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 0.000%

Price spread now: OKX against Variational Omni−0.153%7-day average −0.004% · you buy dearer than you sell

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now −0.153%, 7d avg −0.004%

Together, before fees−0.198%+ Points / potential airdropVariational Omni: Active · farm board−$20 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: OKX is 0.149% cheaper against Variational Omni than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	47.373	0	get 0.0000% / 8h	6h 42m	$209K	$87K	—
Short	OKX IREN-USDT-SWAP	47.300	0	get 0.0000% / 8h	6h 42m	$647K	$635K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.153%Rate

Funding earned: $0
Price spread: −0.153% → −0.004%: −$14.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.92
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; OKX: live order book, 23 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, 26 min ago	5.19 bp	doesn't fit	63.4 bp −$634	doesn't fit	doesn't fit
Sell OKX live order book, 23 min ago	4.20 bp	14.2 bp −$14	830.4 bp −$8,304	doesn't fit	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
Aster IRENUSDT	0.0000%	8h	47.484	+0.236%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.320	−0.111%	$1.2M	$527K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	47.300	−0.153%	$647K	$635K	25x
Gate IREN_USDT	0.0000%	8h	47.350	−0.048%	$730K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.323	−0.105%	$2.0M	$437K	20x	as long as short
Variational Omni IRENlong	0.0000%	8h	47.373	long leg	$209K	$87K	—
GRVT IREN_USDT_Perp	0.0000%	8h	47.360	−0.027%	$5K	$180K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.380	+0.015%	$842	$360K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.310	−0.132%	$9K	$750	20x	as long as short
Vest IREN-USD-PERP	+0.0004%	1h	47.270	−0.217%	—	$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	47.350	−0.048%	$1.3M	$1.9M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.305	−0.143%	$4K	$7K	5x	as long as short
Binance IRENUSDT	+0.0041%	8h	47.330	−0.090%	$3.4M	$6.3M	25x	as long as short
Lighter RH IREN	+0.0088%	1h	47.390	+0.037%	$68K	$96K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.360	−0.027%	$744K	$174K	20x	as long as short
tradeXYZ xyz:IREN	+0.0296%	1h	47.321	−0.109%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.372	−0.001%	$83	$31K	10x	as long as short
Paragon para:IREN	+0.0548%	1h	47.300	−0.153%	$600K	$169K	10x	as long as short