Funding you earn now, next payment 05:00 UTC+0.0441%/8h= +48.3% APRpaid last 24h +0.132%
Price spread now: Entropy against Bybit+0.047%52s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as 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−$1211.214% of the position
Funding, last 7 days+0.383%+$38 on $10k
+Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.047%, 7d avg +0.009%
=Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Entropy is 0.038% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%. 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 | Bybit IONQUSDT | 40.480 | 0 | get 0.0000% / 8h | 3h 24m | $678K | $248K | 25x |
| Short | Entropy io:IONQ | 40.499 | 0.0441 | get 0.0055% / 1h | 24m 52s | $45K | $172K | 10x |
Bybit IONQUSDT
Entropy io:IONQFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Bybit. 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
- $92.62
- Price spread: +0.047% → +0.009%
- $3.79
- Slippage, 4 orders
- −$92.45
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$25.03
- Costs to cover
- 1.214%
- Break-even
- 8.9 days
Slippage from Bybit: live order book, 20 min ago; Entropy: live order book, 60 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 Bybit live order book, 20 min ago | 8.62 bp | 42.0 bp −$42 | 620.5 bp −$6,205 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 60 min ago | 8.95 bp | 28.8 bp −$29 | 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 | −0.0020% | 8h | 40.540 | +0.148% | $49K | $6K | 20x | as long as short |
| Binance IONQUSDT | 0.0000% | 8h | 40.528 | +0.119% | $732K | $1.2M | 20x | as long as short |
| Bybit IONQUSDTlong | 0.0000% | 8h | 40.480 | long leg | $678K | $248K | 25x | |
| OKX IONQ-USDT-SWAP | 0.0000% | 8h | 40.520 | +0.099% | $133K | $269K | 20x | as long as short |
| QFEX IONQ-USD | 0.0000% | 1h | 40.480 | 0.000% | $1.1M | $503K | 10x | as long as short |
| Gate IONQ_USDT | 0.0000% | 8h | 40.540 | +0.148% | $505K | $477K | 20x | as long as short |
| Bitget IONQUSDT | 0.0000% | 8h | 40.600 | +0.296% | $1.5M | $376K | 20x | as long as short |
| HTX IONQ-USDT | 0.0000% | 8h | 40.600 | +0.296% | $7K | $18K | 10x | as long as short |
| Phemex IONQUSDT | 0.0000% | 8h | 40.520 | +0.099% | $698K | $99K | 20x | as long as short |
| edgeX IONQUSDC | +0.0026% | 4h | 40.554 | +0.183% | $1K | $187K | 10x | as long as short |
BloFin IONQ-USDT
Binance IONQUSDT
OKX IONQ-USDT-SWAP
QFEX IONQ-USD
Gate IONQ_USDT
Bitget IONQUSDT
HTX IONQ-USDT
Phemex IONQUSDT
edgeX IONQUSDCShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin IONQUSDTM | +0.0100% | 8h | 40.630 | +0.371% | $37K | $2.9M | 20x | as long as short |
| Entropy io:IONQshort | +0.0441% | 1h | 40.499 | +0.047% | $45K | $172K | 10x |
KuCoin IONQUSDTM