Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%
Price spread now: Paragon against KuCoin−0.088%50s7-day average −0.057% · you buy dearer than you sell
Net, funding: paid 7d − costs−$150as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1341.338% of the position
Funding, last 7 days−0.166%−$17 on $10k
+Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.088%, 7d avg −0.057%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paragon is 0.031% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.057%). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin IRENUSDTM | 46.850 | 0.0100 | pay 0.0100% / 8h | 30m 54s | $736K | $264K | 20x |
| Short | Paragon para:IREN | 46.809 | 0.0060 | get 0.0008% / 1h | 30m 54s | $602K | $177K | 10x |
KuCoin IRENUSDTM
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.4
- Price spread: −0.088% → −0.057%
- −$3.08
- Slippage, 4 orders
- −$111.85
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$145.33
- Costs to cover
- 1.338%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 33 min ago; Paragon: live order book, 25 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, 33 min ago | 7.48 bp | 37.8 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
| Sell Paragon live order book, 25 min ago | 24.08 bp | 29.4 bp −$29 | 42.8 bp −$428 | 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 | −0.0228% | 8h | 46.826 | −0.051% | $2.1M | $538K | 20x | as long as short |
| Vest IREN-USD-PERP | 0.0000% | 1h | 46.750 | −0.213% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.879 | +0.061% | $24K | $9K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.870 | +0.043% | $3.5M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.830 | −0.043% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.870 | +0.043% | $626K | $689K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.880 | +0.064% | $753K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.861 | +0.023% | $191K | $92K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.885 | +0.076% | $5K | $219K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.880 | +0.064% | $1K | $334K | 10x | as long as short |
Bitget IRENUSDT
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.820 | −0.064% | $9K | $880 | 20x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.810 | −0.085% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0043% | 1h | 46.820 | −0.064% | $1.2M | $1.5M | 10x | as long as short |
| Paragon para:IRENshort | +0.0060% | 1h | 46.809 | −0.088% | $602K | $177K | 10x | |
| Lighter RH IREN | +0.0088% | 1h | 46.889 | +0.083% | $70K | $97K | 10x | as long as short |
| KuCoin IRENUSDTMlong | +0.0100% | 8h | 46.850 | long leg | $736K | $264K | 20x | |
| tradeXYZ xyz:IREN | +0.0155% | 1h | 46.839 | −0.023% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IREN | +0.0308% | 1h | 46.861 | +0.023% | $82 | $31K | 10x | as long as short |
HTX IREN-USDT
Extended IREN_24_5-USD
QFEX IREN-USD
Lighter RH IREN
tradeXYZ xyz:IREN
Phoenix IREN