Funding arb · Price arb /

IONQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0927%/8h= −101.5% APRpaid last 24h +0.069%

Price spread now: Bybit against edgeX−0.029%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$1671.673% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.180%−$18 · spread now −0.029%, 7d avg −0.033%

Together, before fees−0.278%+ Points / potential airdropedgeX: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: −$28 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.098% in total (about -5.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX IONQUSDC	40.222	0.0927	pay 0.0464% / 4h	3h 01m	$1K	$188K	10x
Short	Bybit IONQUSDT	40.210	0	get 0.0000% / 8h	7h 01m	$817K	$354K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$194.75
Price spread: −0.029% → −0.033%: $0.35
Slippage, 4 orders: −$147.26
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$361.66
Costs to cover: 1.673%
Break-even: never at this rate

Slippage from edgeX: live order book, 30 min ago; Bybit: live order book, 24 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 edgeX live order book, 30 min ago	6.31 bp	42.4 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 24 min ago	6.30 bp	42.3 bp −$42	243.7 bp −$2,437	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
Bitget IONQUSDT	−0.0054%	8h	40.200	−0.054%	$1.5M	$397K	20x	as long as short
BloFin IONQ-USDT	−0.0022%	8h	40.200	−0.054%	$50K	$9K	20x	as long as short
Binance IONQUSDT	0.0000%	8h	40.215	−0.017%	$750K	$1.4M	20x	as long as short
Bybit IONQUSDTshort	0.0000%	8h	40.210	−0.029%	$817K	$354K	25x
OKX IONQ-USDT-SWAP	0.0000%	8h	40.180	−0.104%	$139K	$294K	20x	as long as short
QFEX IONQ-USD	0.0000%	1h	40.170	−0.129%	$1.1M	$497K	10x	as long as short
Gate IONQ_USDT	0.0000%	8h	40.220	−0.004%	$533K	$521K	20x	as long as short
HTX IONQ-USDT	0.0000%	8h	40.220	−0.004%	$7K	$16K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.220	−0.004%	$700K	$109K	20x	as long as short
Entropy io:IONQ	+0.0050%	1h	40.110	−0.278%	$43K	$188K	10x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin IONQUSDTM	+0.0100%	8h	40.260	+0.095%	$35K	$3.0M	20x	as long as short
edgeX IONQUSDClong	+0.0927%	4h	40.222	long leg	$1K	$188K	10x