Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against HTX+0.125%7-day average — · you sell dearer than you buy

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

Long on HTX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.125% dearer against HTX than usual: you sell high and buy low, +$13 on $10k if it 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	HTX IREN-USDT	46.540	0	get 0.0000% / 8h	7h 17m	$9K	$871	20x
Short	Variational Omni IREN	46.598	0	get 0.0000% / 8h	7h 17m	$181K	$101K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against HTX. 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 HTXbpFee Variational OmnibpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → 0.000%: $12.51
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.51
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: HTX: no order-book sample; Variational Omni: RFQ quote, 17 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 HTX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 17 min ago	3.54 bp	doesn't fit	80.1 bp −$801	doesn't fit	doesn't fit

HTX: 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
Bitget IRENUSDT	−0.0083%	8h	46.702	+0.348%	$2.1M	$654K	20x	as long as short
Vest IREN-USD-PERP	−0.0025%	1h	46.620	+0.172%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.757	+0.466%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.730	+0.408%	$3.5M	$6.4M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.710	+0.365%	$1.2M	$572K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.760	+0.473%	$626K	$668K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.710	+0.365%	$806K	$1.5M	25x	as long as short
Variational Omni IRENshort	0.0000%	8h	46.598	+0.125%	$181K	$101K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.635	+0.204%	$5K	$223K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.690	+0.322%	$838	$325K	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-USDTlong	0.0000%	8h	46.540	long leg	$9K	$871	20x
Lighter RH IREN	+0.0032%	1h	46.743	+0.436%	$70K	$99K	10x	as long as short
Paragon para:IREN	+0.0037%	1h	46.660	+0.258%	$600K	$177K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.560	+0.043%	$4K	$4K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.720	+0.387%	$1.2M	$1.5M	10x	as long as short
tradeXYZ xyz:IREN	+0.0098%	1h	46.688	+0.318%	$3.1M	$2.0M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.670	+0.279%	$738K	$326K	20x	as long as short
Phoenix IREN	+0.0342%	1h	46.651	+0.239%	$88	$31K	10x	as long as short