Funding you earn now, next payment 07:00 UTC+0.0385%/8h= +42.2% APRpaid last 24h +0.018%
Price spread now: Paragon against Bitget−0.042%46s7-day average +0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1041.042% of the position
Funding, last 7 days+0.081%+$8 on $10k
+Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.042%, 7d avg +0.035%
=Funding pays, the price is against you. Paragon is 0.078% cheaper against Bitget than usual: you would sell low and buy high (spread −0.042% now, against its 7-day average of +0.035%). If the spread goes back, that is −$8 on $10k: about 16 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.081% in total) that is about 6.7 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.081% in total (about 4.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget IRENUSDT | 46.858 | −0.0325 | get 0.0325% / 8h | 1h 51m | $2.1M | $524K | 20x |
| Short | Paragon para:IREN | 46.838 | 0.0060 | get 0.0008% / 1h | 51m 57s | $603K | $182K | 10x |
Bitget IRENUSDT
Paragon para:IRENFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paragon against Bitget. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $80.85
- Price spread: −0.042% → +0.035%
- −$7.76
- Slippage, 4 orders
- −$82.19
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Paragon: 5 bp × 2 orders
- −$10
- Net
- −$31.1
- Costs to cover
- 1.042%
- Break-even
- 9.7 days
Slippage from Bitget: live order book, 5 min ago; Paragon: live order book, 14 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, 5 min ago | 2.13 bp | 27.3 bp −$27 | 53.1 bp −$531 | doesn't fit | doesn't fit |
| Sell Paragon live order book, 14 min ago | 21.29 bp | 26.3 bp −$26 | 51.0 bp −$510 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget IRENUSDTlong | −0.0325% | 8h | 46.858 | long leg | $2.1M | $524K | 20x | |
| Vest IREN-USD-PERP | −0.0008% | 1h | 46.770 | −0.188% | — | $15K | 10x | as long as short |
| Aster IRENUSDT | 0.0000% | 8h | 46.876 | +0.039% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 46.854 | −0.008% | $3.4M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 46.840 | −0.038% | $1.2M | $552K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 46.890 | +0.068% | $625K | $688K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 46.880 | +0.047% | $720K | $1.2M | 25x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 46.887 | +0.061% | $191K | $102K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 46.885 | +0.058% | $4K | $213K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 46.880 | +0.047% | $848 | $345K | 10x | as long as short |
Vest IREN-USD-PERP
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX IREN-USDT | 0.0000% | 8h | 46.830 | −0.060% | $9K | $859 | 20x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 46.860 | +0.004% | $1.2M | $1.5M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 46.810 | −0.102% | $4K | $7K | 5x | as long as short |
| Paragon para:IRENshort | +0.0060% | 1h | 46.838 | −0.042% | $603K | $182K | 10x | |
| KuCoin IRENUSDTM | +0.0100% | 8h | 46.880 | +0.047% | $737K | $255K | 20x | as long as short |
| Lighter RH IREN | +0.0288% | 1h | 46.919 | +0.130% | $70K | $96K | 10x | as long as short |
| tradeXYZ xyz:IREN | +0.0292% | 1h | 46.853 | −0.011% | $3.1M | $2.0M | 10x | as long as short |
| Phoenix IREN | +0.0341% | 1h | 46.906 | +0.102% | $83 | $31K | 10x | as long as short |
HTX IREN-USDT
QFEX IREN-USD
Extended IREN_24_5-USD
KuCoin IRENUSDTM
Lighter RH IREN
tradeXYZ xyz:IREN
Phoenix IREN