Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h −0.055%

Price spread now: Vest against Gate−0.063%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 Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Vest is 0.063% cheaper against Gate than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 12 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	47.370	0	get 0.0000% / 8h	3h 39m	$720K	$1.2M	25x
Short	Vest IREN-USD-PERP	47.340	0.0018	get 0.0002% / 1h	39m 48s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.063%Rate

Funding earned: $3.76
Price spread: −0.063% → 0.000%: −$6.33
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Vest: 1 bp × 2 orders: −$2
Net: −$19.57
Costs to cover: 0.170%
Break-even: 43.4 days

Slippage unknown: Gate: live order book, 2 min ago; Vest: 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, 2 min ago	3.16 bp	14.4 bp −$14	48.7 bp −$487	73.6 bp −$7,364	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	47.398	+0.059%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.350	−0.042%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.330	−0.084%	$1.2M	$538K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.350	−0.042%	$659K	$648K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	47.370	long leg	$720K	$1.2M	25x
Bitget IRENUSDT	0.0000%	8h	47.372	+0.004%	$2.1M	$495K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.412	+0.088%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.458	+0.186%	$5K	$198K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	+0.106%	$970	$355K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.370	0.000%	$9K	$819	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.420	+0.106%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERPshort	+0.0018%	1h	47.340	−0.063%	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.394	+0.051%	$68K	$95K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.340	−0.063%	$4K	$7K	5x	as long as short
tradeXYZ xyz:IREN	+0.0061%	1h	47.335	−0.074%	$3.2M	$2.0M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.380	+0.021%	$745K	$224K	20x	as long as short
Paragon para:IREN	+0.0123%	1h	47.310	−0.127%	$608K	$182K	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.440	+0.148%	$84	$31K	10x	as long as short