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: Variational Omni against Gate−0.082%7-day average −0.003% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.082%, 7d avg −0.003%

Together, before fees+0.094%+ Points / potential airdropVariational Omni: Active · farm board+$9 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: Variational Omni is 0.079% cheaper against Gate than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	46.830	0	get 0.0000% / 8h	1h 17m	$718K	$1.2M	25x
Short	Variational Omni IREN	46.792	0	get 0.0000% / 8h	1h 17m	$191K	$102K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → −0.003%: −$7.87
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.87
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Variational Omni: RFQ quote, 27 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 Gate live order book, 5 min ago	3.20 bp	16.0 bp −$16	45.6 bp −$456	72.2 bp −$7,224	doesn't fit
Sell Variational Omni RFQ quote, 27 min ago	6.98 bp	doesn't fit	55.1 bp −$551	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
Bitget IRENUSDT	−0.0340%	8h	46.782	−0.102%	$2.1M	$526K	20x	as long as short
Vest IREN-USD-PERP	−0.0004%	1h	46.720	−0.235%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.798	−0.069%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.820	−0.021%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.800	−0.064%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.790	−0.085%	$623K	$691K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	46.830	long leg	$718K	$1.2M	25x
Variational Omni IRENshort	0.0000%	8h	46.792	−0.082%	$191K	$102K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.780	−0.108%	$5K	$218K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.800	−0.064%	$883	$340K	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	46.760	−0.149%	$9K	$869	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.800	−0.064%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.755	−0.160%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.759	−0.151%	$602K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.800	−0.064%	$736K	$258K	20x	as long as short
Lighter RH IREN	+0.0112%	1h	46.828	−0.004%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0133%	1h	46.784	−0.098%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.793	−0.079%	$83	$31K	10x	as long as short