Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.022%

Price spread now: tradeXYZ against Gate−0.051%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$129as in the Price arb table

costs, in and out, $10k−$1261.263% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.051%, 7d avg −0.024%

Together, before fees+0.326%+ Points / potential airdroptradeXYZ: Active · farm board+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.028% cheaper against Gate than usual: you would sell low and buy high (spread −0.051% now, against its 7-day average of −0.024%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate IREN_USDT	46.750	0	get 0.0000% / 8h	1h 24m	$716K	$1.2M	25x
Short	tradeXYZ xyz:IREN	46.726	0.0132	get 0.0016% / 1h	24m 08s	$3.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.051%Rate

Funding earned: $27.63
Price spread: −0.051% → −0.024%: −$2.78
Slippage, 4 orders: −$93.26
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$101.41
Costs to cover: 1.263%
Break-even: 32.7 days

Slippage from Gate: live order book, 3 min ago; tradeXYZ: live order book, 4 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, 3 min ago	5.35 bp	34.3 bp −$34	55.1 bp −$551	81.3 bp −$8,127	doesn't fit
Sell tradeXYZ live order book, 4 min ago	1.71 bp	15.1 bp −$15	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
Bitget IRENUSDT	−0.0356%	8h	46.725	−0.053%	$2.1M	$526K	20x	as long as short
Vest IREN-USD-PERP	−0.0005%	1h	46.630	−0.257%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.751	+0.001%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.765	+0.032%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.730	−0.043%	$1.2M	$550K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.720	−0.064%	$622K	$690K	25x	as long as short
Gate IREN_USDTlong	0.0000%	8h	46.750	long leg	$716K	$1.2M	25x
Variational Omni IREN	0.0000%	8h	46.722	−0.060%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.702	−0.102%	$4K	$217K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.710	−0.086%	$881	$342K	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	46.710	−0.086%	$9K	$869	20x	as long as short
QFEX IREN-USD	+0.0032%	1h	46.750	0.000%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.705	−0.096%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.671	−0.169%	$600K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.720	−0.064%	$734K	$255K	20x	as long as short
Lighter RH IREN	+0.0128%	1h	46.770	+0.043%	$70K	$96K	10x	as long as short
tradeXYZ xyz:IRENshort	+0.0132%	1h	46.726	−0.051%	$3.1M	$2.0M	10x
Phoenix IREN	+0.0341%	1h	46.675	−0.160%	$84	$31K	10x	as long as short