Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.085%

Price spread now: tradeXYZ against Aster−0.053%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 tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.053% cheaper against Aster than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 31 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster IRENUSDT	46.776	0	get 0.0000% / 8h	1h 23m	$24K	$9K	20x
Short	tradeXYZ xyz:IREN	46.751	0.0136	get 0.0017% / 1h	23m 05s	$3.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.053%Rate

Funding earned: $28.61
Price spread: −0.053% → 0.000%: −$5.26
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$2.65
Costs to cover: 0.260%
Break-even: 7.6 days

Slippage unknown: Aster: no order-book sample; tradeXYZ: live order book, 5 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 Aster no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 5 min ago	1.71 bp	15.1 bp −$15	doesn't fit	doesn't fit	doesn't fit

Aster: 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	−0.0354%	8h	46.756	−0.042%	$2.1M	$526K	20x	as long as short
Vest IREN-USD-PERP	−0.0005%	1h	46.650	−0.269%	—	$15K	10x	as long as short
Aster IRENUSDTlong	0.0000%	8h	46.776	long leg	$24K	$9K	20x
Binance IRENUSDT	0.0000%	8h	46.793	+0.038%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.770	−0.012%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.760	−0.033%	$622K	$691K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.780	+0.009%	$717K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.722	−0.115%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.702	−0.157%	$4K	$217K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.760	−0.033%	$882	$342K	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	46.710	−0.140%	$9K	$868	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.750	−0.055%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.740	−0.076%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.701	−0.160%	$601K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.720	−0.119%	$734K	$255K	20x	as long as short
Lighter RH IREN	+0.0136%	1h	46.800	+0.052%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IRENshort	+0.0136%	1h	46.751	−0.053%	$3.1M	$2.0M	10x
Phoenix IREN	+0.0341%	1h	46.675	−0.215%	$83	$31K	10x	as long as short