Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against Aster−0.085%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Extended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.085% cheaper against Aster than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 7.0 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	Aster IRENUSDT	47.740	0	get 0.0000% / 8h	7h 48m	$29K	$4K	20x
Short	Extended IREN_24_5-USD	47.700	0.0040	get 0.0005% / 1h	48m 33s	$4K	$8K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Aster. 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 AsterbpFee ExtendedbpOrdersPrice spread, now −0.085%Rate

Funding earned: $8.4
Price spread: −0.085% → 0.000%: −$8.45
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$13.05
Costs to cover: 0.130%
Break-even: 17.9 days

Slippage unknown: Aster: no order-book sample; Extended: 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 Aster no order-book sample	—	—	—	—	—
Sell Extended no order-book sample	—	—	—	—	—

Aster and Extended: 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 IRENUSDTlong	0.0000%	8h	47.740	long leg	$29K	$4K	20x
Bybit IRENUSDT	0.0000%	8h	47.750	+0.020%	$1.2M	$473K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.760	+0.041%	$662K	$642K	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.695	−0.095%	$2.0M	$442K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.693	−0.100%	$208K	$85K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.680	−0.126%	$933	$367K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.650	−0.189%	$9K	$726	20x	as long as short
Vest IREN-USD-PERP	+0.0002%	1h	47.660	−0.168%	—	$15K	10x	as long as short
Binance IRENUSDT	+0.0029%	8h	47.768	+0.058%	$3.5M	$6.3M	25x	as long as short
Lighter RH IREN	+0.0040%	1h	47.757	+0.035%	$68K	$108K	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-USDshort	+0.0040%	1h	47.700	−0.085%	$4K	$8K	5x
QFEX IREN-USD	+0.0045%	1h	47.750	+0.020%	$1.2M	$2.1M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.673	−0.140%	$641K	$146K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.680	−0.126%	$751K	$157K	20x	as long as short
Gate IREN_USDT	+0.0288%	8h	47.730	−0.022%	$748K	$1.2M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0327%	8h	47.700	−0.085%	$4K	$186K	10x	as long as short
Phoenix IREN	+0.0337%	1h	47.689	−0.108%	$88	$35K	10x	as long as short
tradeXYZ xyz:IREN	+0.0808%	1h	47.725	−0.032%	$3.2M	$1.9M	10x	as long as short