Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h +0.051%

Price spread now: Gate against Extended+0.150%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Gate

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

The price spread pays, funding is against you. Gate is 0.150% dearer against Extended than usual: you sell high and buy low (spread +0.150% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	46.760	0.0040	pay 0.0005% / 1h	17m 52s	$4K	$7K	5x
Short	Gate IREN_USDT	46.830	0	get 0.0000% / 8h	1h 17m	$718K	$1.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Extended. 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 ExtendedbpFee GatebpOrdersPrice spread, now +0.150%Rate

Funding earned: −$8.4
Price spread: +0.150% → 0.000%: $14.97
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$13.43
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Gate: live order book, 4 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 Extended no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	3.20 bp	24.4 bp −$24	79.8 bp −$798	118.6 bp −$11.9K	doesn't fit

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 IRENUSDT	−0.0342%	8h	46.776	+0.034%	$2.1M	$526K	20x	as long as short
Vest IREN-USD-PERP	−0.0004%	1h	46.700	−0.128%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.767	+0.015%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.813	+0.114%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.780	+0.043%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.790	+0.064%	$623K	$691K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	46.830	+0.150%	$718K	$1.2M	25x
Variational Omni IREN	0.0000%	8h	46.792	+0.068%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.769	+0.020%	$5K	$218K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.800	+0.086%	$883	$340K	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	46.760	0.000%	$9K	$869	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.790	+0.064%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USDlong	+0.0040%	1h	46.760	long leg	$4K	$7K	5x
Paragon para:IREN	+0.0060%	1h	46.753	−0.015%	$601K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.770	+0.021%	$735K	$258K	20x	as long as short
Lighter RH IREN	+0.0112%	1h	46.828	+0.145%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0135%	1h	46.770	+0.021%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.830	+0.150%	$87	$31K	10x	as long as short