Funding arb · Price arb /

IREN

RWAall IREN markets

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 +0.057%

Price spread now: Binance against Bitget+0.114%7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$730.732% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 2 days (all we have)+0.078%+$8 · spread now +0.114%, 7d avg +0.090%

Together, before fees+0.091%+$9 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: Binance is 0.024% dearer against Bitget than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.090%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.406	0	get 0.0000% / 8h	1h 49m	$2.0M	$532K	20x
Short	Binance IRENUSDT	47.460	0	get 0.0000% / 8h	1h 49m	$3.4M	$6.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.090%: $2.43
Slippage, 4 orders: −$51.25
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$70.82
Costs to cover: 0.732%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Binance: live order book, 4 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 Bitget live order book, 2 min ago	4.32 bp	26.7 bp −$27	44.8 bp −$448	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.05 bp	13.5 bp −$13	47.2 bp −$472	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
Paragon para:IREN	−0.0010%	1h	47.413	+0.016%	$623K	$126K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.433	+0.057%	$29K	$4K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	47.460	+0.114%	$3.4M	$6.7M	25x
Bybit IRENUSDT	0.0000%	8h	47.430	+0.051%	$1.2M	$502K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.430	+0.051%	$662K	$692K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.440	+0.072%	$743K	$1.5M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.406	long leg	$2.0M	$532K	20x
Variational Omni IREN	0.0000%	8h	47.461	+0.116%	$187K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.411	+0.011%	$4K	$203K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.450	+0.093%	$408	$389K	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	47.420	+0.030%	$9K	$689	20x	as long as short
Vest IREN-USD-PERP	+0.0001%	1h	47.350	−0.118%	—	$15K	10x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.440	+0.072%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.390	−0.034%	$4K	$8K	5x	as long as short
Lighter RH IREN	+0.0080%	1h	47.482	+0.160%	$68K	$114K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.420	+0.030%	$752K	$143K	20x	as long as short
tradeXYZ xyz:IREN	+0.0282%	1h	47.442	+0.076%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.470	+0.135%	$83	$38K	10x	as long as short