Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.023%

Price spread now: Bitget against Vest+0.041%7-day average — · you sell dearer than you buy

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

Long on Vest Short on Bitget

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.041% dearer against Vest than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest IREN-USD-PERP	46.810	−0.0024	get 0.0003% / 1h	54m 25s	—	$15K	10x
Short	Bitget IRENUSDT	46.829	−0.0024	pay 0.0024% / 8h	6h 54m	$2.1M	$646K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Vest. 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 VestbpFee BitgetbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$0.02
Price spread: +0.041% → 0.000%: $4.06
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$9.96
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bitget: live order book, 3 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 Vest no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	2.87 bp	37.8 bp −$38	68.1 bp −$681	doesn't fit	doesn't fit

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
Bitget IRENUSDTshort	−0.0024%	8h	46.829	+0.041%	$2.1M	$646K	20x
Vest IREN-USD-PERPlong	−0.0024%	1h	46.810	long leg	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	46.863	+0.114%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.850	+0.085%	$1.2M	$573K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.840	+0.064%	$628K	$671K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.860	+0.107%	$809K	$1.4M	25x	as long as short
Variational Omni IREN	0.0000%	8h	47.046	+0.504%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.960	+0.320%	$972	$322K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.020	+0.449%	$9K	$869	20x	as long as short
Lighter RH IREN	+0.0032%	1h	46.946	+0.291%	$70K	$96K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USD	+0.0040%	1h	46.832	+0.047%	$4K	$4K	5x	as long as short
Binance IRENUSDT	+0.0042%	8h	46.879	+0.148%	$3.5M	$6.5M	25x	as long as short
QFEX IREN-USD	+0.0051%	1h	46.840	+0.064%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.903	+0.198%	$603K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.900	+0.192%	$742K	$349K	20x	as long as short
tradeXYZ xyz:IREN	+0.0218%	1h	46.851	+0.088%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.984	+0.372%	$86	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0559%	8h	47.030	+0.470%	$5K	$226K	10x	as long as short