IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0255%/8h= −27.9% APRnext payment −$0.32 per $10,000 · paid last 24h −0.096%

Price spread now: QFEX against Phoenix+0.083%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, funding is against you. QFEX is 0.083% dearer against Phoenix than usual: you sell high and buy low (spread +0.083% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix IREN	47.001	0.0307	pay 0.0038% / 1h	15m 10s	$82	$31K	10x
Short	QFEX IREN-USD	47.040	0.0051	get 0.0006% / 1h	15m 10s	$1.2M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phoenix. 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 PhoenixbpFee QFEXbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$53.59
Price spread: +0.083% → 0.000%: $8.3
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$62.29
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; QFEX: 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 QFEX live order book, 5 min ago	5.32 bp	10.8 bp −$11	19.7 bp −$197	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 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
Vest IREN-USD-PERP	−0.0006%	1h	46.940	−0.130%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.005	+0.008%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.040	+0.083%	$1.2M	$563K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.060	+0.126%	$629K	$660K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.040	+0.083%	$812K	$1.4M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.026	+0.053%	$2.1M	$646K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.060	+0.125%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.960	−0.087%	$920	$316K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.030	+0.062%	$9K	$873	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.030	+0.062%	$4K	$4K	5x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH IREN	+0.0048%	1h	47.088	+0.185%	$71K	$97K	10x	as long as short
QFEX IREN-USDshort	+0.0051%	1h	47.040	+0.083%	$1.2M	$1.5M	10x
Paragon para:IREN	+0.0060%	1h	47.010	+0.020%	$605K	$177K	10x	as long as short
Binance IRENUSDT	+0.0063%	8h	47.058	+0.122%	$3.5M	$6.4M	25x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.010	+0.019%	$743K	$389K	20x	as long as short
tradeXYZ xyz:IREN	+0.0247%	1h	47.037	+0.077%	$3.1M	$2.0M	10x	as long as short
GRVT IREN_USDT_Perp	+0.0249%	8h	46.996	−0.011%	$5K	$231K	10x	as long as short
Phoenix IRENlong	+0.0307%	1h	47.001	long leg	$82	$31K	10x