IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%

Price spread now: OKX against KuCoin−0.210%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$175as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1481.481% of the position

Long on KuCoin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now −0.210%, 7d avg −0.015%

Together, before fees−0.365%−$37 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 OKX is 0.195% cheaper against KuCoin than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin IRENUSDTM	47.580	0.0100	pay 0.0100% / 8h	4h 32m	$749K	$218K	20x
Short	OKX IREN-USDT-SWAP	47.480	0	get 0.0000% / 8h	4h 32m	$645K	$619K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.210%Rate

Funding earned: −$21
Price spread: −0.210% → −0.015%: −$19.55
Slippage, 4 orders: −$126.1
Fee KuCoin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$188.65
Costs to cover: 1.481%
Break-even: never at this rate

Slippage from KuCoin: live order book, 51 min ago; OKX: live order book, 23 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, 51 min ago	9.48 bp	67.5 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 23 min ago	7.37 bp	15.3 bp −$15	689.2 bp −$6,892	doesn't fit	doesn't fit

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
Aster IRENUSDT	0.0000%	8h	47.598	+0.038%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.598	+0.039%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.570	−0.021%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	47.480	−0.210%	$645K	$619K	25x
Gate IREN_USDT	0.0000%	8h	47.570	−0.021%	$724K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.537	−0.090%	$2.0M	$417K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.547	−0.070%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.568	−0.026%	$4K	$190K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.590	+0.021%	$636	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.530	−0.105%	$9K	$799	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERP	+0.0014%	1h	47.530	−0.105%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.589	+0.019%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.585	+0.011%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.580	0.000%	$1.2M	$1.6M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.570	−0.021%	$612K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0093%	1h	47.595	+0.032%	$3.2M	$2.0M	10x	as long as short
KuCoin IRENUSDTMlong	+0.0100%	8h	47.580	long leg	$749K	$218K	20x
Phoenix IREN	+0.0421%	1h	47.592	+0.025%	$85	$31K	10x	as long as short