IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Bitget against KuCoin−0.034%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$202as in the Funding arb table

Net, price: spread back to 7d avg − costs−$171as in the Price arb table

costs, in and out, $10k−$1781.775% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.244%−$24 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now −0.034%, 7d avg −0.096%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.062% dearer against KuCoin than usual: you sell high and buy low (spread −0.034% now, against its 7-day average of −0.096%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	47.400	0.0100	pay 0.0100% / 8h	6h 13m	$745K	$187K	20x
Short	Bitget IRENUSDT	47.384	0	get 0.0000% / 8h	6h 13m	$2.0M	$436K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$21
Price spread: −0.034% → −0.096%: $6.18
Slippage, 4 orders: −$153.51
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$192.33
Costs to cover: 1.775%
Break-even: never at this rate

Slippage from KuCoin: live order book, 25 min ago; Bitget: live order book, 3 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 KuCoin live order book, 25 min ago	14.80 bp	53.0 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.11 bp	23.9 bp −$24	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	47.501	+0.214%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.415	+0.031%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.400	0.000%	$1.2M	$524K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.390	−0.021%	$646K	$634K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.410	+0.021%	$723K	$1.2M	25x	as long as short
Bitget IRENUSDTshort	0.0000%	8h	47.384	−0.034%	$2.0M	$436K	20x
Variational Omni IREN	0.0000%	8h	47.401	+0.003%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.381	−0.040%	$5K	$180K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.410	+0.021%	$1K	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.370	−0.063%	$9K	$761	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	+0.0004%	1h	47.340	−0.127%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.400	0.000%	$1.2M	$1.8M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.430	+0.063%	$69K	$99K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.370	−0.063%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.400	long leg	$745K	$187K	20x
tradeXYZ xyz:IREN	+0.0237%	1h	47.400	0.000%	$3.2M	$1.9M	10x	as long as short
Paragon para:IREN	+0.0246%	1h	47.369	−0.065%	$599K	$172K	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.410	+0.021%	$83	$31K	10x	as long as short