Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h −0.039%

Price spread now: Vest against Bitget−0.124%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget 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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Vest is 0.124% cheaper against Bitget than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.419	0	get 0.0000% / 8h	14m 04s	$2.0M	$497K	20x
Short	Vest IREN-USD-PERP	47.360	0.0003	get 0.0000% / 1h	14m 04s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.67
Price spread: −0.124% → 0.000%: −$12.44
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$25.77
Costs to cover: 0.140%
Break-even: 275.4 days

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	3.06 bp	25.6 bp −$26	35.6 bp −$356	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	47.453	+0.072%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.474	+0.117%	$3.5M	$6.5M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.420	+0.002%	$1.2M	$485K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.440	+0.044%	$662K	$667K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.460	+0.086%	$738K	$1.5M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.419	long leg	$2.0M	$497K	20x
Variational Omni IREN	0.0000%	8h	47.468	+0.104%	$207K	$88K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.470	+0.108%	$760	$385K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.430	+0.023%	$9K	$718	20x	as long as short
GRVT IREN_USDT_Perp	+0.0002%	8h	47.462	+0.091%	$4K	$189K	10x	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	+0.0003%	1h	47.360	−0.124%	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.483	+0.135%	$68K	$111K	10x	as long as short
QFEX IREN-USD	+0.0032%	1h	47.420	+0.002%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.400	−0.040%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.408	−0.022%	$637K	$147K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.460	+0.086%	$746K	$154K	20x	as long as short
tradeXYZ xyz:IREN	+0.0247%	1h	47.450	+0.065%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0388%	1h	47.459	+0.084%	$84	$38K	10x	as long as short