IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.63 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against OKX−0.021%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$840.844% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+1.020%+$102 · spread now −0.021%, 7d avg +0.051%

Together, before fees+1.058%+$106 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.072% cheaper against OKX than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.051%). If the spread goes back, that is −$7 on $10k: about 3.8 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.038% in total) that is about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.060	0	get 0.0000% / 8h	6h 15m	$629K	$660K	25x
Short	Binance IRENUSDT	47.050	0.0063	get 0.0063% / 8h	6h 15m	$3.5M	$6.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: $13.17
Price spread: −0.021% → +0.051%: −$7.21
Slippage, 4 orders: −$64.37
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$78.41
Costs to cover: 0.844%
Break-even: 48.7 days

Slippage from OKX: live order book, 34 min ago; Binance: live order book, 1 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 OKX live order book, 34 min ago	4.26 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	2.13 bp	12.9 bp −$13	48.4 bp −$484	148.9 bp −$14.9K	doesn't fit

IREN on 18 exchanges

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
Vest IREN-USD-PERP	−0.0006%	1h	46.940	−0.255%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.004	−0.119%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.040	−0.042%	$1.2M	$563K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.060	long leg	$629K	$660K	25x
Gate IREN_USDT	0.0000%	8h	47.040	−0.042%	$812K	$1.4M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.023	−0.079%	$2.1M	$646K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.060	0.000%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.960	−0.212%	$920	$316K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.030	−0.064%	$9K	$873	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.030	−0.064%	$4K	$4K	5x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0048%	1h	47.088	+0.059%	$71K	$97K	10x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.040	−0.042%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.010	−0.106%	$605K	$177K	10x	as long as short
Binance IRENUSDTshort	+0.0063%	8h	47.050	−0.021%	$3.5M	$6.4M	25x
KuCoin IRENUSDTM	+0.0100%	8h	47.010	−0.106%	$743K	$389K	20x	as long as short
tradeXYZ xyz:IREN	+0.0245%	1h	47.015	−0.096%	$3.1M	$2.0M	10x	as long as short
GRVT IREN_USDT_Perp	+0.0249%	8h	46.996	−0.136%	$5K	$231K	10x	as long as short
Phoenix IREN	+0.0307%	1h	47.001	−0.125%	$82	$31K	10x	as long as short