Funding you earn now, next payment 03:00 UTC−0.0321%/8h= −35.1% APRpaid last 24h −0.072%
Price spread now: KuCoin against Phoenix−0.086%93s7-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 KuCoin is 0.086% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 93 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 | 47.601 | 0.0421 | pay 0.0053% / 1h | 33m 49s | $87 | $31K | 10x |
| Short | KuCoin IRENUSDTM | 47.560 | 0.0100 | get 0.0100% / 8h | 4h 33m | $748K | $218K | 20x |
Phoenix IREN
KuCoin IRENUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$67.35
- Price spread: −0.086% → 0.000%
- −$8.61
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$94.96
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; KuCoin: live order book, 50 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 KuCoin live order book, 50 min ago | 9.48 bp | 47.8 bp −$48 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster IRENUSDT | 0.0000% | 8h | 47.590 | −0.023% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.587 | −0.030% | $3.5M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.560 | −0.086% | $1.2M | $541K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.480 | −0.254% | $645K | $619K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.560 | −0.086% | $724K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.534 | −0.141% | $2.0M | $417K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.547 | −0.114% | $212K | $87K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.560 | −0.086% | $4K | $190K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.560 | −0.086% | $636 | $358K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.530 | −0.149% | $9K | $799 | 20x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
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 | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | +0.0014% | 1h | 47.510 | −0.191% | — | $15K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.592 | −0.019% | $69K | $94K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.565 | −0.076% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0044% | 1h | 47.550 | −0.107% | $1.2M | $1.6M | 10x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.570 | −0.065% | $612K | $182K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0094% | 1h | 47.595 | −0.013% | $3.2M | $2.0M | 10x | as long as short |
| KuCoin IRENUSDTMshort | +0.0100% | 8h | 47.560 | −0.086% | $748K | $218K | 20x | |
| Phoenix IRENlong | +0.0421% | 1h | 47.601 | long leg | $87 | $31K | 10x |
Vest IREN-USD-PERP
Lighter RH IREN
Extended IREN_24_5-USD
QFEX IREN-USD
Paragon para:IREN
tradeXYZ xyz:IREN