Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0247%/8h= −27.0% APRpaid last 24h −0.083%

Price spread now: HTX against tradeXYZ−0.237%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on HTX

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and HTX is 0.237% cheaper against tradeXYZ than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:IREN	46.841	0.0247	pay 0.0031% / 1h	59m 03s	$3.1M	$2.0M	10x
Short	HTX IREN-USDT	46.730	0	get 0.0000% / 8h	7h 59m	$9K	$878	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$51.83
Price spread: −0.237% → 0.000%: −$23.7
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$105.53
Costs to cover: 0.300%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 9 min ago; HTX: 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	2.03 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	−0.0182%	8h	46.793	−0.102%	$2.1M	$548K	20x	as long as short
Vest IREN-USD-PERP	−0.0004%	1h	46.790	−0.109%	—	$15K	10x	as long as short
Paragon para:IREN	−0.0001%	1h	46.693	−0.317%	$601K	$177K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.897	+0.120%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.861	+0.044%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.840	−0.002%	$1.2M	$557K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.870	+0.062%	$626K	$656K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.800	−0.088%	$822K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.749	−0.197%	$191K	$92K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.750	−0.193%	$5K	$222K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IREN-USDT	0.0000%	8h	46.810	−0.066%	$990	$331K	10x	as long as short
HTX IREN-USDTshort	0.0000%	8h	46.730	−0.237%	$9K	$878	20x
Extended IREN_24_5-USD	+0.0040%	1h	46.705	−0.290%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.790	−0.109%	$1.2M	$1.5M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.780	−0.130%	$737K	$282K	20x	as long as short
tradeXYZ xyz:IRENlong	+0.0247%	1h	46.841	long leg	$3.1M	$2.0M	10x
Phoenix IREN	+0.0308%	1h	46.715	−0.269%	$85	$31K	10x	as long as short
Lighter RH IREN	+0.0320%	1h	46.906	+0.139%	$70K	$96K	10x	as long as short