Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0404%/8h= +44.2% APRpaid last 24h +0.012%

Price spread now: Extended against Bitget−0.126%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Extended

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 airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.126% cheaper against Bitget than usual: you would sell low and buy high (spread −0.126% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 25 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	46.694	−0.0364	get 0.0364% / 8h	1h 28m	$2.1M	$525K	20x
Short	Extended IREN_24_5-USD	46.635	0.0040	get 0.0005% / 1h	28m 46s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.126%Rate

Funding earned: $84.84
Price spread: −0.126% → 0.000%: −$12.64
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $55.2
Costs to cover: 0.170%
Break-even: 2.4 days

Slippage unknown: Bitget: live order book, 3 min ago; Extended: 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 Bitget live order book, 3 min ago	1.82 bp	30.5 bp −$30	48.1 bp −$481	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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 IRENUSDTlong	−0.0364%	8h	46.694	long leg	$2.1M	$525K	20x
Vest IREN-USD-PERP	−0.0006%	1h	46.620	−0.158%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.706	+0.025%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.689	−0.010%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.690	−0.009%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.700	+0.013%	$622K	$690K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.740	+0.099%	$716K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.672	−0.047%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.677	−0.037%	$4K	$217K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.660	−0.073%	$880	$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	46.620	−0.158%	$9K	$865	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.740	+0.099%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	46.635	−0.126%	$4K	$7K	5x
Paragon para:IREN	+0.0060%	1h	46.655	−0.083%	$600K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.720	+0.056%	$734K	$255K	20x	as long as short
tradeXYZ xyz:IREN	+0.0133%	1h	46.658	−0.077%	$3.1M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0152%	1h	46.727	+0.071%	$70K	$96K	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.656	−0.081%	$82	$31K	10x	as long as short