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 +0.101%

Price spread now: Gate against Bitget+0.053%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1421.421% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 7 days+0.055%+$5 · spread now +0.053%, 7d avg +0.084%

Together, before fees+0.129%+$13 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 0.032% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.355	0	get 0.0000% / 8h	1h 08m	$2.0M	$497K	20x
Short	Gate IREN_USDT	47.380	0	get 0.0000% / 8h	1h 08m	$740K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.084%: −$3.16
Slippage, 4 orders: −$115.1
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.26
Costs to cover: 1.421%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Gate: 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, 4 min ago	2.54 bp	27.4 bp −$27	48.4 bp −$484	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.22 bp	71.0 bp −$71	99.3 bp −$993	126.2 bp −$12.6K	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
Vest IREN-USD-PERP	−0.0002%	1h	47.300	−0.116%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.395	+0.084%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.407	+0.109%	$3.5M	$6.7M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.370	+0.032%	$1.2M	$498K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.450	+0.201%	$662K	$687K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	47.380	+0.053%	$740K	$1.5M	25x
Bitget IRENUSDTlong	0.0000%	8h	47.355	long leg	$2.0M	$497K	20x
Variational Omni IREN	0.0000%	8h	47.399	+0.092%	$207K	$88K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.429	+0.156%	$5K	$193K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.390	+0.074%	$804	$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	47.360	+0.011%	$9K	$701	20x	as long as short
QFEX IREN-USD	+0.0026%	1h	47.400	+0.095%	$1.2M	$2.1M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.325	−0.063%	$4K	$8K	5x	as long as short
Lighter RH IREN	+0.0056%	1h	47.436	+0.171%	$68K	$114K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.395	+0.085%	$637K	$147K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.410	+0.116%	$753K	$144K	20x	as long as short
tradeXYZ xyz:IREN	+0.0326%	1h	47.388	+0.070%	$3.2M	$1.9M	10x	as long as short
Phoenix IREN	+0.0405%	1h	47.388	+0.070%	$86	$38K	10x	as long as short