Funding you earn now, next payment 23:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.095%
Price spread now: SunX against Phoenix+0.023%69s7-day average — · you sell dearer than you buy
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
The price spread pays, funding is against you. SunX is 0.023% dearer against Phoenix than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 5 hours. The two prices were read 69 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 | 47.459 | 0.0388 | pay 0.0049% / 1h | 13m 45s | $84 | $38K | 10x |
| Short | SunX IREN-USDT | 47.470 | 0 | get 0.0000% / 8h | 13m 45s | $760 | $385K | 10x |
Phoenix IREN
SunX IREN-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$81.49
- Price spread: +0.023% → 0.000%
- $2.32
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$94.17
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; SunX: live order book, 47 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 SunX live order book, 47 min ago | 47.43 bp | 67.6 bp −$68 | 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 | 47.454 | −0.011% | $29K | $4K | 20x | as long as short |
| Binance IRENUSDT | 0.0000% | 8h | 47.471 | +0.026% | $3.5M | $6.5M | 25x | as long as short |
| Bybit IRENUSDT | 0.0000% | 8h | 47.420 | −0.082% | $1.2M | $485K | 25x | as long as short |
| OKX IREN-USDT-SWAP | 0.0000% | 8h | 47.440 | −0.040% | $662K | $667K | 25x | as long as short |
| Gate IREN_USDT | 0.0000% | 8h | 47.470 | +0.023% | $738K | $1.5M | 25x | as long as short |
| Bitget IRENUSDT | 0.0000% | 8h | 47.419 | −0.084% | $2.0M | $497K | 20x | as long as short |
| Variational Omni IREN | 0.0000% | 8h | 47.468 | +0.019% | $207K | $88K | — | as long as short |
| SunX IREN-USDTshort | 0.0000% | 8h | 47.470 | +0.023% | $760 | $385K | 10x | |
| HTX IREN-USDT | 0.0000% | 8h | 47.430 | −0.061% | $9K | $718 | 20x | as long as short |
| GRVT IREN_USDT_Perp | +0.0002% | 8h | 47.462 | +0.007% | $4K | $189K | 10x | as long as short |
Aster IRENUSDT
Binance IRENUSDT
Bybit IRENUSDT
OKX IREN-USDT-SWAP
Gate IREN_USDT
Bitget IRENUSDT
Variational Omni IREN
HTX IREN-USDT
GRVT IREN_USDT_PerpShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest IREN-USD-PERP | +0.0003% | 1h | 47.360 | −0.209% | — | $15K | 10x | as long as short |
| Lighter RH IREN | +0.0032% | 1h | 47.483 | +0.051% | $68K | $111K | 10x | as long as short |
| QFEX IREN-USD | +0.0032% | 1h | 47.420 | −0.082% | $1.2M | $2.1M | 10x | as long as short |
| Extended IREN_24_5-USD | +0.0040% | 1h | 47.400 | −0.124% | $4K | $8K | 5x | as long as short |
| Paragon para:IREN | +0.0060% | 1h | 47.421 | −0.079% | $637K | $147K | 10x | as long as short |
| KuCoin IRENUSDTM | +0.0100% | 8h | 47.460 | +0.002% | $746K | $154K | 20x | as long as short |
| tradeXYZ xyz:IREN | +0.0246% | 1h | 47.450 | −0.019% | $3.2M | $1.9M | 10x | as long as short |
| Phoenix IRENlong | +0.0388% | 1h | 47.459 | long leg | $84 | $38K | 10x |
Vest IREN-USD-PERP
Lighter RH IREN
QFEX IREN-USD
Extended IREN_24_5-USD
Paragon para:IREN
KuCoin IRENUSDTM
tradeXYZ xyz:IREN