Funding arb · Price arb /

IREN

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h −0.008%

Price spread now: OKX against Vest−0.063%7-day average — · you buy dearer than you sell

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

Long on Vest Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.063% cheaper against Vest than usual: you would sell low and buy high (−$6 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	Vest IREN-USD-PERP	47.510	0.0014	pay 0.0002% / 1h	34m 05s	—	$15K	10x
Short	OKX IREN-USDT-SWAP	47.480	0	get 0.0000% / 8h	4h 34m	$645K	$619K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Vest. 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 VestbpFee OKXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$3.04
Price spread: −0.063% → 0.000%: −$6.31
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee OKX: 5 bp × 2 orders: −$10
Net: −$21.36
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; OKX: live order book, 22 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 Vest no order-book sample	—	—	—	—	—
Sell OKX live order book, 22 min ago	7.37 bp	15.3 bp −$15	689.2 bp −$6,892	doesn't fit	doesn't fit

Vest: 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	47.588	+0.164%	$29K	$4K	20x	as long as short
Binance IRENUSDT	0.0000%	8h	47.578	+0.142%	$3.5M	$6.1M	25x	as long as short
Bybit IRENUSDT	0.0000%	8h	47.550	+0.084%	$1.2M	$541K	25x	as long as short
OKX IREN-USDT-SWAPshort	0.0000%	8h	47.480	−0.063%	$645K	$619K	25x
Gate IREN_USDT	0.0000%	8h	47.560	+0.105%	$724K	$1.2M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	47.517	+0.015%	$2.0M	$417K	20x	as long as short
Variational Omni IREN	0.0000%	8h	47.547	+0.077%	$212K	$87K	—	as long as short
GRVT IREN_USDT_Perp	0.0000%	8h	47.560	+0.105%	$4K	$190K	10x	as long as short
SunX IREN-USDT	0.0000%	8h	47.560	+0.105%	$636	$358K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	47.530	+0.042%	$9K	$799	20x	as long as short

Show all 18 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest IREN-USD-PERPlong	+0.0014%	1h	47.510	long leg	—	$15K	10x
Lighter RH IREN	+0.0032%	1h	47.595	+0.179%	$69K	$94K	10x	as long as short
Extended IREN_24_5-USD	+0.0040%	1h	47.560	+0.105%	$4K	$7K	5x	as long as short
QFEX IREN-USD	+0.0044%	1h	47.550	+0.084%	$1.2M	$1.6M	10x	as long as short
Paragon para:IREN	+0.0060%	1h	47.550	+0.084%	$611K	$182K	10x	as long as short
tradeXYZ xyz:IREN	+0.0094%	1h	47.578	+0.143%	$3.2M	$2.0M	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	47.560	+0.105%	$748K	$218K	20x	as long as short
Phoenix IREN	+0.0421%	1h	47.601	+0.192%	$87	$31K	10x	as long as short