Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Variational Omni+0.045%7-day average −0.004% · you sell dearer than you buy

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

Long on Variational Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.367%−$37 · spread now +0.045%, 7d avg −0.004%

Together, before fees−0.396%+ Points / potential airdropVariational Omni: Active · farm board−$40 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.049% dearer against Variational Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	46.749	0	get 0.0000% / 8h	7m 42s	$191K	$92K	—
Short	OKX IREN-USDT-SWAP	46.770	0	get 0.0000% / 8h	7m 42s	$625K	$656K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Variational Omni. 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 Variational OmnibpFee OKXbpOrdersPrice spread, now +0.045%Rate

Funding earned: $0
Price spread: +0.045% → −0.004%: $4.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$5.13
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 31 min ago; OKX: live order book, 28 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 Variational Omni RFQ quote, 31 min ago	5.25 bp	doesn't fit	70.2 bp −$702	doesn't fit	doesn't fit
Sell OKX live order book, 28 min ago	4.27 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit

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
Bitget IRENUSDT	−0.0185%	8h	46.720	−0.062%	$2.1M	$544K	20x	as long as short
Vest IREN-USD-PERP	−0.0003%	1h	46.650	−0.212%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.818	+0.146%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.760	+0.023%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.740	−0.020%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	46.770	+0.045%	$625K	$656K	25x
Gate IREN_USDT	0.0000%	8h	46.760	+0.023%	$819K	$1.3M	25x	as long as short
Variational Omni IRENlong	0.0000%	8h	46.749	long leg	$191K	$92K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.763	+0.030%	$4K	$221K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.750	+0.002%	$920	$332K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.730	−0.041%	$9K	$879	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.680	−0.148%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.760	+0.023%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.723	−0.056%	$601K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.760	+0.023%	$736K	$278K	20x	as long as short
Lighter RH IREN	+0.0216%	1h	46.791	+0.090%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0218%	1h	46.726	−0.050%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.788	+0.083%	$85	$31K	10x	as long as short