153%	$2.1M	$501K	20x	as long as short
Variational Omni IRENshort	0.0000%	8h	47.072	−0.017%	$192K	$102K	—
GRVT IREN_USDT_Perp	0.0000%	8h	47.100	+0.042%	$4K	$204K	10x	as long as short
SunX IREN-USDTlong	0.0000%	8h	47.080	long leg	$1K	$355K	10x
HTX IREN-USDT	0.0000%	8h	47.020	−0.127%	$9K	$833	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0006%	1h	46.970	−0.234%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0011%	1h	47.060	−0.042%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.015	−0.138%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.020	−0.127%	$604K	$182K	10x	as long as short
Lighter RH IREN	+0.0064%	1h	47.096	+0.034%	$69K	$97K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.040	−0.085%	$739K	$234K	20x	as long as short
tradeXYZ xyz:IREN	+0.0177%	1h	47.042	−0.081%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.062	−0.038%	$91	$31K	10x	as long as short