Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.133%

Price spread now: Bybit against Bitget−0.025%7-day average +0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1401.397% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days+0.136%+$14 · spread now −0.025%, 7d avg +0.073%

Together, before fees+0.199%+$20 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: Bybit is 0.099% cheaper against Bitget than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.382	0	get 0.0000% / 8h	1h 47m	$2.0M	$509K	20x
Short	Bybit IRENUSDT	47.370	0	get 0.0000% / 8h	1h 47m	$1.2M	$501K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now −0.025%Rate

Funding earned: $0
Price spread: −0.025% → +0.073%: −$9.87
Slippage, 4 orders: −$116.66
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$149.52
Costs to cover: 1.397%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Bybit: live order book, 3 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 Bitget live order book, 4 min ago	4.32 bp	26.7 bp −$27	44.8 bp −$448	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	5.27 bp	37.1 bp −$37	139.9 bp −$1,399	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	47.409	+0.057%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.420	+0.080%	$3.4M	$6.7M	25x	as long as short
Bybit IRENUSDTshort	0.0000%	8h	47.370	−0.025%	$1.2M	$501K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.420	+0.080%	$662K	$691K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.400	+0.038%	$742K	$1.5M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.382	long leg	$2.0M	$509K	20x
Variational Omni IREN	0.0000%	8h	47.461	+0.167%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.460	+0.165%	$5K	$200K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.450	+0.144%	$425	$389K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.390	+0.017%	$9K	$691	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-PERP	+0.0001%	1h	47.320	−0.131%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.400	+0.038%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.366	−0.033%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.382	0.000%	$623K	$126K	10x	as long as short
Lighter RH IREN	+0.0080%	1h	47.447	+0.137%	$68K	$114K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.430	+0.101%	$752K	$143K	20x	as long as short
tradeXYZ xyz:IREN	+0.0305%	1h	47.415	+0.070%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.438	+0.118%	$85	$38K	10x	as long as short