Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0237%/8h= −25.9% APRpaid last 24h −0.079%

Price spread now: Aster against tradeXYZ+0.278%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.278% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.278% now, against zero (this spread has no 7-day history yet)): +$28 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IREN	47.291	0.0237	pay 0.0030% / 1h	38m 09s	$3.2M	$1.9M	10x
Short	Aster IRENUSDT	47.422	0	get 0.0000% / 8h	6h 38m	$29K	$4K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.278%Rate

Funding earned: −$49.69
Price spread: +0.278% → 0.000%: $27.77
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.92
Costs to cover: 0.260%
Break-even: from the start

Slippage unknown: tradeXYZ: live order book, 9 min ago; Aster: 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 tradeXYZ live order book, 9 min ago	2.53 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 IRENUSDTshort	0.0000%	8h	47.422	+0.278%	$29K	$4K	20x
Bybit IRENUSDT	0.0000%	8h	47.290	−0.002%	$1.2M	$527K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.310	+0.040%	$646K	$636K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	+0.061%	$727K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.288	−0.006%	$2.0M	$438K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.338	+0.099%	$209K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.360	+0.146%	$5K	$180K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.380	+0.188%	$842	$360K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.270	−0.044%	$9K	$755	20x	as long as short
Vest IREN-USD-PERP	+0.0004%	1h	47.230	−0.129%	—	$15K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0029%	1h	47.300	+0.019%	$1.3M	$1.9M	10x	as long as short
Binance IRENUSDT	+0.0034%	8h	47.310	+0.040%	$3.4M	$6.3M	25x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.290	−0.002%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.290	−0.002%	$743K	$177K	20x	as long as short
Lighter RH IREN	+0.0104%	1h	47.357	+0.140%	$68K	$98K	10x	as long as short
tradeXYZ xyz:IRENlong	+0.0237%	1h	47.291	long leg	$3.2M	$1.9M	10x
Phoenix IREN	+0.0353%	1h	47.376	+0.180%	$84	$31K	10x	as long as short
Paragon para:IREN	+0.0513%	1h	47.280	−0.023%	$600K	$169K	10x	as long as short