Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.019%

Price spread now: KuCoin against Lighter RH−0.130%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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$24 on $10k

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

Funding pays, the price is against you. KuCoin is 0.130% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.130% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 6.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH IREN	47.512	0.0032	pay 0.0004% / 1h	21m 19s	$69K	$96K	10x
Short	KuCoin IRENUSDTM	47.450	0.0100	get 0.0100% / 8h	5h 21m	$746K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.130%Rate

Funding earned: $14.28
Price spread: −0.130% → 0.000%: −$13.05
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$10.77
Costs to cover: 0.120%
Break-even: 12.3 days

Slippage unknown: Lighter RH: no order-book sample; KuCoin: live order book, 3 min ago. 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 KuCoin live order book, 3 min ago	9.48 bp	47.8 bp −$48	doesn't fit	doesn't fit	doesn't fit

Lighter RH: 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	47.552	+0.085%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.503	−0.019%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.460	−0.109%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.490	−0.046%	$647K	$621K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.490	−0.046%	$720K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.428	−0.177%	$2.0M	$428K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.450	−0.130%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.461	−0.107%	$4K	$183K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.490	−0.046%	$993	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.470	−0.088%	$9K	$782	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	+0.0009%	1h	47.390	−0.257%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.480	−0.067%	$1.2M	$1.7M	10x	as long as short
Lighter RH IRENlong	+0.0032%	1h	47.512	long leg	$69K	$96K	10x
Extended IREN_24_5-USD	+0.0040%	1h	47.445	−0.141%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.422	−0.190%	$610K	$182K	10x	as long as short
KuCoin IRENUSDTMshort	+0.0100%	8h	47.450	−0.130%	$746K	$206K	20x
Phoenix IREN	+0.0355%	1h	47.454	−0.122%	$85	$31K	10x	as long as short
tradeXYZ xyz:IREN	+0.0358%	1h	47.492	−0.042%	$3.2M	$1.9M	10x	as long as short