Funding you earn now, next payment 01:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.131%
Price spread now: Entropy against Bitget−0.034%55s7-day average −0.141% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as 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−$980.980% of the position
Funding, last 7 days+0.343%+$34 on $10k
+Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.034%, 7d avg −0.141%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Entropy is 0.107% dearer against Bitget than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.141%. The two prices were read 55 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 | Bitget IONQUSDT | 40.890 | 0 | get 0.0000% / 8h | 7h 37m | $1.5M | $409K | 20x |
| Short | Entropy io:IONQ | 40.876 | 0.0050 | get 0.0006% / 1h | 37m 51s | $43K | $179K | 10x |
Bitget IONQUSDT
Entropy io:IONQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Bitget. 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
- $10.5
- Price spread: −0.034% → −0.141%
- $10.7
- Slippage, 4 orders
- −$68.03
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$76.82
- Costs to cover
- 0.980%
- Break-even
- 58.2 days
Slippage from Bitget: live order book, 4 min ago; Entropy: live order book, 17 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 Bitget live order book, 4 min ago | 10.99 bp | 20.0 bp −$20 | 49.6 bp −$496 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 17 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin IONQ-USDT | −0.0010% | 8h | 40.910 | +0.049% | $48K | $6K | 20x | as long as short |
| Binance IONQUSDT | 0.0000% | 8h | 40.876 | −0.035% | $740K | $1.4M | 20x | as long as short |
| Bybit IONQUSDT | 0.0000% | 8h | 40.880 | −0.024% | $683K | $275K | 25x | as long as short |
| OKX IONQ-USDT-SWAP | 0.0000% | 8h | 40.870 | −0.049% | $105K | $245K | 20x | as long as short |
| QFEX IONQ-USD | 0.0000% | 1h | 40.830 | −0.147% | $1.1M | $670K | 10x | as long as short |
| Gate IONQ_USDT | 0.0000% | 8h | 40.880 | −0.024% | $504K | $535K | 20x | as long as short |
| Bitget IONQUSDTlong | 0.0000% | 8h | 40.890 | long leg | $1.5M | $409K | 20x | |
| HTX IONQ-USDT | 0.0000% | 8h | 40.840 | −0.122% | $7K | $19K | 10x | as long as short |
| Phemex IONQUSDT | 0.0000% | 8h | 40.860 | −0.073% | $702K | $111K | 20x | as long as short |
| Entropy io:IONQshort | +0.0050% | 1h | 40.876 | −0.034% | $43K | $179K | 10x |
BloFin IONQ-USDT
Binance IONQUSDT
Bybit IONQUSDT
OKX IONQ-USDT-SWAP
QFEX IONQ-USD
Gate IONQ_USDT
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 | 41.010 | +0.293% | $37K | $2.9M | 20x | as long as short |
| edgeX IONQUSDC | +0.0302% | 4h | 40.923 | +0.080% | $1K | $186K | 10x | as long as short |
KuCoin IONQUSDTM
edgeX IONQUSDC