Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0005%/8h= +0.6% APRpaid last 24h +0.004%

Price spread now: Vest against Aster−0.151%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Vest

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Vest: 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: Vest is 0.151% cheaper against Aster than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IRENUSDT	47.332	0	get 0.0000% / 8h	5h 44m	$24K	$9K	20x
Short	Vest IREN-USD-PERP	47.260	0.0005	get 0.0001% / 1h	44m 14s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against Aster. 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 AsterbpFee VestbpOrdersPrice spread, now −0.151%Rate

Funding earned: $1.09
Price spread: −0.151% → 0.000%: −$15.14
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Vest: 1 bp × 2 orders: −$2
Net: −$24.05
Costs to cover: 0.100%
Break-even: 161.2 days

Slippage unknown: Aster: no order-book sample; Vest: 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 Aster no order-book sample	—	—	—	—	—
Sell Vest no order-book sample	—	—	—	—	—

Aster and 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 exchanges

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 IRENUSDTlong	0.0000%	8h	47.332	long leg	$24K	$9K	20x
Bybit IRENUSDT	0.0000%	8h	47.310	−0.046%	$1.2M	$563K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.340	+0.018%	$636K	$673K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	−0.025%	$815K	$1.4M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.297	−0.073%	$2.1M	$649K	20x	as long as short
SunX IREN-USDT	0.0000%	8h	47.320	−0.025%	$1K	$311K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.340	+0.018%	$9K	$874	20x	as long as short
Vest IREN-USD-PERPshort	+0.0005%	1h	47.260	−0.151%	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.355	+0.049%	$71K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.270	−0.130%	$4K	$4K	5x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IREN	+0.0040%	8h	47.358	+0.055%	$185K	$101K	—	as long as short
QFEX IREN-USD	+0.0049%	1h	47.330	−0.004%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.278	−0.114%	$608K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.350	+0.039%	$748K	$419K	20x	as long as short
Binance IRENUSDT	+0.0166%	8h	47.332	0.000%	$3.5M	$6.5M	25x	as long as short
tradeXYZ xyz:IREN	+0.0278%	1h	47.337	+0.011%	$3.2M	$2.1M	10x	as long as short
Phoenix IREN	+0.0321%	1h	47.468	+0.288%	$84	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0520%	8h	47.420	+0.187%	$4K	$234K	10x	as long as short