Funding you earn now, next payment 05:00 UTC−0.0340%/8h= −37.3% APRpaid last 24h −0.104%
Price spread now: Bybit against Phoenix−0.163%75s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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 against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.163% cheaper against Phoenix than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 75 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 | Phoenix IREN | 46.716 | 0.0340 | pay 0.0043% / 1h | 26m 11s | $82 | $31K | 10x |
| Short | Bybit IRENUSDT | 46.640 | 0 | get 0.0000% / 8h | 2h 26m | $1.2M | $549K | 25x |
Phoenix IREN
Bybit IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phoenix. 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
- −$71.46
- Price spread: −0.163% → 0.000%
- −$16.27
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$105.72
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bybit: live order book, 5 min ago. 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bybit live order book, 5 min ago | 2.14 bp | 25.2 bp −$25 | 121.2 bp −$1,212 | doesn't fit | doesn't fit |
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 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 | −0.0409% | 8h | 46.627 | −0.191% | $2.1M | $518K | 20x | as long as short |
| Vest IREN-USD-PERP | −0.0005% | 1h | 46.520 | −0.420% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.668 | −0.102% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.643 | −0.157% | $3.4M | $6.2M | 25x | as long as short |
| Bybit IRENUSDTshort | 0.0000% | 8h | 46.640 | −0.163% | $1.2M | $549K | 25x | |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.630 | −0.184% | $622K | $686K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.650 | −0.141% | $723K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.652 | −0.136% | $190K | $102K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.730 | +0.029% | $4K | $208K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.670 | −0.098% | $1K | $345K | 10x | as long as short |
Bitget IRENUSDT
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.580 | −0.291% | $9K | $843 | 20x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.595 | −0.259% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0043% | 1h | 46.640 | −0.163% | $1.2M | $1.6M | 10x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 46.624 | −0.197% | $600K | $182K | 10x | as long as short |
| Lighter RH IREN | +0.0088% | 1h | 46.677 | −0.083% | $70K | $98K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.630 | −0.184% | $733K | $246K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0212% | 1h | 46.632 | −0.180% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IRENlong | +0.0340% | 1h | 46.716 | long leg | $82 | $31K | 10x |
HTX IREN-USDT
Extended IREN_24_5-USD
QFEX IREN-USD
Paragon para:IREN
Lighter RH IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN