Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0216%/8h= +23.7% APRpaid last 24h +0.012%

Price spread now: Lighter RH against Aster−0.064%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 Lighter RH

What this pair did over the last

the charts below follow

Funding, last 6 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 · Lighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.064% cheaper against Aster than usual: you would sell low and buy high (spread −0.064% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 24 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IRENUSDT	46.834	0	get 0.0000% / 8h	2m 21s	$24K	$9K	20x
Short	Lighter RH IREN	46.804	0.0216	get 0.0027% / 1h	2m 21s	$70K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.064%Rate

Funding earned: $45.36
Price spread: −0.064% → 0.000%: −$6.36
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $31
Costs to cover: 0.080%
Break-even: 2.2 days

Slippage unknown: Aster: no order-book sample; Lighter RH: 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 Lighter RH no order-book sample	—	—	—	—	—

Aster and Lighter RH: 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 IRENUSDT	−0.0181%	8h	46.741	−0.198%	$2.1M	$545K	20x	as long as short
Vest IREN-USD-PERP	−0.0005%	1h	46.650	−0.392%	—	$15K	10x	as long as short
Aster IRENUSDTlong	0.0000%	8h	46.834	long leg	$24K	$9K	20x
Binance IRENUSDT	0.0000%	8h	46.780	−0.115%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.760	−0.158%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.770	−0.136%	$625K	$655K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.770	−0.136%	$819K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.764	−0.150%	$191K	$92K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.766	−0.145%	$4K	$222K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.760	−0.158%	$943	$331K	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	46.740	−0.200%	$9K	$878	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.705	−0.275%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.750	−0.179%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.731	−0.219%	$601K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.780	−0.115%	$736K	$280K	20x	as long as short
Lighter RH IRENshort	+0.0216%	1h	46.804	−0.064%	$70K	$98K	10x
tradeXYZ xyz:IREN	+0.0233%	1h	46.747	−0.185%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.752	−0.175%	$85	$31K	10x	as long as short