Funding you earn now, next payment 05:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.018%
Price spread now: OKX against Paragon+0.163%54s7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$112as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1011.009% of the position
Funding, last 7 days−0.110%−$11 on $10k
+Price spread, last 4 days (all we have)−0.194%−$19 · spread now +0.163%, 7d avg +0.044%
=The price spread pays, funding is against you. OKX is 0.119% dearer against Paragon than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of +0.044%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 7 days (−0.110% in total) that is about 7.5 days. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paragon para:IREN | 47.253 | 0.0131 | pay 0.0016% / 1h | 36m 52s | $607K | $182K | 10x |
| Short | OKX IREN-USDT-SWAP | 47.330 | 0 | get 0.0000% / 8h | 3h 36m | $653K | $651K | 25x |
Paragon para:IREN
OKX IREN-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Paragon. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$27.53
- Price spread: +0.163% → +0.044%
- $11.86
- Slippage, 4 orders
- −$80.95
- Fee Paragon: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$116.62
- Costs to cover
- 1.009%
- Break-even
- never at this rate
Slippage from Paragon: live order book, 49 min ago; OKX: live order book, 14 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 Paragon live order book, 49 min ago | 21.97 bp | 27.1 bp −$27 | 46.4 bp −$464 | doesn't fit | doesn't fit |
| Sell OKX live order book, 14 min ago | 5.27 bp | 28.3 bp −$28 | 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 | 47.350 | +0.205% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.340 | +0.184% | $3.4M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.310 | +0.121% | $1.2M | $539K | 25x | as long as short |
| OKX IREN-USDT-SWAPshort | 0.0000% | 8h | 47.330 | +0.163% | $653K | $651K | 25x | |
| Gate IREN_USDT | 0.0000% | 8h | 47.330 | +0.163% | $718K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.313 | +0.127% | $2.1M | $497K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.412 | +0.336% | $211K | $85K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.358 | +0.221% | $4K | $199K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.300 | +0.099% | $968 | $354K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.370 | +0.248% | $9K | $818 | 20x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDT
HTX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX IREN-USD | +0.0011% | 1h | 47.300 | +0.099% | $1.2M | $1.5M | 10x | as long as short |
| Vest IREN-USD-PERP | +0.0017% | 1h | 47.220 | −0.070% | — | $15K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.300 | +0.099% | $4K | $7K | 5x | as long as short |
| Lighter RH IREN | +0.0048% | 1h | 47.362 | +0.231% | $68K | $95K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0093% | 1h | 47.321 | +0.144% | $3.2M | $2.0M | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.320 | +0.142% | $743K | $224K | 20x | as long as short |
| Paragon para:IRENlong | +0.0131% | 1h | 47.253 | long leg | $607K | $182K | 10x | |
| Phoenix IREN | +0.0286% | 1h | 47.410 | +0.332% | $86 | $31K | 10x | as long as short |
QFEX IREN-USD
Vest IREN-USD-PERP
Extended IREN_24_5-USD
Lighter RH IREN
tradeXYZ xyz:IREN
KuCoin IRENUSDTM
Phoenix IREN