Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.018%

Price spread now: KuCoin against Extended+0.095%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.095% dearer against Extended than usual: you sell high and buy low: +$9 more if the spread 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	Extended IREN_24_5-USD	47.565	0.0040	pay 0.0005% / 1h	0m 11s	$4K	$8K	5x
Short	KuCoin IRENUSDTM	47.610	0.0100	get 0.0100% / 8h	7h 00m	$748K	$170K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.095%Rate

Funding earned: $12.6
Price spread: +0.095% → 0.000%: $9.46
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $5.06
Costs to cover: 0.170%
Break-even: 4.2 days

Slippage unknown: Extended: no order-book sample; KuCoin: live order book, 54 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 KuCoin live order book, 54 min ago	5.24 bp	35.2 bp −$35	doesn't fit	doesn't fit	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 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	47.733	+0.352%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.590	+0.053%	$1.2M	$526K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.590	+0.053%	$658K	$632K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.610	+0.095%	$737K	$1.3M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.577	+0.025%	$2.0M	$436K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.602	+0.077%	$210K	$87K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.640	+0.158%	$967	$360K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.580	+0.032%	$9K	$746	20x	as long as short
Vest IREN-USD-PERP	+0.0002%	1h	47.530	−0.074%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.618	+0.111%	$68K	$109K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USDlong	+0.0040%	1h	47.565	long leg	$4K	$8K	5x
QFEX IREN-USD	+0.0045%	1h	47.600	+0.074%	$1.2M	$1.9M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.559	−0.013%	$639K	$146K	10x	as long as short
Binance IRENUSDT	+0.0066%	8h	47.610	+0.095%	$3.5M	$6.2M	25x	as long as short
KuCoin IRENUSDTMshort	+0.0100%	8h	47.610	+0.095%	$748K	$170K	20x
GRVT IREN_USDT_Perp	+0.0105%	8h	47.631	+0.138%	$5K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0335%	1h	47.588	+0.048%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0337%	1h	47.619	+0.114%	$83	$35K	10x	as long as short