Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.012%

Price spread now: Extended against OKX−0.017%7-day average — · you buy dearer than you sell

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

Long on OKX 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	46.840	0	get 0.0000% / 8h	6h 54m	$628K	$671K	25x
Short	Extended IREN_24_5-USD	46.832	0.0040	get 0.0005% / 1h	54m 25s	$4K	$4K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.017%Rate

Funding earned: $8.4
Price spread: −0.017% → 0.000%: −$1.73
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$8.33
Costs to cover: 0.150%
Break-even: 13.9 days

Slippage unknown: OKX: live order book, 36 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 OKX live order book, 36 min ago	4.34 bp	12.4 bp −$12	1374.9 bp −$13.7K	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	−0.0024%	8h	46.829	−0.023%	$2.1M	$646K	20x	as long as short
Vest IREN-USD-PERP	−0.0024%	1h	46.810	−0.064%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.863	+0.050%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.850	+0.021%	$1.2M	$573K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	46.840	long leg	$628K	$671K	25x
Gate IREN_USDT	0.0000%	8h	46.860	+0.043%	$809K	$1.4M	25x	as long as short
Variational Omni IREN	0.0000%	8h	47.046	+0.439%	$183K	$101K	—	as long as short
SunX IREN-USDT	0.0000%	8h	46.960	+0.256%	$972	$322K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.020	+0.384%	$9K	$869	20x	as long as short
Lighter RH IREN	+0.0032%	1h	46.946	+0.226%	$70K	$96K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USDshort	+0.0040%	1h	46.832	−0.017%	$4K	$4K	5x
Binance IRENUSDT	+0.0042%	8h	46.879	+0.084%	$3.5M	$6.5M	25x	as long as short
QFEX IREN-USD	+0.0051%	1h	46.840	0.000%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.903	+0.133%	$603K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.900	+0.128%	$742K	$349K	20x	as long as short
tradeXYZ xyz:IREN	+0.0218%	1h	46.851	+0.023%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.984	+0.307%	$86	$31K	10x	as long as short
GRVT IREN_USDT_Perp	+0.0559%	8h	47.030	+0.406%	$5K	$226K	10x	as long as short