Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against HTX+0.128%53s7-day average — · you sell dearer than you buy

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

Long on HTX Short on Binance

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.128% dearer against HTX than usual: you sell high and buy low, +$13 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IREN-USDT	46.760	0	get 0.0000% / 8h	1h 17m	$9K	$869	20x
Short	Binance IRENUSDT	46.820	0	get 0.0000% / 8h	1h 17m	$3.4M	$6.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against HTX. 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 HTXbpFee BinancebpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → 0.000%: $12.83
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$9.17
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: no order-book sample; Binance: live order book, 6 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 HTX no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	2.14 bp	13.2 bp −$13	36.0 bp −$360	148.1 bp −$14.8K	doesn't fit

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 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	−0.0340%	8h	46.782	+0.047%	$2.1M	$526K	20x	as long as short
Vest IREN-USD-PERP	−0.0004%	1h	46.720	−0.086%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.798	+0.081%	$24K	$9K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	46.820	+0.128%	$3.4M	$6.2M	25x
Bybit IRENUSDT	0.0000%	8h	46.800	+0.086%	$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_USDT	0.0000%	8h	46.830	+0.150%	$718K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.792	+0.068%	$191K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.780	+0.042%	$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-USDTlong	0.0000%	8h	46.760	long leg	$9K	$869	20x
QFEX IREN-USD	+0.0032%	1h	46.800	+0.086%	$1.2M	$1.6M	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.755	−0.011%	$4K	$7K	5x	as long as short
Paragon para:IREN	+0.0060%	1h	46.759	−0.001%	$602K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.800	+0.086%	$736K	$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	+0.0133%	1h	46.784	+0.051%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0341%	1h	46.793	+0.071%	$83	$31K	10x	as long as short