Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.063%

Price spread now: Gate against Variational Omni−0.111%7-day average +0.003% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.111%, 7d avg +0.003%

Together, before fees+0.098%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.114% cheaper against Variational Omni than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	46.802	0	get 0.0000% / 8h	1h 36m	$191K	$102K	—
Short	Gate IREN_USDT	46.750	0	get 0.0000% / 8h	1h 36m	$718K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.111%Rate

Funding earned: $0
Price spread: −0.111% → +0.003%: −$11.35
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.35
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 7 min ago; Gate: live order book, 5 min ago. 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, 7 min ago	6.98 bp	doesn't fit	66.5 bp −$665	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.14 bp	29.1 bp −$29	73.2 bp −$732	119.4 bp −$11.9K	doesn't fit

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	−0.0341%	8h	46.705	−0.207%	$2.1M	$525K	20x	as long as short
Vest IREN-USD-PERP	−0.0007%	1h	46.630	−0.367%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.751	−0.109%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.717	−0.182%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.710	−0.196%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.720	−0.175%	$622K	$688K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	46.750	−0.111%	$718K	$1.2M	25x
Variational Omni IRENlong	0.0000%	8h	46.802	long leg	$191K	$102K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.820	+0.038%	$5K	$215K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.830	+0.060%	$863	$343K	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	46.730	−0.153%	$9K	$863	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.730	−0.153%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.670	−0.282%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.695	−0.229%	$601K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.710	−0.196%	$735K	$258K	20x	as long as short
tradeXYZ xyz:IREN	+0.0220%	1h	46.696	−0.226%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0240%	1h	46.737	−0.138%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.792	−0.021%	$89	$31K	10x	as long as short