Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0073%/8h= +7.9% APRpaid last 24h +0.082%

Price spread now: tradeXYZ against Bitget−0.017%7-day average +0.060% · you buy dearer than you sell

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

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.315%+$31 on $10k

Price spread, last 7 days+0.138%+$14 · spread now −0.017%, 7d avg +0.060%

Together, before fees+0.453%+ Points / potential airdroptradeXYZ: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.077% cheaper against Bitget than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.060%). If the spread goes back, that is −$8 on $10k: about 3.6 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.315% in total) that is about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	47.289	0	get 0.0000% / 8h	3h 38m	$2.1M	$496K	20x
Short	tradeXYZ xyz:IREN	47.281	0.0073	get 0.0009% / 1h	38m 02s	$3.2M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.017%Rate

Funding earned: $15.25
Price spread: −0.017% → +0.060%: −$7.74
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$22.49
Costs to cover: 0.300%
Break-even: 17.3 days

Slippage unknown: Bitget: live order book, 4 min ago; tradeXYZ: live order book, 10 min ago. 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, 4 min ago	3.38 bp	16.3 bp −$16	30.8 bp −$308	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	2.21 bp	doesn't fit	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	47.342	+0.113%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.290	+0.002%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.270	−0.040%	$1.2M	$539K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.290	+0.002%	$650K	$648K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	+0.066%	$718K	$1.2M	25x	as long as short
Bitget IRENUSDTlong	0.0000%	8h	47.289	long leg	$2.1M	$496K	20x
Variational Omni IREN	0.0000%	8h	47.412	+0.259%	$211K	$85K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.438	+0.316%	$4K	$199K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.420	+0.277%	$970	$354K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.370	+0.171%	$9K	$819	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX IREN-USD	+0.0011%	1h	47.290	+0.002%	$1.2M	$1.5M	10x	as long as short
Vest IREN-USD-PERP	+0.0017%	1h	47.230	−0.125%	—	$15K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.255	−0.072%	$4K	$7K	5x	as long as short
Lighter RH IREN	+0.0048%	1h	47.350	+0.129%	$68K	$95K	10x	as long as short
tradeXYZ xyz:IRENshort	+0.0073%	1h	47.281	−0.017%	$3.2M	$2.0M	10x
KuCoin IRENUSDTM	+0.0100%	8h	47.290	+0.002%	$744K	$224K	20x	as long as short
Paragon para:IREN	+0.0131%	1h	47.280	−0.019%	$608K	$182K	10x	as long as short
Phoenix IREN	+0.0286%	1h	47.410	+0.256%	$85	$31K	10x	as long as short