Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Binance against Variational Omni+0.135%7-day average −0.003% · you sell dearer than you buy

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

Long on Variational Omni Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now +0.135%, 7d avg −0.003%

Together, before fees+0.212%+ Points / potential airdropVariational Omni: Active · farm board+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.138% dearer against Variational Omni than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni IREN	46.977	0	get 0.0000% / 8h	2h 07m	$192K	$102K	—
Short	Binance IRENUSDT	47.040	0	get 0.0000% / 8h	2h 07m	$3.5M	$6.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Variational Omni. 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 Variational OmnibpFee BinancebpOrdersPrice spread, now +0.135%Rate

Funding earned: $0
Price spread: +0.135% → −0.003%: $13.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: $3.76
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 42 min ago; Binance: live order book, 1 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 Variational Omni RFQ quote, 42 min ago	5.24 bp	doesn't fit	57.4 bp −$574	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	3.19 bp	12.9 bp −$13	45.6 bp −$456	136.3 bp −$13.6K	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
Bitget IRENUSDT	−0.0375%	8h	46.992	+0.032%	$2.1M	$520K	20x	as long as short
Vest IREN-USD-PERP	−0.0009%	1h	46.910	−0.142%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	47.039	+0.132%	$29K	$4K	20x	as long as short
Binance IRENUSDTshort	0.0000%	8h	47.040	+0.135%	$3.5M	$6.2M	25x
Bybit IRENUSDT	0.0000%	8h	47.020	+0.092%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	47.030	+0.113%	$627K	$692K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	47.020	+0.092%	$720K	$1.2M	25x	as long as short
Variational Omni IRENlong	0.0000%	8h	46.977	long leg	$192K	$102K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.985	+0.017%	$5K	$210K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.050	+0.156%	$973	$346K	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	46.980	+0.007%	$9K	$850	20x	as long as short
Lighter RH IREN	+0.0040%	1h	47.054	+0.164%	$70K	$98K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.985	+0.017%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	47.030	+0.113%	$1.2M	$1.6M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.990	+0.028%	$604K	$182K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.970	−0.014%	$739K	$251K	20x	as long as short
tradeXYZ xyz:IREN	+0.0199%	1h	47.007	+0.064%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0340%	1h	46.963	−0.029%	$85	$31K	10x	as long as short