Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0009%/8h= −0.9% APRpaid last 24h +0.007%

Price spread now: Vest against OKX−0.255%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Vest is 0.255% cheaper against OKX than usual: you would sell low and buy high, −$26 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	47.030	0	get 0.0000% / 8h	2h 07m	$627K	$692K	25x
Short	Vest IREN-USD-PERP	46.910	−0.0009	pay 0.0001% / 1h	7m 18s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.255%Rate

Funding earned: −$1.81
Price spread: −0.255% → 0.000%: −$25.52
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Vest: 1 bp × 2 orders: −$2
Net: −$39.33
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 39 min ago; Vest: 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 OKX live order book, 39 min ago	4.26 bp	15.2 bp −$15	1433.4 bp −$14.3K	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0375%	8h	46.992	−0.081%	$2.1M	$520K	20x	as long as short
Vest IREN-USD-PERPshort	−0.0009%	1h	46.910	−0.255%	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	47.028	−0.004%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.030	0.000%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.030	0.000%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	47.030	long leg	$627K	$692K	25x
Gate IREN_USDT	0.0000%	8h	47.030	0.000%	$720K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.977	−0.113%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.985	−0.096%	$5K	$210K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.050	+0.043%	$973	$346K	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	46.980	−0.106%	$9K	$850	20x	as long as short
Lighter RH IREN	+0.0040%	1h	47.054	+0.051%	$70K	$98K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.985	−0.096%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	47.030	0.000%	$1.2M	$1.6M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.990	−0.085%	$604K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.010	−0.043%	$740K	$251K	20x	as long as short
tradeXYZ xyz:IREN	+0.0198%	1h	47.015	−0.032%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	46.963	−0.142%	$85	$31K	10x	as long as short