Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0068%/8h= +7.5% APRpaid last 24h +0.009%

Price spread now: QFEX against HTX0.000%7-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 QFEX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IREN-USDT	46.400	0	get 0.0000% / 8h	7h 36m	$9K	$873	20x
Short	QFEX IREN-USD	46.400	0.0068	get 0.0009% / 1h	36m 57s	$1.2M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $14.36
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$7.64
Costs to cover: 0.220%
Break-even: 10.7 days

Slippage unknown: HTX: no order-book sample; QFEX: 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 HTX no order-book sample	—	—	—	—	—
Sell QFEX live order book, 5 min ago	4.30 bp	9.8 bp −$10	20.6 bp −$206	doesn't fit	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
Paragon para:IREN	−0.0144%	1h	46.356	−0.095%	$596K	$177K	10x	as long as short
Bitget IRENUSDT	−0.0131%	8h	46.369	−0.067%	$2.1M	$567K	20x	as long as short
Vest IREN-USD-PERP	−0.0014%	1h	46.300	−0.216%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.402	+0.005%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.350	−0.108%	$3.5M	$6.3M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.350	−0.108%	$1.2M	$568K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.350	−0.108%	$620K	$648K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.380	−0.043%	$813K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.487	+0.188%	$181K	$101K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.447	+0.102%	$4K	$223K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX IREN-USDT	0.0000%	8h	46.420	+0.043%	$1K	$327K	10x	as long as short
HTX IREN-USDTlong	0.0000%	8h	46.400	long leg	$9K	$873	20x
Extended IREN_24_5-USD	+0.0040%	1h	46.364	−0.078%	$4K	$7K	5x	as long as short
QFEX IREN-USDshort	+0.0068%	1h	46.400	0.000%	$1.2M	$1.5M	10x
Lighter RH IREN	+0.0080%	1h	46.394	−0.013%	$69K	$98K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.440	+0.086%	$733K	$305K	20x	as long as short
tradeXYZ xyz:IREN	+0.0201%	1h	46.375	−0.054%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.387	−0.028%	$82	$31K	10x	as long as short