Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0007%/8h= −0.8% APRpaid last 24h +0.006%

Price spread now: Vest against SunX−0.235%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Vest is 0.235% cheaper against SunX than usual: you would sell low and buy high, −$23 on $10k if it 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	46.880	0	get 0.0000% / 8h	1h 50m	$848	$346K	10x
Short	Vest IREN-USD-PERP	46.770	−0.0007	pay 0.0001% / 1h	50m 22s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.235%Rate

Funding earned: −$1.51
Price spread: −0.235% → 0.000%: −$23.46
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Vest: 1 bp × 2 orders: −$2
Net: −$34.98
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 10 min ago; Vest: 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, 10 min ago	47.88 bp	66.4 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0321%	8h	46.865	−0.032%	$2.1M	$524K	20x	as long as short
Vest IREN-USD-PERPshort	−0.0007%	1h	46.770	−0.235%	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	46.888	+0.017%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.889	+0.020%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.860	−0.043%	$1.2M	$552K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.920	+0.085%	$625K	$689K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.900	+0.043%	$720K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.892	+0.026%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.890	+0.021%	$4K	$213K	10x	as long as short
SunX IREN-USDTlong	0.0000%	8h	46.880	long leg	$848	$346K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.830	−0.107%	$9K	$858	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.870	−0.021%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.820	−0.128%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.833	−0.101%	$602K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.880	0.000%	$737K	$255K	20x	as long as short
tradeXYZ xyz:IREN	+0.0274%	1h	46.857	−0.049%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0304%	1h	46.912	+0.068%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.865	−0.032%	$82	$31K	10x	as long as short