Funding you earn now, next payment 03:00 UTC−0.0361%/8h= −39.5% APRnext payment −$0.45 per $10,000 · paid last 24h −0.083%
Price spread now: Paragon against Phoenix0.000%103s7-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—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$11 a day on $10k at the current rate. The two prices were read 103 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 | 47.610 | 0.0421 | pay 0.0053% / 1h | 7m 45s | $88 | $31K | 10x |
| Short | Paragon para:IREN | 47.610 | 0.0060 | get 0.0008% / 1h | 7m 45s | $612K | $182K | 10x |
Phoenix IREN
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon 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
- −$75.75
- Price spread: 0.000% → 0.000%
- $0
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$92.75
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Paragon: live order book, 18 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 Paragon live order book, 18 min ago | 21.97 bp | 27.0 bp −$27 | 45.7 bp −$457 | 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 | 47.673 | +0.132% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.640 | +0.063% | $3.4M | $6.1M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.620 | +0.021% | $1.2M | $541K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.670 | +0.126% | $649K | $620K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.630 | +0.042% | $727K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.601 | −0.019% | $2.0M | $417K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.606 | −0.008% | $212K | $87K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.593 | −0.035% | $5K | $193K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.620 | +0.021% | $736 | $357K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.580 | −0.063% | $9K | $807 | 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 | +0.0018% | 1h | 47.550 | −0.126% | — | $15K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.670 | +0.126% | $69K | $94K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.620 | +0.021% | $4K | $7K | 5x | as long as short |
| QFEX IREN-USD | +0.0044% | 1h | 47.610 | 0.000% | $1.2M | $1.5M | 10x | as long as short |
| Paragon para:IRENshort | +0.0060% | 1h | 47.610 | 0.000% | $612K | $182K | 10x | |
| tradeXYZ xyz:IREN | +0.0094% | 1h | 47.633 | +0.048% | $3.2M | $1.9M | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.620 | +0.021% | $749K | $220K | 20x | as long as short |
| Phoenix IRENlong | +0.0421% | 1h | 47.610 | long leg | $88 | $31K | 10x |
Vest IREN-USD-PERP
Lighter RH IREN
Extended IREN_24_5-USD
QFEX IREN-USD
tradeXYZ xyz:IREN
KuCoin IRENUSDTM