Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.5% APRpaid last 24h +0.054%

Price spread now: Gate against Vest+0.233%49s7-day average — · you sell dearer than you buy

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

Long on Vest Short on Gate

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 airdropVest: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.233% dearer against Vest than usual: you sell high and buy low, +$23 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 49 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	Vest IREN-USD-PERP	47.300	0.0004	pay 0.0001% / 1h	56m 43s	—	$15K	10x
Short	Gate IREN_USDT	47.410	0	get 0.0000% / 8h	5h 56m	$720K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Vest. 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 VestbpFee GatebpOrdersPrice spread, now +0.233%Rate

Funding earned: −$0.92
Price spread: +0.233% → 0.000%: $23.26
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $5.33
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Gate: live order book, 6 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 Vest no order-book sample	—	—	—	—	—
Sell Gate live order book, 6 min ago	3.16 bp	30.4 bp −$30	82.8 bp −$828	121.5 bp −$12.2K	doesn't fit

Vest: 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	47.505	+0.434%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.439	+0.294%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.420	+0.254%	$1.2M	$523K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.390	+0.190%	$646K	$626K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.410	+0.233%	$720K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.385	+0.180%	$2.0M	$431K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.392	+0.194%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.380	+0.169%	$5K	$180K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.390	+0.190%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.390	+0.190%	$9K	$767	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERPlong	+0.0004%	1h	47.300	long leg	—	$15K	10x
QFEX IREN-USD	+0.0026%	1h	47.400	+0.211%	$1.2M	$1.8M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.370	+0.148%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.380	+0.169%	$609K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.390	+0.190%	$744K	$192K	20x	as long as short
Lighter RH IREN	+0.0160%	1h	47.453	+0.323%	$69K	$96K	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.417	+0.247%	$87	$31K	10x	as long as short
tradeXYZ xyz:IREN	+0.0525%	1h	47.433	+0.281%	$3.2M	$1.9M	10x	as long as short