Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.018%

Price spread now: Extended against KuCoin−0.064%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.064% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	47.010	0.0100	pay 0.0100% / 8h	2h 08m	$740K	$251K	20x
Short	Extended IREN_24_5-USD	46.980	0.0040	get 0.0005% / 1h	8m 25s	$4K	$7K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$12.6
Price spread: −0.064% → 0.000%: −$6.38
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$35.98
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 1 min ago; Extended: no order-book sample. 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 KuCoin live order book, 1 min ago	8.52 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	−0.0383%	8h	46.986	−0.051%	$2.1M	$520K	20x	as long as short
Vest IREN-USD-PERP	−0.0008%	1h	46.910	−0.213%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.043	+0.070%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.021	+0.024%	$3.4M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.020	+0.021%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.010	0.000%	$627K	$692K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.020	+0.021%	$720K	$1.2M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.977	−0.071%	$192K	$102K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.985	−0.053%	$5K	$210K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.010	0.000%	$1K	$345K	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	46.940	−0.149%	$9K	$848	20x	as long as short
Extended IREN_24_5-USDshort	+0.0040%	1h	46.980	−0.064%	$4K	$7K	5x
QFEX IREN-USD	+0.0043%	1h	47.010	0.000%	$1.2M	$1.6M	10x	as long as short
Lighter RH IREN	+0.0048%	1h	47.012	+0.004%	$70K	$98K	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.970	−0.085%	$604K	$182K	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.010	long leg	$740K	$251K	20x
tradeXYZ xyz:IREN	+0.0197%	1h	46.993	−0.036%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	46.963	−0.100%	$82	$31K	10x	as long as short