IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.8% APRnext payment −$0.02 per $10,000 · paid last 24h −0.010%

Price spread now: QFEX against Paragon+0.084%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1731.733% of the position

Long on Paragon Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now +0.084%, 7d avg +0.020%

Together, before fees+0.089%+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.064% dearer against Paragon than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of +0.020%): +$6 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 13 days. At the pace of the last 4 days (−0.059% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paragon para:IREN	47.570	0.0060	pay 0.0008% / 1h	9m 30s	$612K	$182K	10x
Short	QFEX IREN-USD	47.610	0.0044	get 0.0005% / 1h	9m 30s	$1.2M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Paragon. 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 ParagonbpFee QFEXbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$3.41
Price spread: +0.084% → +0.020%: $6.42
Slippage, 4 orders: −$153.31
Fee Paragon: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$170.3
Costs to cover: 1.733%
Break-even: never at this rate

Slippage from Paragon: live order book, 16 min ago; QFEX: live order book, 2 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 Paragon live order book, 16 min ago	21.97 bp	27.1 bp −$27	46.4 bp −$464	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	53.57 bp	58.6 bp −$59	63.8 bp −$638	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	47.643	+0.153%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.633	+0.133%	$3.4M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.600	+0.063%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.670	+0.210%	$649K	$620K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.610	+0.084%	$726K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.551	−0.040%	$2.0M	$417K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.606	+0.076%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.593	+0.049%	$5K	$193K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.610	+0.084%	$715	$357K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.580	+0.021%	$9K	$808	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	+0.0018%	1h	47.530	−0.084%	—	$15K	10x	as long as short
Lighter RH IREN	+0.0032%	1h	47.633	+0.132%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.580	+0.021%	$4K	$7K	5x	as long as short
QFEX IREN-USDshort	+0.0044%	1h	47.610	+0.084%	$1.2M	$1.5M	10x
Paragon para:IRENlong	+0.0060%	1h	47.570	long leg	$612K	$182K	10x
tradeXYZ xyz:IREN	+0.0094%	1h	47.620	+0.105%	$3.2M	$1.9M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.610	+0.084%	$749K	$219K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.610	+0.084%	$88	$31K	10x	as long as short