Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.007%

Price spread now: Vest against Binance−0.189%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 Vest

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 pays, the price is against you. Vest is 0.189% cheaper against Binance than usual: you would sell low and buy high (spread −0.189% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 34 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	47.640	0	get 0.0000% / 8h	4h 07m	$3.4M	$6.1M	25x
Short	Vest IREN-USD-PERP	47.550	0.0018	get 0.0002% / 1h	7m 52s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.189%Rate

Funding earned: $3.86
Price spread: −0.189% → 0.000%: −$18.89
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$27.03
Costs to cover: 0.120%
Break-even: 56.0 days

Slippage unknown: Binance: live order book, 16 min ago; 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 Binance live order book, 16 min ago	1.05 bp	11.9 bp −$12	47.1 bp −$471	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

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	47.665	+0.053%	$29K	$4K	20x	as long as short
Binance IRENUSDTlong	0.0000%	8h	47.640	long leg	$3.4M	$6.1M	25x
Bybit IRENUSDT	0.0000%	8h	47.620	−0.042%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.670	+0.063%	$649K	$620K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.630	−0.021%	$727K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.599	−0.086%	$2.0M	$417K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.606	−0.071%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.593	−0.098%	$5K	$193K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.620	−0.042%	$736	$357K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.580	−0.126%	$9K	$807	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-PERPshort	+0.0018%	1h	47.550	−0.189%	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.673	+0.069%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.620	−0.042%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.610	−0.063%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.590	−0.105%	$612K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0094%	1h	47.636	−0.008%	$3.2M	$1.9M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.630	−0.021%	$749K	$220K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.610	−0.063%	$88	$31K	10x	as long as short