Funding you earn now, next payment 02:00 UTC−0.0329%/8h= −36.0% APRnext payment −$0.41 per $10,000 · paid last 24h −0.092%
Price spread now: QFEX against Phoenix+0.002%52s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 52 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 | 47.429 | 0.0355 | pay 0.0044% / 1h | 51m 41s | $87 | $31K | 10x |
| Short | QFEX IREN-USD | 47.430 | 0.0026 | get 0.0003% / 1h | 51m 41s | $1.2M | $1.8M | 10x |
Phoenix IREN
QFEX IREN-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$69.12
- Price spread: +0.002% → 0.000%
- $0.21
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$85.91
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 10 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 QFEX live order book, 10 min ago | 3.16 bp | 10.3 bp −$10 | 17.1 bp −$171 | 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 | 47.521 | +0.195% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.450 | +0.044% | $3.4M | $6.2M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.430 | +0.002% | $1.2M | $539K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.390 | −0.082% | $646K | $625K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.440 | +0.023% | $720K | $1.2M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.410 | −0.040% | $2.0M | $431K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.427 | −0.004% | $210K | $85K | — | as long as short |
| GRVT IREN_USDT_Perp | 0.0000% | 8h | 47.412 | −0.035% | $5K | $180K | 10x | as long as short |
| SunX IREN-USDT | 0.0000% | 8h | 47.440 | +0.023% | $1K | $356K | 10x | as long as short |
| HTX IREN-USDT | 0.0000% | 8h | 47.410 | −0.040% | $9K | $769 | 20x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
GRVT IREN_USDT_Perp
SunX IREN-USDT
HTX IREN-USDTShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | +0.0005% | 1h | 47.350 | −0.167% | — | $15K | 10x | as long as short |
| QFEX IREN-USDshort | +0.0026% | 1h | 47.430 | +0.002% | $1.2M | $1.8M | 10x | |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.375 | −0.114% | $4K | $7K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.369 | −0.126% | $609K | $182K | 10x | as long as short |
| Lighter RH IREN | +0.0080% | 1h | 47.456 | +0.057% | $69K | $96K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.400 | −0.061% | $745K | $195K | 20x | as long as short |
| Phoenix IRENlong | +0.0355% | 1h | 47.429 | long leg | $87 | $31K | 10x | |
| tradeXYZ xyz:IREN | +0.0503% | 1h | 47.431 | +0.004% | $3.2M | $1.9M | 10x | as long as short |
Vest IREN-USD-PERP
Extended IREN_24_5-USD
Paragon para:IREN
Lighter RH IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN