Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.051%

Price spread now: Extended against Gate−0.117%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Extended

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

Funding pays, the price is against you. Extended is 0.117% cheaper against Gate than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 9.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.120	0	get 0.0000% / 8h	3h 07m	$715K	$1.2M	25x
Short	Extended IREN_24_5-USD	47.065	0.0040	get 0.0005% / 1h	7m 10s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. 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 GatebpFee ExtendedbpOrdersPrice spread, now −0.117%Rate

Funding earned: $8.4
Price spread: −0.117% → 0.000%: −$11.67
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$23.27
Costs to cover: 0.200%
Break-even: 26.4 days

Slippage unknown: Gate: live order book, 5 min ago; Extended: 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 Gate live order book, 5 min ago	2.12 bp	19.6 bp −$20	48.7 bp −$487	74.0 bp −$7,395	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

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	47.115	−0.010%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.119	−0.002%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.100	−0.042%	$1.2M	$539K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.110	−0.021%	$647K	$649K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.120	long leg	$715K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.081	−0.083%	$2.1M	$499K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.146	+0.056%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.110	−0.021%	$4K	$204K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.130	+0.021%	$978	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.070	−0.106%	$9K	$830	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	+0.0009%	1h	47.010	−0.233%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0011%	1h	47.110	−0.021%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	47.065	−0.117%	$4K	$7K	5x
Lighter RH IREN	+0.0056%	1h	47.126	+0.013%	$69K	$97K	10x	as long as short
Paragon para:IREN	+0.0070%	1h	47.090	−0.064%	$605K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.080	−0.085%	$740K	$231K	20x	as long as short
tradeXYZ xyz:IREN	+0.0164%	1h	47.095	−0.053%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.109	−0.023%	$85	$31K	10x	as long as short