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 +0.063%

Price spread now: Gate against Bybit+0.043%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$147as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1481.482% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.043%, 7d avg +0.014%

Together, before fees−0.043%−$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: Gate is 0.029% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit IRENUSDT	46.710	0	get 0.0000% / 8h	1h 26m	$1.2M	$550K	25x
Short	Gate IREN_USDT	46.730	0	get 0.0000% / 8h	1h 26m	$716K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.043%Rate

Funding earned: $0
Price spread: +0.043% → +0.014%: $2.86
Slippage, 4 orders: −$122.16
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.3
Costs to cover: 1.482%
Break-even: never at this rate

Slippage from Bybit: live order book, 9 min ago; Gate: live order book, 1 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, 9 min ago	2.14 bp	26.3 bp −$26	119.6 bp −$1,196	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.35 bp	63.9 bp −$64	91.2 bp −$912	119.5 bp −$11.9K	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 IRENUSDT	−0.0360%	8h	46.708	−0.004%	$2.1M	$525K	20x	as long as short
Vest IREN-USD-PERP	−0.0006%	1h	46.600	−0.235%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.716	+0.014%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.726	+0.034%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDTlong	0.0000%	8h	46.710	long leg	$1.2M	$550K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	46.710	0.000%	$622K	$690K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	46.730	+0.043%	$716K	$1.2M	25x
Variational Omni IREN	0.0000%	8h	46.672	−0.082%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.677	−0.071%	$4K	$217K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.710	0.000%	$881	$342K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.660	−0.107%	$9K	$866	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.680	−0.064%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.650	−0.128%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.657	−0.113%	$600K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.710	0.000%	$733K	$255K	20x	as long as short
tradeXYZ xyz:IREN	+0.0126%	1h	46.687	−0.049%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0136%	1h	46.754	+0.094%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.656	−0.116%	$85	$31K	10x	as long as short