Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: HTX against Extended−0.237%7-day average — · you buy dearer than you sell

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

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.237% cheaper against Extended than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.302	0.0040	pay 0.0005% / 1h	59m 22s	$4K	$4K	5x
Short	HTX IREN-USDT	47.190	0	get 0.0000% / 8h	5h 59m	$9K	$874	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$8.4
Price spread: −0.237% → 0.000%: −$23.68
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$49.08
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; HTX: 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 Extended no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Extended and HTX: 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 exchanges

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
Paragon para:IREN	−0.0277%	1h	47.325	+0.048%	$609K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0002%	1h	47.250	−0.110%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.239	−0.134%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.340	+0.080%	$1.2M	$565K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.330	+0.059%	$633K	$665K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	+0.038%	$814K	$1.4M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.320	+0.038%	$2.1M	$647K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.269	−0.070%	$184K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	47.330	+0.059%	$1K	$312K	10x	as long as short
HTX IREN-USDTshort	0.0000%	8h	47.190	−0.237%	$9K	$874	20x

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USDlong	+0.0040%	1h	47.302	long leg	$4K	$4K	5x
tradeXYZ xyz:IREN	+0.0050%	1h	47.322	+0.042%	$3.1M	$2.0M	10x	as long as short
QFEX IREN-USD	+0.0051%	1h	47.310	+0.017%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0064%	1h	47.424	+0.258%	$71K	$96K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.300	−0.004%	$747K	$404K	20x	as long as short
Binance IRENUSDT	+0.0109%	8h	47.330	+0.059%	$3.5M	$6.5M	25x	as long as short
GRVT IREN_USDT_Perp	+0.0306%	8h	47.262	−0.084%	$4K	$232K	10x	as long as short
Phoenix IREN	+0.0307%	1h	47.288	−0.030%	$88	$31K	10x	as long as short