IREN on Paragon — funding rate, open interest and liquidation levels
Snapshot , refreshed hourly · Paragon · rank #11 of 25 by 24h volume
What the numbers say
IREN perpetuals trade at $43.992 on Paragon, a HIP-3 builder dex on Hyperliquid, down +2.93% over the last 24 hours. The market turned over $100.3K of notional in that window, which ranks it #11 of the 25 markets listed on Paragon. Maximum leverage is 10x.
Open interest stands at $764.8K against $100.3K of 24-hour volume, an open-interest-to-volume ratio of 7.62. Positioning is heavy relative to turnover: open interest that is not being recycled by daily volume has to unwind through the book, which is what turns an ordinary move into a squeeze.
Funding prints +0.00075% per hour (+0.018% per day, +6.6% annualised), so longs pay shorts. The carry is close to neutral, so holding the perp costs roughly the same as holding spot.
Applying the Buildix leverage distribution to $764.8K of open interest puts the tightest liquidation band at $43.405 for longs and $44.578 for shorts, 1.3% either side of the mark. A 5% drop from here would take an estimated $76.5K of long exposure into liquidation range; a 5% rally would do the same to about $76.5K of shorts. These are modelled clusters from open interest, not per-wallet liquidation prices — the live deep view fuses them with the real on-chain whale levels.
Cost of carry on a $10,000 IREN position
At +0.00075% per hour, holding $10,000 of notional costs a long the amounts below, assuming funding stays where it is. Hyperliquid settles every hour, so the rate can move before the position does.
| Holding period | Funding paid | % of notional |
|---|---|---|
| 1 hour | $0.07 | 0.0008% |
| 8 hours | $0.60 | 0.0060% |
| 24 hours | $1.80 | 0.0180% |
| 7 days | $12.60 | 0.1260% |
Estimated liquidation clusters
Hyperliquid does not publish per-wallet liquidation prices, so these bands come from the Buildix leverage model: $764.8K of open interest spread over the leverage distribution the platform uses everywhere else, split evenly between longs and shorts. Read them as where forced flow becomes likely, not as a promise that it happens.
| Leverage | Long liq. | Short liq. | Distance | Size / side |
|---|---|---|---|---|
| 75x | $43.405 | $44.578 | 1.3% | $19.1K |
| 37.5x | $42.818 | $45.165 | 2.7% | $57.4K |
| 17.5x | $41.478 | $46.505 | 5.7% | $114.7K |
| 7.5x | $38.126 | $49.857 | 13.3% | $191.2K |
Cascade estimate: a 5% move down puts about $76.5K of long exposure in range, a 5% move up about $76.5K of shorts.
The deep view streams CVD, order book imbalance, VPIN, the footprint chart and the on-chain liquidation heatmap for IREN in real time. This page stays public; the terminal is where an account starts.
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FAQ
What is the current IREN funding rate on Paragon?
IREN funding is +0.00075% per hour, which works out to +0.018% per day and +6.6% annualised. Longs pay shorts at that rate. Hyperliquid settles funding every hour, so the figure updates hourly.
How much open interest does IREN have?
Open interest on IREN is $764.8K, against $100.3K of notional traded in the last 24 hours — an open-interest-to-volume ratio of 7.62.
Where are the IREN liquidation levels?
The tightest modelled cluster sits at $43.405 for longs and $44.578 for shorts, about 1.3% from the $43.992 mark. A 5% move down would put roughly $76.5K of longs in range and a 5% move up roughly $76.5K of shorts. These are estimates derived from open interest and a leverage distribution, not per-wallet data.
Is this IREN data free?
Yes. This page is public and needs no account, and Buildix runs a free screener to start across 530+ Hyperliquid pairs. The live IREN deep view — orderflow, CVD, VPIN, footprint and the on-chain liquidation heatmap — is the part that asks you to sign in.
Price, funding, open interest and 24-hour volume are read from Hyperliquid's own metaAndAssetCtxs feed, cached by Buildix and refreshed on this page every hour. Liquidation bands are modelled from open interest, not observed positions. Nothing here is financial advice.