Funding you earn now, next payment 02:00 UTC+0.0478%/8h= +52.4% APRpaid last 24h +0.016%
Price spread now: Paragon against Binance+0.042%7-day average −0.083% · you sell dearer than you buy
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$720.724% of the position
Funding, last 7 days+0.078%+$8 on $10k
+Price spread, last 2 days (all we have)−0.138%−$14 · spread now +0.042%, 7d avg −0.083%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Paragon is 0.125% dearer against Binance than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.083%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.078% in total (about 4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance IRENUSDT | 47.250 | 0.0033 | pay 0.0033% / 8h | 6h 36m | $3.4M | $6.3M | 25x |
| Short | Paragon para:IREN | 47.270 | 0.0511 | get 0.0064% / 1h | 36m 56s | $600K | $169K | 10x |
Binance IRENUSDT
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $100.4
- Price spread: +0.042% → −0.083%
- $12.54
- Slippage, 4 orders
- −$52.41
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- $40.54
- Costs to cover
- 0.724%
- Break-even
- 4.2 days
Slippage from Binance: live order book, 2 min ago; Paragon: live order book, 9 min ago.
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, 2 min ago | 2.11 bp | 12.6 bp −$13 | 40.6 bp −$406 | 253.0 bp −$25.3K | doesn't fit |
| Sell Paragon live order book, 9 min ago | 19.54 bp | 24.6 bp −$25 | 41.8 bp −$418 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster IRENUSDT | 0.0000% | 8h | 47.379 | +0.273% | $29K | $4K | 20x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.220 | −0.063% | $1.2M | $527K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.310 | +0.127% | $646K | $636K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.290 | +0.085% | $727K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.240 | −0.021% | $2.0M | $438K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.338 | +0.186% | $209K | $87K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.319 | +0.145% | $4K | $180K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.310 | +0.127% | $927 | $360K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.270 | +0.042% | $9K | $755 | 20x | as long as short |
| Vest IREN-USD-PERP | +0.0004% | 1h | 47.220 | −0.063% | — | $15K | 10x | as long as short |
Aster IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDT
HTX IREN-USDT
Vest IREN-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX IREN-USD | +0.0029% | 1h | 47.280 | +0.063% | $1.3M | $1.9M | 10x | as long as short |
| Binance IRENUSDTlong | +0.0033% | 8h | 47.250 | long leg | $3.4M | $6.3M | 25x | |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.220 | −0.063% | $4K | $7K | 5x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.240 | −0.021% | $742K | $177K | 20x | as long as short |
| Lighter RH IREN | +0.0112% | 1h | 47.308 | +0.123% | $68K | $98K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0232% | 1h | 47.239 | −0.023% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IREN | +0.0353% | 1h | 47.376 | +0.267% | $86 | $31K | 10x | as long as short |
| Paragon para:IRENshort | +0.0511% | 1h | 47.270 | +0.042% | $600K | $169K | 10x |
QFEX IREN-USD
Extended IREN_24_5-USD
KuCoin IRENUSDTM
Lighter RH IREN
tradeXYZ xyz:IREN
Phoenix IREN