IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0061%/8h= −6.7% APRnext payment −$0.61 per $10,000 · paid last 24h −0.001%

Price spread now: OKX against Binance+0.036%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$690.694% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 2 days (all we have)−0.023%−$2 · spread now +0.036%, 7d avg +0.011%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.024% dearer against Binance than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of +0.011%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.038% in total) that is about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance IRENUSDT	47.593	0.0061	pay 0.0061% / 8h	7h 23m	$3.5M	$6.2M	25x
Short	OKX IREN-USDT-SWAP	47.610	0	get 0.0000% / 8h	7h 23m	$659K	$637K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$12.86
Price spread: +0.036% → +0.011%: $2.44
Slippage, 4 orders: −$49.44
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$79.87
Costs to cover: 0.694%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 47 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, 15 min ago	2.10 bp	10.1 bp −$10	49.3 bp −$493	607.7 bp −$60.8K	doesn't fit
Sell OKX live order book, 47 min ago	7.38 bp	16.8 bp −$17	doesn't fit	doesn't fit	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	47.695	+0.215%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.590	−0.006%	$1.2M	$469K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	47.610	+0.036%	$659K	$637K	25x
Gate IREN_USDT	0.0000%	8h	47.590	−0.006%	$746K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.587	−0.013%	$2.0M	$435K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.697	+0.219%	$209K	$86K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.610	+0.036%	$950	$362K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.580	−0.027%	$9K	$737	20x	as long as short
Vest IREN-USD-PERP	+0.0001%	1h	47.550	−0.090%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.630	+0.078%	$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-USD	+0.0040%	1h	47.555	−0.080%	$4K	$8K	5x	as long as short
QFEX IREN-USD	+0.0045%	1h	47.580	−0.027%	$1.2M	$2.0M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.569	−0.051%	$639K	$146K	10x	as long as short
Binance IRENUSDTlong	+0.0061%	8h	47.593	long leg	$3.5M	$6.2M	25x
KuCoin IRENUSDTM	+0.0100%	8h	47.640	+0.099%	$749K	$163K	20x	as long as short
GRVT IREN_USDT_Perp	+0.0319%	8h	47.720	+0.267%	$5K	$182K	10x	as long as short
Phoenix IREN	+0.0337%	1h	47.690	+0.204%	$87	$35K	10x	as long as short
tradeXYZ xyz:IREN	+0.0503%	1h	47.571	−0.046%	$3.2M	$1.9M	10x	as long as short