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 +0.063%

Price spread now: Gate against Variational Omni−0.027%7-day average +0.003% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.361%−$36 · spread now −0.027%, 7d avg +0.003%

Together, before fees−0.349%+ Points / potential airdropVariational Omni: Active · farm board−$35 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: Gate is 0.030% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 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	46.803	0	get 0.0000% / 8h	12m 43s	$191K	$92K	—
Short	Gate IREN_USDT	46.790	0	get 0.0000% / 8h	12m 43s	$819K	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → +0.003%: −$3.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$18.05
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 26 min ago; Gate: live order book, 4 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, 26 min ago	5.25 bp	doesn't fit	70.2 bp −$702	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	4.27 bp	29.2 bp −$29	87.1 bp −$871	119.3 bp −$11.9K	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	−0.0193%	8h	46.743	−0.128%	$2.1M	$544K	20x	as long as short
Vest IREN-USD-PERP	−0.0001%	1h	46.680	−0.262%	—	$15K	10x	as long as short
Aster IRENUSDT	0.0000%	8h	46.846	+0.093%	$24K	$9K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	46.770	−0.070%	$3.5M	$6.2M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.770	−0.070%	$1.2M	$553K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.800	−0.006%	$625K	$677K	25x	as long as short
Gate IREN_USDTshort	0.0000%	8h	46.790	−0.027%	$819K	$1.3M	25x
Variational Omni IRENlong	0.0000%	8h	46.803	long leg	$191K	$92K	—
GRVT IREN_USDT_Perp	0.0000%	8h	46.810	+0.015%	$5K	$220K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	46.800	−0.006%	$912	$333K	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	46.770	−0.070%	$9K	$876	20x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	46.725	−0.166%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0043%	1h	46.770	−0.070%	$1.2M	$1.5M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	46.755	−0.102%	$601K	$177K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.800	−0.006%	$736K	$275K	20x	as long as short
Lighter RH IREN	+0.0200%	1h	46.817	+0.030%	$70K	$98K	10x	as long as short
tradeXYZ xyz:IREN	+0.0208%	1h	46.756	−0.100%	$3.1M	$2.0M	10x	as long as short
Phoenix IREN	+0.0308%	1h	46.765	−0.081%	$86	$31K	10x	as long as short