Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.149%

Price spread now: SunX against Gate+0.021%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$197as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1801.805% of the position

Long on Gate Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 3 days (all we have)−0.053%−$5 · spread now +0.021%, 7d avg −0.016%

Together, before fees−0.219%−$22 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: SunX is 0.037% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.460	0	get 0.0000% / 8h	14m 23s	$738K	$1.5M	25x
Short	SunX IREN-USDT	47.470	0	get 0.0000% / 8h	14m 23s	$760	$385K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → −0.016%: $3.73
Slippage, 4 orders: −$157.48
Fee Gate: 7.5 bp × 2 orders: −$15
Fee SunX: 4 bp × 2 orders: −$8
Net: −$176.76
Costs to cover: 1.805%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; SunX: live order book, 46 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 Gate live order book, 3 min ago	3.16 bp	15.3 bp −$15	42.0 bp −$420	68.4 bp −$6,843	doesn't fit
Sell SunX live order book, 46 min ago	47.43 bp	67.6 bp −$68	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
Aster IRENUSDT	0.0000%	8h	47.456	−0.009%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.476	+0.034%	$3.5M	$6.5M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.420	−0.084%	$1.2M	$485K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.440	−0.042%	$662K	$667K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.460	long leg	$738K	$1.5M	25x
Bitget IRENUSDT	0.0000%	8h	47.416	−0.093%	$2.0M	$497K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.468	+0.017%	$207K	$88K	—	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.470	+0.021%	$760	$385K	10x
HTX IREN-USDT	0.0000%	8h	47.430	−0.063%	$9K	$718	20x	as long as short
GRVT IREN_USDT_Perp	+0.0002%	8h	47.462	+0.005%	$4K	$189K	10x	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	+0.0003%	1h	47.360	−0.211%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.475	+0.032%	$68K	$111K	10x	as long as short
QFEX IREN-USD	+0.0032%	1h	47.420	−0.084%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.400	−0.126%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.408	−0.109%	$637K	$147K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.460	0.000%	$746K	$154K	20x	as long as short
tradeXYZ xyz:IREN	+0.0247%	1h	47.450	−0.021%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0388%	1h	47.459	−0.002%	$84	$38K	10x	as long as short