Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.011%

Price spread now: HTX against Lighter RH−0.127%7-day average — · you buy dearer than you sell

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

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.127% cheaper against Lighter RH than usual: you would sell low and buy high (−$13 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	Lighter RH IREN	47.430	0.0032	pay 0.0004% / 1h	13m 28s	$69K	$99K	10x
Short	HTX IREN-USDT	47.370	0	get 0.0000% / 8h	6h 13m	$9K	$761	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$6.72
Price spread: −0.127% → 0.000%: −$12.65
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$31.37
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 53 min ago; HTX: 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 live order book, 53 min ago	5.25 bp	7.4 bp −$7	92.6 bp −$926	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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
Aster IRENUSDT	0.0000%	8h	47.494	+0.135%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.387	−0.090%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.380	−0.105%	$1.2M	$524K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.390	−0.084%	$646K	$634K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.400	−0.063%	$723K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.380	−0.105%	$2.0M	$436K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.401	−0.061%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.405	−0.053%	$4K	$180K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.410	−0.042%	$1K	$358K	10x	as long as short
HTX IREN-USDTshort	0.0000%	8h	47.370	−0.127%	$9K	$761	20x

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	−0.190%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.400	−0.063%	$1.2M	$1.8M	10x	as long as short
Lighter RH IRENlong	+0.0032%	1h	47.430	long leg	$69K	$99K	10x
Extended IREN_24_5-USD	+0.0040%	1h	47.370	−0.127%	$4K	$7K	5x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.380	−0.105%	$745K	$187K	20x	as long as short
tradeXYZ xyz:IREN	+0.0237%	1h	47.372	−0.122%	$3.2M	$1.9M	10x	as long as short
Paragon para:IREN	+0.0246%	1h	47.369	−0.128%	$599K	$172K	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.410	−0.042%	$84	$31K	10x	as long as short