Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h −0.024%

Price spread now: Vest against KuCoin−0.213%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Vest

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 airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Vest is 0.213% cheaper against KuCoin than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

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 44s	$736K	$264K	20x
Short	Vest IREN-USD-PERP	46.750	0.0000	pay 0.0000% / 1h	30m 44s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.213%Rate

Funding earned: −$21.08
Price spread: −0.213% → 0.000%: −$21.34
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$56.43
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 34 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 KuCoin live order book, 34 min ago	7.48 bp	37.8 bp −$38	doesn't fit	doesn't fit	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
Bitget IRENUSDT	−0.0228%	8h	46.822	−0.060%	$2.1M	$538K	20x	as long as short
Vest IREN-USD-PERPshort	0.0000%	1h	46.750	−0.213%	—	$15K	10x
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	+0.024%	$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

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.820	−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:IREN	+0.0060%	1h	46.809	−0.089%	$602K	$177K	10x	as long as short
Lighter RH IREN	+0.0088%	1h	46.876	+0.055%	$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	46.836	−0.030%	$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