Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.006%

Price spread now: Vest against Bitget−0.188%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 Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.188% cheaper against Bitget than usual: you would sell low and buy high (spread −0.188% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 48 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget IRENUSDT	46.858	−0.0323	get 0.0323% / 8h	1h 51m	$2.1M	$524K	20x
Short	Vest IREN-USD-PERP	46.770	−0.0007	pay 0.0001% / 1h	51m 23s	—	$15K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.188%Rate

Funding earned: $66.3
Price spread: −0.188% → 0.000%: −$18.78
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: $33.52
Costs to cover: 0.140%
Break-even: 3.5 days

Slippage unknown: Bitget: live order book, 1 min ago; Vest: 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, 1 min ago	2.56 bp	16.3 bp −$16	78.8 bp −$788	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	−0.0323%	8h	46.858	long leg	$2.1M	$524K	20x
Vest IREN-USD-PERPshort	−0.0007%	1h	46.770	−0.188%	—	$15K	10x
Aster IRENUSDT	0.0000%	8h	46.885	+0.058%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.875	+0.037%	$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	46.890	+0.068%	$4K	$213K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.880	+0.047%	$848	$345K	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	46.830	−0.060%	$9K	$859	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.870	+0.026%	$1.2M	$1.5M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.825	−0.070%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.818	−0.085%	$602K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.870	+0.026%	$737K	$255K	20x	as long as short
Lighter RH IREN	+0.0264%	1h	46.918	+0.128%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IREN	+0.0278%	1h	46.853	−0.011%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.865	+0.015%	$82	$31K	10x	as long as short