IREN

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0248%/8h= −27.1% APRnext payment −$0.31 per $10,000 · paid last 24h −0.086%

Price spread now: Paragon against Phoenix−0.139%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Paragon

What this pair did over the last

the charts below follow

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 −$7 a day on $10k at the current rate, and Paragon is 0.139% cheaper against Phoenix than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix IREN	46.788	0.0308	pay 0.0038% / 1h	7m 09s	$84	$31K	10x
Short	Paragon para:IREN	46.723	0.0060	get 0.0008% / 1h	7m 09s	$601K	$177K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paragon against Phoenix. 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 PhoenixbpFee ParagonbpOrdersPrice spread, now −0.139%Rate

Funding earned: −$52.01
Price spread: −0.139% → 0.000%: −$13.91
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paragon: 5 bp × 2 orders: −$10
Net: −$82.92
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Paragon: live order book, 49 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 Paragon live order book, 49 min ago	24.08 bp	29.4 bp −$29	42.8 bp −$428	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
Bitget IRENUSDT	−0.0185%	8h	46.720	−0.145%	$2.1M	$544K	20x	as long as short
Vest IREN-USD-PERP	−0.0003%	1h	46.630	−0.338%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.821	+0.070%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.750	−0.081%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.740	−0.103%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.770	−0.038%	$625K	$656K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.760	−0.060%	$819K	$1.3M	25x	as long as short
Variational Omni IREN	0.0000%	8h	46.749	−0.083%	$191K	$92K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	46.763	−0.053%	$4K	$221K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.750	−0.081%	$920	$331K	10x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX IREN-USDT	0.0000%	8h	46.730	−0.124%	$9K	$879	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.680	−0.231%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.740	−0.103%	$1.2M	$1.5M	10x	as long as short
Paragon para:IRENshort	+0.0060%	1h	46.723	−0.139%	$601K	$177K	10x
KuCoin IRENUSDTM	+0.0100%	8h	46.760	−0.060%	$736K	$278K	20x	as long as short
Lighter RH IREN	+0.0216%	1h	46.790	+0.004%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0220%	1h	46.728	−0.128%	$3.1M	$2.0M	10x	as long as short
Phoenix IRENlong	+0.0308%	1h	46.788	long leg	$84	$31K	10x