Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Gate against Binance−0.135%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$970.972% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 7 days+0.143%+$14 · spread now −0.135%, 7d avg −0.024%

Together, before fees+0.229%+$23 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: Gate is 0.111% cheaper against Binance than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IRENUSDT	46.783	0	get 0.0000% / 8h	7h 16m	$3.5M	$6.4M	25x
Short	Gate IREN_USDT	46.720	0	get 0.0000% / 8h	7h 16m	$806K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.135%Rate

Funding earned: $0
Price spread: −0.135% → −0.024%: −$11.11
Slippage, 4 orders: −$72.22
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$108.33
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Gate: live order book, just now.

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, 7 min ago	1.08 bp	14.6 bp −$15	55.2 bp −$552	223.5 bp −$22.3K	doesn't fit
Sell Gate live order book, just now	5.35 bp	47.0 bp −$47	87.2 bp −$872	122.5 bp −$12.3K	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
Bitget IRENUSDT	−0.0083%	8h	46.723	−0.129%	$2.1M	$661K	20x	as long as short
Vest IREN-USD-PERP	−0.0025%	1h	46.620	−0.349%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.760	−0.050%	$24K	$9K	20x	as long as short
Binance IRENUSDTlong	0.0000%	8h	46.783	long leg	$3.5M	$6.4M	25x
Bybit IRENUSDT	0.0000%	8h	46.730	−0.114%	$1.2M	$572K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.820	+0.078%	$626K	$669K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	46.720	−0.135%	$806K	$1.5M	25x
Variational Omni IREN	0.0000%	8h	46.598	−0.396%	$181K	$101K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.635	−0.317%	$5K	$223K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.690	−0.199%	$838	$325K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.540	−0.520%	$9K	$871	20x	as long as short
Lighter RH IREN	+0.0032%	1h	46.743	−0.086%	$70K	$99K	10x	as long as short
Paragon para:IREN	+0.0037%	1h	46.660	−0.264%	$600K	$177K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.560	−0.477%	$4K	$4K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.720	−0.135%	$1.2M	$1.5M	10x	as long as short
tradeXYZ xyz:IREN	+0.0098%	1h	46.688	−0.204%	$3.1M	$2.0M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.680	−0.221%	$738K	$326K	20x	as long as short
Phoenix IREN	+0.0342%	1h	46.651	−0.283%	$88	$31K	10x	as long as short