Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.085%

Price spread now: Extended against Variational Omni−0.030%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

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 airdropVariational Omni: Active · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.030% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	47.399	0	get 0.0000% / 8h	1h 29m	$187K	$68K	—
Short	Extended IREN_24_5-USD	47.385	0.0040	get 0.0005% / 1h	29m 46s	$4K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now −0.030%Rate

Funding earned: $8.4
Price spread: −0.030% → 0.000%: −$2.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.43
Costs to cover: 0.050%
Break-even: 6.6 days

Slippage unknown: Variational Omni: RFQ quote, 54 min ago; Extended: 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 Variational Omni RFQ quote, 54 min ago	6.93 bp	doesn't fit	104.6 bp −$1,046	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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
Vest IREN-USD-PERP	0.0000%	1h	47.330	−0.146%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.422	+0.049%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.406	+0.016%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.400	+0.002%	$1.2M	$498K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.450	+0.107%	$662K	$689K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.400	+0.002%	$742K	$1.5M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.395	−0.009%	$2.0M	$499K	20x	as long as short
Variational Omni IRENlong	0.0000%	8h	47.399	long leg	$187K	$68K	—
GRVT IREN_USDT_Perp	0.0000%	8h	47.450	+0.107%	$4K	$199K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	+0.044%	$588	$389K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	47.350	−0.104%	$9K	$696	20x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.410	+0.023%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.385	−0.030%	$4K	$8K	5x
Paragon para:IREN	+0.0060%	1h	47.385	−0.030%	$623K	$124K	10x	as long as short
Lighter RH IREN	+0.0072%	1h	47.442	+0.091%	$68K	$114K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.430	+0.065%	$751K	$142K	20x	as long as short
tradeXYZ xyz:IREN	+0.0383%	1h	47.430	+0.065%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.489	+0.190%	$85	$38K	10x	as long as short