Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Bitget−0.021%7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$190as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$1801.803% of the position

Long on Bitget Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 3 days (all we have)+0.055%+$5 · spread now −0.021%, 7d avg +0.083%

Together, before fees−0.038%−$4 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: SunX is 0.104% 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 +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.500	0	get 0.0000% / 8h	6h 58m	$2.0M	$437K	20x
Short	SunX IREN-USDT	47.490	0	get 0.0000% / 8h	6h 58m	$1K	$360K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → +0.083%: −$10.43
Slippage, 4 orders: −$160.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$190.76
Costs to cover: 1.803%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; SunX: live order book, 53 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	5.67 bp	17.4 bp −$17	49.4 bp −$494	doesn't fit	doesn't fit
Sell SunX live order book, 53 min ago	49.25 bp	67.9 bp −$68	doesn't fit	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	47.635	+0.284%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.480	−0.042%	$1.2M	$527K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.500	0.000%	$655K	$633K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.520	+0.042%	$736K	$1.2M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.500	long leg	$2.0M	$437K	20x
Variational Omni IREN	0.0000%	8h	47.602	+0.214%	$210K	$87K	—	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.490	−0.021%	$1K	$360K	10x
HTX IREN-USDT	0.0000%	8h	47.580	+0.168%	$9K	$746	20x	as long as short
Vest IREN-USD-PERP	+0.0003%	1h	47.450	−0.105%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.500	0.000%	$1.2M	$1.9M	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0032%	1h	47.525	+0.053%	$68K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.450	−0.105%	$4K	$8K	5x	as long as short
Binance IRENUSDT	+0.0065%	8h	47.490	−0.021%	$3.5M	$6.2M	25x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.520	+0.042%	$747K	$170K	20x	as long as short
GRVT IREN_USDT_Perp	+0.0103%	8h	47.630	+0.274%	$5K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0195%	1h	47.516	+0.034%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0337%	1h	47.590	+0.189%	$86	$31K	10x	as long as short
Paragon para:IREN	+0.0397%	1h	47.490	−0.021%	$638K	$146K	10x	as long as short