Funding you earn now, next payment 01:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h +0.131%
Price spread now: Entropy against Binance−0.212%52s7-day average −0.053% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$910.907% of the position
Funding, last 7 days+0.376%+$38 on $10k
+Price spread, last 2 days (all we have)+0.182%+$18 · spread now −0.212%, 7d avg −0.053%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Entropy is 0.159% cheaper against Binance than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.053%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.376%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance IONQUSDT | 41.020 | 0 | get 0.0000% / 8h | 7h 51m | $742K | $1.4M | 20x |
| Short | Entropy io:IONQ | 40.933 | −0.0199 | pay 0.0025% / 1h | 51m 55s | $43K | $182K | 10x |
Binance IONQUSDT
Entropy io:IONQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.76
- Price spread: −0.212% → −0.053%
- −$15.93
- Slippage, 4 orders
- −$62.75
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$148.44
- Costs to cover
- 0.907%
- Break-even
- never at this rate
Slippage from Binance: live order book, 11 min ago; Entropy: live order book, 3 min ago.
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 Binance live order book, 11 min ago | 3.66 bp | 15.4 bp −$15 | 64.5 bp −$645 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 3 min ago | 4.64 bp | 26.9 bp −$27 | doesn't fit | doesn't fit | doesn't fit |
IONQ on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Entropy io:IONQshort | −0.0199% | 1h | 40.933 | −0.212% | $43K | $182K | 10x | |
| BloFin IONQ-USDT | −0.0011% | 8h | 41.010 | −0.024% | $47K | $6K | 20x | as long as short |
| Binance IONQUSDTlong | 0.0000% | 8h | 41.020 | long leg | $742K | $1.4M | 20x | |
| Bybit IONQUSDT | 0.0000% | 8h | 41.000 | −0.049% | $686K | $281K | 25x | as long as short |
| OKX IONQ-USDT-SWAP | 0.0000% | 8h | 41.030 | +0.024% | $106K | $254K | 20x | as long as short |
| QFEX IONQ-USD | 0.0000% | 1h | 40.970 | −0.122% | $1.1M | $691K | 10x | as long as short |
| Gate IONQ_USDT | 0.0000% | 8h | 41.000 | −0.049% | $506K | $534K | 20x | as long as short |
| Bitget IONQUSDT | 0.0000% | 8h | 40.920 | −0.244% | $1.5M | $408K | 20x | as long as short |
| HTX IONQ-USDT | 0.0000% | 8h | 41.010 | −0.024% | $7K | $19K | 10x | as long as short |
| Phemex IONQUSDT | 0.0000% | 8h | 41.010 | −0.024% | $704K | $112K | 20x | as long as short |
BloFin IONQ-USDT
Bybit IONQUSDT
OKX IONQ-USDT-SWAP
QFEX IONQ-USD
Gate IONQ_USDT
Bitget IONQUSDT
HTX IONQ-USDT
Phemex IONQUSDTShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin IONQUSDTM | +0.0100% | 8h | 41.100 | +0.195% | $38K | $2.9M | 20x | as long as short |
| edgeX IONQUSDC | +0.0209% | 4h | 40.940 | −0.195% | $1K | $186K | 10x | as long as short |
KuCoin IONQUSDTM
edgeX IONQUSDC