IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0295%/8h= +32.3% APRnext payment +$0.37 per $10,000 · paid last 24h +0.089%

Price spread now: Phoenix against Paragon+0.306%7-day average — · you sell dearer than you buy

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

Long on Paragon Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phoenix is 0.306% dearer against Paragon than usual: you sell high and buy low: +$31 more if the spread 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	Paragon para:IREN	47.025	0.0060	pay 0.0008% / 1h	49m 15s	$605K	$176K	10x
Short	Phoenix IREN	47.169	0.0355	get 0.0044% / 1h	49m 15s	$85	$31K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Paragon. 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 ParagonbpFee PhoenixbpOrdersPrice spread, now +0.306%Rate

Funding earned: $61.93
Price spread: +0.306% → 0.000%: $30.62
Slippage, 4 orders: no order book: not counted
Fee Paragon: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $75.55
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Paragon: live order book, 49 min ago; Phoenix: 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 Paragon live order book, 49 min ago	28.76 bp	33.9 bp −$34	59.6 bp −$596	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 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
Aster IRENUSDT	0.0000%	8h	47.008	−0.036%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.010	−0.032%	$1.2M	$548K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.040	+0.032%	$634K	$672K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.040	+0.032%	$806K	$1.3M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	46.995	−0.064%	$2.1M	$649K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.163	+0.292%	$184K	$98K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.270	+0.521%	$1K	$294K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.150	+0.266%	$9K	$870	20x	as long as short
Vest IREN-USD-PERP	+0.0014%	1h	46.980	−0.096%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.071	+0.098%	$72K	$97K	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0035%	1h	46.990	−0.074%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.000	−0.053%	$4K	$4K	5x	as long as short
Paragon para:IRENlong	+0.0060%	1h	47.025	long leg	$605K	$176K	10x
Binance IRENUSDT	+0.0074%	8h	47.039	+0.029%	$3.5M	$6.3M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0079%	8h	47.190	+0.350%	$5K	$242K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.020	−0.011%	$743K	$466K	20x	as long as short
tradeXYZ xyz:IREN	+0.0171%	1h	47.009	−0.034%	$3.2M	$2.0M	10x	as long as short
Phoenix IRENshort	+0.0355%	1h	47.169	+0.306%	$85	$31K	10x