IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.74 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Bybit+0.209%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$1021.015% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 7 days−0.325%−$33 · spread now +0.209%, 7d avg −0.069%

Together, before fees−0.388%−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.278% dearer against Bybit than usual: you sell high and buy low (spread +0.209% now, against its 7-day average of −0.069%): +$28 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 7 days (−0.063% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IRENUSDT	46.960	0	get 0.0000% / 8h	2h 47m	$1.2M	$545K	25x
Short	Bitget IRENUSDT	47.058	−0.0074	pay 0.0074% / 8h	2h 47m	$2.1M	$500K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.209%Rate

Funding earned: −$15.54
Price spread: +0.209% → −0.069%: $27.78
Slippage, 4 orders: −$78.53
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$89.29
Costs to cover: 1.015%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Bitget: live order book, 5 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 Bybit live order book, 4 min ago	3.19 bp	22.9 bp −$23	106.7 bp −$1,067	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.55 bp	40.1 bp −$40	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
Bitget IRENUSDTshort	−0.0074%	8h	47.058	+0.209%	$2.1M	$500K	20x
Aster IRENUSDT	0.0000%	8h	46.939	−0.045%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.982	+0.046%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDTlong	0.0000%	8h	46.960	long leg	$1.2M	$545K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	+0.256%	$648K	$652K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.020	+0.128%	$722K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	47.092	+0.281%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.097	+0.291%	$4K	$206K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.020	+0.128%	$857	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.010	+0.106%	$9K	$835	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	+0.0002%	1h	46.900	−0.128%	—	$15K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.950	−0.021%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	47.000	+0.085%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0048%	1h	47.016	+0.119%	$70K	$95K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.975	+0.033%	$604K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.990	+0.064%	$738K	$238K	20x	as long as short
tradeXYZ xyz:IREN	+0.0315%	1h	46.966	+0.013%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	47.060	+0.213%	$82	$31K	10x	as long as short