Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.011%

Price spread now: Extended against Binance−0.127%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.127% cheaper against Binance than usual: you would sell low and buy high (spread −0.127% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IRENUSDT	47.270	0	get 0.0000% / 8h	3h 14m	$3.4M	$6.1M	25x
Short	Extended IREN_24_5-USD	47.210	0.0040	get 0.0005% / 1h	14m 20s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.127%Rate

Funding earned: $8.4
Price spread: −0.127% → 0.000%: −$12.69
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$19.29
Costs to cover: 0.150%
Break-even: 23.1 days

Slippage unknown: Binance: live order book, 9 min ago; Extended: 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 Binance live order book, 9 min ago	1.06 bp	13.9 bp −$14	44.6 bp −$446	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	47.249	−0.044%	$29K	$4K	20x	as long as short
Binance IRENUSDTlong	0.0000%	8h	47.270	long leg	$3.4M	$6.1M	25x
Bybit IRENUSDT	0.0000%	8h	47.240	−0.063%	$1.2M	$539K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.320	+0.106%	$651K	$651K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.270	0.000%	$717K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.264	−0.013%	$2.1M	$497K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.277	+0.014%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.275	+0.011%	$5K	$204K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.280	+0.021%	$1K	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.250	−0.042%	$9K	$828	20x	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	+0.0011%	1h	47.270	0.000%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0011%	1h	47.180	−0.190%	—	$15K	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.210	−0.127%	$4K	$7K	5x
Lighter RH IREN	+0.0064%	1h	47.293	+0.049%	$69K	$97K	10x	as long as short
Paragon para:IREN	+0.0080%	1h	47.211	−0.125%	$607K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.250	−0.042%	$743K	$229K	20x	as long as short
tradeXYZ xyz:IREN	+0.0156%	1h	47.241	−0.061%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.278	+0.017%	$87	$31K	10x	as long as short