Funding you earn now, next payment 04:00 UTC−0.0222%/8h= −24.3% APRnext payment −$0.28 per $10,000 · paid last 24h −0.092%
Price spread now: Lighter RH against Phoenix+0.089%75s7-day average — · you sell dearer than you buy
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—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories
The price spread pays, funding is against you. Lighter RH is 0.089% dearer against Phoenix than usual: you sell high and buy low (spread +0.089% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 32 hours. 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 | 47.109 | 0.0286 | pay 0.0036% / 1h | 4m 12s | $84 | $31K | 10x |
| Short | Lighter RH IREN | 47.151 | 0.0064 | get 0.0008% / 1h | 4m 12s | $69K | $97K | 10x |
Phoenix IREN
Lighter RH IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$46.57
- Price spread: +0.089% → 0.000%
- $8.92
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$44.66
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Lighter RH: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Lighter RH no order-book sample | — | — | — | — | — |
Phoenix and Lighter RH: 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 | 47.142 | +0.071% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.126 | +0.036% | $3.4M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.090 | −0.040% | $1.2M | $544K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.080 | −0.062% | $647K | $649K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.100 | −0.019% | $723K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.084 | −0.053% | $2.1M | $500K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.087 | −0.047% | $192K | $102K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.132 | +0.049% | $4K | $204K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.100 | −0.019% | $983 | $356K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.100 | −0.019% | $9K | $832 | 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 | +0.0008% | 1h | 47.000 | −0.231% | — | $15K | 10x | as long as short |
| QFEX IREN-USD | +0.0011% | 1h | 47.080 | −0.062% | $1.2M | $1.5M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.080 | −0.062% | $4K | $7K | 5x | as long as short |
| Lighter RH IRENshort | +0.0064% | 1h | 47.151 | +0.089% | $69K | $97K | 10x | |
| Paragon para:IREN | +0.0064% | 1h | 47.041 | −0.144% | $605K | $182K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.110 | +0.002% | $740K | $233K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0175% | 1h | 47.111 | +0.004% | $3.2M | $2.0M | 10x | as long as short |
| Phoenix IRENlong | +0.0286% | 1h | 47.109 | long leg | $84 | $31K | 10x |
Vest IREN-USD-PERP
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN