Funding arb · Price arb /

IREN

RWAall IREN markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.003%

Price spread now: Variational Omni against Vest+0.281%7-day average — · you sell dearer than you buy

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

Long on Vest Short on Variational Omni

What this pair did over the last

the charts below follow

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—+ Points / potential airdropVest: Active · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.281% dearer against Vest than usual: you sell high and buy low, +$28 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest IREN-USD-PERP	46.770	0.0002	pay 0.0000% / 1h	4m 00s	—	$15K	10x
Short	Variational Omni IREN	46.902	0	get 0.0000% / 8h	4h 04m	$185K	$100K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.281%Rate

Funding earned: −$0.35
Price spread: +0.281% → 0.000%: $28.14
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $25.79
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 38 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 Variational Omni RFQ quote, 38 min ago	3.51 bp	doesn't fit	87.1 bp −$871	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 exchanges

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	46.848	+0.167%	$24K	$9K	20x	as long as short
Bybit IRENUSDT	0.0000%	8h	46.820	+0.107%	$1.2M	$551K	25x	as long as short
OKX IREN-USDT-SWAP	0.0000%	8h	46.870	+0.214%	$634K	$670K	25x	as long as short
Gate IREN_USDT	0.0000%	8h	46.840	+0.150%	$807K	$1.3M	25x	as long as short
Bitget IRENUSDT	0.0000%	8h	46.827	+0.122%	$2.1M	$619K	20x	as long as short
Variational Omni IRENshort	0.0000%	8h	46.902	+0.281%	$185K	$100K	—
SunX IREN-USDT	0.0000%	8h	46.930	+0.342%	$1K	$269K	10x	as long as short
HTX IREN-USDT	0.0000%	8h	46.860	+0.192%	$9K	$867	20x	as long as short
Vest IREN-USD-PERPlong	+0.0002%	1h	46.770	long leg	—	$15K	10x
QFEX IREN-USD	+0.0035%	1h	46.850	+0.171%	$1.2M	$1.4M	10x	as long as short

Show all 18 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended IREN_24_5-USD	+0.0040%	1h	46.784	+0.029%	$4K	$4K	5x	as long as short
GRVT IREN_USDT_Perp	+0.0045%	8h	46.930	+0.342%	$5K	$244K	10x	as long as short
Lighter RH IREN	+0.0048%	1h	46.871	+0.216%	$71K	$98K	10x	as long as short
Binance IRENUSDT	+0.0058%	8h	46.870	+0.214%	$3.5M	$6.1M	25x	as long as short
Paragon para:IREN	+0.0060%	1h	46.785	+0.032%	$602K	$169K	10x	as long as short
KuCoin IRENUSDTM	+0.0100%	8h	46.880	+0.235%	$741K	$511K	20x	as long as short
tradeXYZ xyz:IREN	+0.0232%	1h	46.815	+0.096%	$3.2M	$1.7M	10x	as long as short
Phoenix IREN	+0.0355%	1h	46.878	+0.231%	$87	$31K	10x	as long as short