Funding you earn now, next payment 23:00 UTC+0.0142%/8h= +15.5% APRnext payment +$0.18 per $10,000 · paid last 24h −0.010%
Price spread now: Phoenix against tradeXYZ+0.019%101s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 101 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:IREN | 47.450 | 0.0246 | pay 0.0031% / 1h | 13m 53s | $3.2M | $1.9M | 10x |
| Short | Phoenix IREN | 47.459 | 0.0388 | get 0.0049% / 1h | 13m 53s | $84 | $38K | 10x |
tradeXYZ xyz:IREN
Phoenix IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $29.8
- Price spread: +0.019% → 0.000%
- $1.9
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $6.7
- Costs to cover
- 0.250%
- Break-even
- 5.4 days
Slippage unknown: tradeXYZ: live order book, 4 min ago; Phoenix: 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, 4 min ago | 2.11 bp | 13.5 bp −$14 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | 47.454 | +0.008% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.471 | +0.045% | $3.5M | $6.5M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.420 | −0.063% | $1.2M | $485K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.440 | −0.021% | $662K | $667K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.470 | +0.042% | $738K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.419 | −0.065% | $2.0M | $497K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.468 | +0.038% | $207K | $88K | — | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.470 | +0.042% | $760 | $385K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.430 | −0.042% | $9K | $718 | 20x | as long as short |
| GRVT IREN_USDT_Perp | +0.0002% | 8h | 47.462 | +0.026% | $4K | $189K | 10x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
SunX IREN-USDT
HTX IREN-USDT
GRVT IREN_USDT_PerpShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | +0.0003% | 1h | 47.360 | −0.190% | — | $15K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.483 | +0.070% | $68K | $111K | 10x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 47.420 | −0.063% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.400 | −0.105% | $4K | $8K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.421 | −0.060% | $637K | $147K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.460 | +0.021% | $746K | $154K | 20x | as long as short |
| tradeXYZ xyz:IRENlong | +0.0246% | 1h | 47.450 | long leg | $3.2M | $1.9M | 10x | |
| Phoenix IRENshort | +0.0388% | 1h | 47.459 | +0.019% | $84 | $38K | 10x |
Vest IREN-USD-PERP
Lighter RH IREN
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
KuCoin IRENUSDTM