Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h −0.081%

Price spread now: OKX against Gate+0.042%7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1031.026% of the position

Long on Gate Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 3 days (all we have)−0.107%−$11 · spread now +0.042%, 7d avg −0.018%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.060% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	47.880	0	get 0.0000% / 8h	4h 23m	$716K	$1.5M	25x
Short	OKX IREN-USDT-SWAP	47.900	0	get 0.0000% / 8h	4h 23m	$667K	$660K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Gate. 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 GatebpFee OKXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → −0.018%: $5.97
Slippage, 4 orders: −$77.58
Fee Gate: 7.5 bp × 2 orders: −$15
Fee OKX: 5 bp × 2 orders: −$10
Net: −$96.61
Costs to cover: 1.026%
Break-even: never at this rate

Slippage from Gate: live order book, 8 min ago; OKX: live order book, 7 min ago.

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 Gate live order book, 8 min ago	7.31 bp	42.7 bp −$43	55.2 bp −$552	78.1 bp −$7,814	doesn't fit
Sell OKX live order book, 7 min ago	2.09 bp	29.5 bp −$30	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	47.892	+0.025%	$28K	$3K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.908	+0.058%	$3.5M	$6.5M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.880	0.000%	$1.2M	$479K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	47.900	+0.042%	$667K	$660K	25x
Gate IREN_USDTlong	0.0000%	8h	47.880	long leg	$716K	$1.5M	25x
Bitget IRENUSDT	0.0000%	8h	47.867	−0.027%	$2.0M	$495K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.855	−0.053%	$189K	$68K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.951	+0.149%	$4K	$192K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.920	+0.084%	$1K	$387K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.870	−0.021%	$9K	$632	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	+0.0031%	1h	47.880	0.000%	$1.2M	$2.0M	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.954	+0.155%	$68K	$108K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.863	−0.036%	$4K	$6K	5x	as long as short
Vest IREN-USD-PERP	+0.0045%	1h	47.820	−0.125%	—	$9K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.858	−0.045%	$629K	$146K	10x	as long as short
tradeXYZ xyz:IREN	+0.0075%	1h	47.893	+0.027%	$3.2M	$1.8M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.910	+0.063%	$747K	$137K	20x	as long as short
Phoenix IREN	+0.0347%	1h	47.944	+0.134%	$87	$38K	10x	as long as short