Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0203%/8h= +22.3% APRpaid last 24h +0.085%

Price spread now: tradeXYZ against HTX−0.071%7-day average — · you buy dearer than you sell

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

Long on HTX Short on tradeXYZ

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 airdroptradeXYZ: Active · farm boardneeds both histories

Funding pays, the price is against you. tradeXYZ is 0.071% cheaper against HTX than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 28 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX IREN-USDT	46.270	0	get 0.0000% / 8h	7h 34m	$9K	$873	20x
Short	tradeXYZ xyz:IREN	46.237	0.0203	get 0.0025% / 1h	34m 07s	$3.1M	$2.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.071%Rate

Funding earned: $42.69
Price spread: −0.071% → 0.000%: −$7.13
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $5.55
Costs to cover: 0.300%
Break-even: 6.1 days

Slippage unknown: HTX: no order-book sample; tradeXYZ: live order book, 3 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 tradeXYZ live order book, 3 min ago	3.89 bp	20.3 bp −$20	doesn't fit	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
Bitget IRENUSDT	−0.0126%	8h	46.256	−0.030%	$2.1M	$650K	20x	as long as short
Paragon para:IREN	−0.0096%	1h	46.242	−0.060%	$595K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0017%	1h	46.170	−0.216%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.319	+0.105%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.291	+0.045%	$3.5M	$6.3M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.260	−0.022%	$1.2M	$570K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.280	+0.022%	$619K	$649K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.250	−0.043%	$811K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.347	+0.167%	$181K	$101K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.447	+0.383%	$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	+0.324%	$1K	$326K	10x	as long as short
HTX IREN-USDTlong	0.0000%	8h	46.270	long leg	$9K	$873	20x
Extended IREN_24_5-USD	+0.0040%	1h	46.297	+0.059%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.240	−0.065%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0072%	1h	46.330	+0.130%	$69K	$98K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.320	+0.108%	$731K	$308K	20x	as long as short
tradeXYZ xyz:IRENshort	+0.0203%	1h	46.237	−0.071%	$3.1M	$2.0M	10x
Phoenix IREN	+0.0342%	1h	46.387	+0.253%	$82	$31K	10x	as long as short