Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: SunX against Extended+0.042%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 SunX

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

The price spread pays, funding is against you. SunX is 0.042% dearer against Extended than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended IREN_24_5-USD	47.260	0.0040	pay 0.0005% / 1h	35m 35s	$4K	$7K	5x
Short	SunX IREN-USDT	47.280	0	get 0.0000% / 8h	6h 35m	$926	$361K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$8.4
Price spread: +0.042% → 0.000%: $4.23
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$17.17
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	48.62 bp	71.6 bp −$72	doesn't fit	doesn't fit	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
Aster IRENUSDT	0.0000%	8h	47.399	+0.294%	$29K	$4K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.270	+0.021%	$1.2M	$527K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.310	+0.106%	$646K	$636K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.320	+0.127%	$727K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.265	+0.011%	$2.0M	$438K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.283	+0.048%	$209K	$86K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.319	+0.124%	$4K	$180K	10x	as long as short
SunX IREN-USDTshort	0.0000%	8h	47.280	+0.042%	$926	$361K	10x
HTX IREN-USDT	0.0000%	8h	47.270	+0.021%	$9K	$755	20x	as long as short
Vest IREN-USD-PERP	+0.0004%	1h	47.190	−0.148%	—	$15K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance IRENUSDT	+0.0028%	8h	47.303	+0.091%	$3.4M	$6.3M	25x	as long as short
QFEX IREN-USD	+0.0029%	1h	47.280	+0.042%	$1.3M	$1.9M	10x	as long as short
Extended IREN_24_5-USDlong	+0.0040%	1h	47.260	long leg	$4K	$7K	5x
KuCoin IRENUSDTM	+0.0100%	8h	47.270	+0.021%	$742K	$178K	20x	as long as short
Lighter RH IREN	+0.0104%	1h	47.325	+0.138%	$68K	$99K	10x	as long as short
tradeXYZ xyz:IREN	+0.0243%	1h	47.286	+0.055%	$3.2M	$2.0M	10x	as long as short
Phoenix IREN	+0.0353%	1h	47.376	+0.245%	$86	$31K	10x	as long as short
Paragon para:IREN	+0.0538%	1h	47.253	−0.015%	$597K	$172K	10x	as long as short