Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0216%/8h= −23.7% APRpaid last 24h −0.012%

Price spread now: Aster against Lighter RH+0.059%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.059% dearer against Lighter RH than usual: you sell high and buy low (spread +0.059% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH IREN	46.791	0.0216	pay 0.0027% / 1h	7m 32s	$70K	$98K	10x
Short	Aster IRENUSDT	46.818	0	get 0.0000% / 8h	7m 32s	$24K	$9K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$45.36
Price spread: +0.059% → 0.000%: $5.87
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$47.49
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter RH: no order-book sample; Aster: 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 Lighter RH no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Lighter RH and Aster: 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	−0.0185%	8h	46.720	−0.152%	$2.1M	$544K	20x	as long as short
Vest IREN-USD-PERP	−0.0003%	1h	46.630	−0.344%	—	$15K	10x	as long as short
Aster IRENUSDTshort	0.0000%	8h	46.818	+0.059%	$24K	$9K	20x
Binance IRENUSDT	0.0000%	8h	46.750	−0.088%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.740	−0.109%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.770	−0.045%	$625K	$656K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.760	−0.066%	$819K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.749	−0.089%	$191K	$92K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.763	−0.059%	$4K	$221K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.750	−0.088%	$920	$332K	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	46.730	−0.130%	$9K	$879	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.680	−0.237%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.740	−0.109%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.723	−0.146%	$601K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.760	−0.066%	$736K	$278K	20x	as long as short
Lighter RH IRENlong	+0.0216%	1h	46.791	long leg	$70K	$98K	10x
tradeXYZ xyz:IREN	+0.0219%	1h	46.730	−0.130%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.788	−0.006%	$84	$31K	10x	as long as short