Funding you earn now, next payment 01:00 UTC−0.0353%/8h= −38.6% APRpaid last 24h −0.100%
Price spread now: Bitget against Phoenix−0.027%109s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bitget is 0.027% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix IREN | 47.393 | 0.0353 | pay 0.0044% / 1h | 19m 42s | $83 | $31K | 10x |
| Short | Bitget IRENUSDT | 47.380 | 0 | get 0.0000% / 8h | 6h 19m | $2.0M | $436K | 20x |
Phoenix IREN
Bitget IRENUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$74.08
- Price spread: −0.027% → 0.000%
- −$2.74
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$95.83
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bitget: live order book, 2 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 2 min ago | 2.32 bp | 21.7 bp −$22 | doesn't fit | doesn't fit | doesn't fit |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster IRENUSDT | 0.0000% | 8h | 47.496 | +0.217% | $29K | $4K | 20x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.370 | −0.049% | $1.2M | $523K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.410 | +0.036% | $648K | $634K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.390 | −0.006% | $724K | $1.2M | 25x | as long as short |
| Bitget IRENUSDTshort | 0.0000% | 8h | 47.380 | −0.027% | $2.0M | $436K | 20x | |
| Variational Omni IREN | 0.0000% | 8h | 47.371 | −0.046% | $209K | $84K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.372 | −0.044% | $4K | $180K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.350 | −0.091% | $942 | $360K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.250 | −0.302% | $9K | $760 | 20x | as long as short |
| Vest IREN-USD-PERP | +0.0003% | 1h | 47.310 | −0.175% | — | $15K | 10x | as long as short |
Aster IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDT
HTX IREN-USDT
Vest IREN-USD-PERPShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance IRENUSDT | +0.0004% | 8h | 47.389 | −0.009% | $3.4M | $6.2M | 25x | as long as short |
| QFEX IREN-USD | +0.0029% | 1h | 47.380 | −0.027% | $1.2M | $1.8M | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.404 | +0.023% | $68K | $99K | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.365 | −0.059% | $4K | $7K | 5x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.380 | −0.027% | $745K | $184K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0251% | 1h | 47.369 | −0.051% | $3.2M | $1.9M | 10x | as long as short |
| Paragon para:IREN | +0.0313% | 1h | 47.360 | −0.070% | $599K | $172K | 10x | as long as short |
| Phoenix IRENlong | +0.0353% | 1h | 47.393 | long leg | $83 | $31K | 10x |
Binance IRENUSDT
QFEX IREN-USD
Lighter RH IREN
Extended IREN_24_5-USD
KuCoin IRENUSDTM
tradeXYZ xyz:IREN
Paragon para:IREN