Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against OKX+0.084%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$178as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1721.716% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.084%, 7d avg −0.006%

Together, before fees−0.388%−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.090% dearer against OKX than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.400	0	get 0.0000% / 8h	5h 24m	$646K	$620K	25x
Short	SunX IREN-USDT	47.440	0	get 0.0000% / 8h	5h 24m	$945	$358K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.084%Rate

Funding earned: $0
Price spread: +0.084% → −0.006%: $9
Slippage, 4 orders: −$153.56
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$162.57
Costs to cover: 1.716%
Break-even: never at this rate

Slippage from OKX: live order book, 36 min ago; SunX: live order book, 6 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, 36 min ago	5.28 bp	18.6 bp −$19	1470.2 bp −$14.7K	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	48.42 bp	68.6 bp −$69	doesn't fit	doesn't fit	doesn't fit

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	47.525	+0.263%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.455	+0.115%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.420	+0.042%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.400	long leg	$646K	$620K	25x
Gate IREN_USDT	0.0000%	8h	47.450	+0.105%	$720K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.409	+0.019%	$2.0M	$429K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.450	+0.106%	$210K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.455	+0.117%	$4K	$182K	10x	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.440	+0.084%	$945	$358K	10x
HTX IREN-USDT	0.0000%	8h	47.410	+0.021%	$9K	$779	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	+0.0008%	1h	47.360	−0.084%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.440	+0.084%	$1.2M	$1.7M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.477	+0.162%	$69K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.395	−0.011%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.400	0.000%	$609K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.440	+0.084%	$746K	$205K	20x	as long as short
Phoenix IREN	+0.0355%	1h	47.446	+0.097%	$88	$31K	10x	as long as short
tradeXYZ xyz:IREN	+0.0355%	1h	47.437	+0.078%	$3.2M	$1.9M	10x	as long as short