Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.097%

Price spread now: SunX against Variational Omni+0.086%7-day average −0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 3 days (all we have)−0.072%−$7 · spread now +0.086%, 7d avg −0.006%

Together, before fees−0.169%+ Points / potential airdropVariational Omni: Active · farm board−$17 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: SunX is 0.092% dearer against Variational Omni than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	47.439	0	get 0.0000% / 8h	1h 18m	$187K	$68K	—
Short	SunX IREN-USDT	47.480	0	get 0.0000% / 8h	1h 18m	$716	$389K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → −0.006%: $9.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $1.19
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; SunX: live order book, 52 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, 1 min ago	3.50 bp	doesn't fit	78.0 bp −$780	doesn't fit	doesn't fit
Sell SunX live order book, 52 min ago	50.62 bp	72.0 bp −$72	doesn't fit	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
Vest IREN-USD-PERP	−0.0002%	1h	47.330	−0.230%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.415	−0.050%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.410	−0.061%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.410	−0.061%	$1.2M	$498K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.450	+0.023%	$662K	$687K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.400	−0.082%	$740K	$1.5M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.362	−0.162%	$2.0M	$497K	20x	as long as short
Variational Omni IRENlong	0.0000%	8h	47.439	long leg	$187K	$68K	—
GRVT IREN_USDT_Perp	0.0000%	8h	47.438	−0.002%	$5K	$194K	10x	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.480	+0.086%	$716	$389K	10x

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	47.400	−0.082%	$9K	$697	20x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.420	−0.040%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.386	−0.111%	$4K	$8K	5x	as long as short
Lighter RH IREN	+0.0056%	1h	47.448	+0.019%	$68K	$114K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.400	−0.082%	$626K	$142K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.450	+0.023%	$753K	$141K	20x	as long as short
tradeXYZ xyz:IREN	+0.0353%	1h	47.412	−0.057%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.438	−0.002%	$88	$38K	10x	as long as short