IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: Bybit against KuCoin−0.063%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$451as in the Funding arb table

Net, price: spread back to 7d avg − costs−$436as in the Price arb table

costs, in and out, $10k−$4324.324% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.181%−$18 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now −0.063%, 7d avg −0.029%

Together, before fees−0.300%−$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.035% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	47.350	0.0100	pay 0.0100% / 8h	5h 43m	$748K	$419K	20x
Short	Bybit IRENUSDT	47.320	0	get 0.0000% / 8h	5h 43m	$1.2M	$563K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$21
Price spread: −0.063% → −0.029%: −$3.48
Slippage, 4 orders: −$409.44
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$456.91
Costs to cover: 4.324%
Break-even: never at this rate

Slippage from KuCoin: live order book, 62 min ago; Bybit: live order book, 5 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 KuCoin live order book, 62 min ago	10.64 bp	104.0 bp −$104	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	3.17 bp	22.9 bp −$23	110.4 bp −$1,104	doesn't fit	doesn't fit

IREN on 18 exchanges

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	47.333	−0.035%	$25K	$9K	20x	as long as short
Bybit IRENUSDTshort	0.0000%	8h	47.320	−0.063%	$1.2M	$563K	25x
OKX IREN-USDT-SWAP	0.0000%	8h	47.350	0.000%	$637K	$673K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.330	−0.042%	$815K	$1.4M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.303	−0.099%	$2.1M	$648K	20x	as long as short
SunX IREN-USDT	0.0000%	8h	47.320	−0.063%	$1K	$311K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.340	−0.021%	$9K	$874	20x	as long as short
Vest IREN-USD-PERP	+0.0005%	1h	47.260	−0.190%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.344	−0.013%	$71K	$96K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.270	−0.169%	$4K	$4K	5x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni IREN	+0.0040%	8h	47.358	+0.017%	$185K	$101K	—	as long as short
QFEX IREN-USD	+0.0049%	1h	47.350	0.000%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.267	−0.174%	$608K	$177K	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.350	long leg	$748K	$419K	20x
Binance IRENUSDT	+0.0164%	8h	47.348	−0.005%	$3.5M	$6.5M	25x	as long as short
tradeXYZ xyz:IREN	+0.0282%	1h	47.329	−0.044%	$3.2M	$2.1M	10x	as long as short
Phoenix IREN	+0.0321%	1h	47.468	+0.249%	$84	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0520%	8h	47.420	+0.148%	$4K	$234K	10x	as long as short