Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.004%

Price spread now: Gate against Vest+0.170%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 Gate

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: Gate is 0.170% dearer against Vest than usual: you sell high and buy low, +$17 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	46.990	−0.0004	get 0.0001% / 1h	8m 11s	—	$15K	10x
Short	Gate IREN_USDT	47.070	0	get 0.0000% / 8h	6h 08m	$812K	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.170%Rate

Funding earned: $0.94
Price spread: +0.170% → 0.000%: $17.02
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $0.97
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	5.31 bp	16.6 bp −$17	64.6 bp −$646	113.8 bp −$11.4K	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 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-PERPlong	−0.0004%	1h	46.990	long leg	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	47.032	+0.089%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.080	+0.192%	$1.2M	$564K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.080	+0.192%	$629K	$660K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.070	+0.170%	$812K	$1.4M	25x
Bitget IRENUSDT	0.0000%	8h	47.049	+0.126%	$2.1M	$646K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.069	+0.169%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.100	+0.234%	$1K	$313K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.070	+0.170%	$9K	$873	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.031	+0.088%	$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
QFEX IREN-USD	+0.0051%	1h	47.040	+0.106%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0056%	1h	47.102	+0.238%	$71K	$97K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.030	+0.085%	$605K	$177K	10x	as long as short
Binance IRENUSDT	+0.0073%	8h	47.090	+0.213%	$3.5M	$6.4M	25x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.060	+0.149%	$744K	$397K	20x	as long as short
tradeXYZ xyz:IREN	+0.0250%	1h	47.059	+0.147%	$3.1M	$2.0M	10x	as long as short
GRVT IREN_USDT_Perp	+0.0258%	8h	47.065	+0.160%	$4K	$232K	10x	as long as short
Phoenix IREN	+0.0307%	1h	47.088	+0.209%	$87	$31K	10x	as long as short