Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.044%

Price spread now: Gate against Binance−0.042%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$700.705% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 2 days (all we have)+0.078%+$8 · spread now −0.042%, 7d avg −0.008%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.034% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IRENUSDT	47.460	0	get 0.0000% / 8h	1h 45m	$3.4M	$6.7M	25x
Short	Gate IREN_USDT	47.440	0	get 0.0000% / 8h	1h 45m	$743K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Binance. 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 BinancebpFee GatebpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.008%: −$3.41
Slippage, 4 orders: −$45.47
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$73.89
Costs to cover: 0.705%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; Gate: live order book, 2 min ago.

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 Binance live order book, 9 min ago	1.05 bp	12.8 bp −$13	43.7 bp −$437	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	5.27 bp	27.1 bp −$27	75.0 bp −$750	114.9 bp −$11.5K	doesn't fit

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 IRENUSDT	0.0000%	8h	47.435	−0.053%	$29K	$4K	20x	as long as short
Binance IRENUSDTlong	0.0000%	8h	47.460	long leg	$3.4M	$6.7M	25x
Bybit IRENUSDT	0.0000%	8h	47.410	−0.105%	$1.2M	$501K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.420	−0.084%	$662K	$690K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.440	−0.042%	$743K	$1.5M	25x
Bitget IRENUSDT	0.0000%	8h	47.417	−0.091%	$2.0M	$508K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.411	−0.103%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.442	−0.039%	$5K	$200K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	−0.084%	$474	$389K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.390	−0.147%	$9K	$690	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0001%	1h	47.340	−0.253%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.460	0.000%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.388	−0.153%	$4K	$8K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	47.421	−0.081%	$623K	$126K	10x	as long as short
Lighter RH IREN	+0.0088%	1h	47.493	+0.070%	$68K	$114K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.470	+0.021%	$753K	$143K	20x	as long as short
tradeXYZ xyz:IREN	+0.0324%	1h	47.463	+0.006%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.417	−0.091%	$86	$38K	10x	as long as short