Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.008%

Price spread now: Vest against SunX−0.189%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.189% cheaper against SunX than usual: you would sell low and buy high (spread −0.189% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 34 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX IREN-USDT	47.610	0	get 0.0000% / 8h	4h 09m	$715	$357K	10x
Short	Vest IREN-USD-PERP	47.520	0.0018	get 0.0002% / 1h	9m 44s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest against SunX. 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 SunXbpFee VestbpOrdersPrice spread, now −0.189%Rate

Funding earned: $3.85
Price spread: −0.189% → 0.000%: −$18.9
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Vest: 1 bp × 2 orders: −$2
Net: −$25.06
Costs to cover: 0.100%
Break-even: 52.6 days

Slippage unknown: SunX: live order book, 11 min ago; Vest: 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 SunX live order book, 11 min ago	48.30 bp	66.3 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	47.643	+0.070%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.630	+0.042%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.600	−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	47.610	0.000%	$726K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.551	−0.124%	$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	47.610	0.000%	$5K	$193K	10x	as long as short
SunX IREN-USDTlong	0.0000%	8h	47.610	long leg	$715	$357K	10x
HTX IREN-USDT	0.0000%	8h	47.580	−0.063%	$9K	$808	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERPshort	+0.0018%	1h	47.520	−0.189%	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.633	+0.048%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.580	−0.063%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.600	−0.021%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.570	−0.084%	$612K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0093%	1h	47.606	−0.008%	$3.2M	$1.9M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.610	0.000%	$749K	$219K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.612	+0.004%	$84	$31K	10x	as long as short