Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against OKX+0.296%7-day average +0.002% · you sell dearer than you buy

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.241%−$24 · spread now +0.296%, 7d avg +0.002%

Together, before fees−0.212%+ Points / potential airdropVariational Omni: Active · farm board−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.295% dearer against OKX than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX IREN-USDT-SWAP	46.350	0	get 0.0000% / 8h	7h 36m	$620K	$648K	25x
Short	Variational Omni IREN	46.487	0	get 0.0000% / 8h	7h 36m	$181K	$101K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.296%Rate

Funding earned: $0
Price spread: +0.296% → +0.002%: $29.45
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $19.45
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: OKX: live order book, 59 min ago; Variational Omni: RFQ quote, 62 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 OKX live order book, 59 min ago	4.27 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 62 min ago	5.25 bp	doesn't fit	55.0 bp −$550	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
Bitget IRENUSDT	−0.0131%	8h	46.318	−0.069%	$2.1M	$567K	20x	as long as short
Paragon para:IREN	−0.0130%	1h	46.342	−0.016%	$596K	$177K	10x	as long as short
Vest IREN-USD-PERP	−0.0014%	1h	46.300	−0.108%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.391	+0.088%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.333	−0.038%	$3.5M	$6.3M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.320	−0.065%	$1.2M	$568K	25x	as long as short
OKX IREN-USDT-SWAPlong	0.0000%	8h	46.350	long leg	$620K	$648K	25x
Gate IREN_USDT	0.0000%	8h	46.380	+0.065%	$813K	$1.3M	25x	as long as short
Variational Omni IRENshort	0.0000%	8h	46.487	+0.296%	$181K	$101K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.447	+0.210%	$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	+0.151%	$1K	$327K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	46.400	+0.108%	$9K	$873	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.364	+0.030%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0068%	1h	46.400	+0.108%	$1.2M	$1.5M	10x	as long as short
Lighter RH IREN	+0.0080%	1h	46.373	+0.050%	$69K	$98K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.370	+0.043%	$732K	$306K	20x	as long as short
tradeXYZ xyz:IREN	+0.0199%	1h	46.332	−0.039%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0342%	1h	46.387	+0.080%	$82	$31K	10x	as long as short