Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: Gate against Extended+0.175%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread pays, funding is against you. Gate is 0.175% dearer against Extended than usual: you sell high and buy low (spread +0.175% now, against zero (this spread has no 7-day history yet)): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.028	0.0040	pay 0.0005% / 1h	44m 09s	$4K	$4K	5x
Short	Gate IREN_USDT	47.110	0	get 0.0000% / 8h	4h 44m	$807K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.175%Rate

Funding earned: −$8.4
Price spread: +0.175% → 0.000%: $17.5
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$10.9
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Gate: live order book, 1 min ago. 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 Extended no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	7.43 bp	23.1 bp −$23	77.0 bp −$770	124.8 bp −$12.5K	doesn't fit

Extended: 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 exchanges

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	47.099	+0.151%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.080	+0.111%	$1.2M	$547K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.110	+0.175%	$635K	$673K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.110	+0.175%	$807K	$1.3M	25x
Bitget IRENUSDT	0.0000%	8h	47.048	+0.043%	$2.1M	$649K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.038	+0.022%	$183K	$98K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.080	+0.111%	$1K	$288K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.040	+0.026%	$9K	$868	20x	as long as short
Vest IREN-USD-PERP	+0.0012%	1h	47.000	−0.059%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0035%	1h	47.100	+0.154%	$1.2M	$1.5M	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USDlong	+0.0040%	1h	47.028	long leg	$4K	$4K	5x
Paragon para:IREN	+0.0060%	1h	47.085	+0.122%	$606K	$176K	10x	as long as short
Lighter RH IREN	+0.0072%	1h	47.133	+0.224%	$72K	$97K	10x	as long as short
Binance IRENUSDT	+0.0084%	8h	47.120	+0.196%	$3.5M	$6.2M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0091%	8h	47.133	+0.223%	$5K	$243K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.120	+0.196%	$745K	$470K	20x	as long as short
tradeXYZ xyz:IREN	+0.0253%	1h	47.081	+0.113%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0355%	1h	47.058	+0.064%	$84	$31K	10x	as long as short