Funding arb · Price arb /

IONQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0502%/8h= +55.0% APRpaid last 24h −0.006%

Price spread now: QFEX against edgeX−0.078%57s7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$990.988% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.142%−$14 on $10k

Price spread, last 4 days (all we have)−0.221%−$22 · spread now −0.078%, 7d avg −0.176%

Together, before fees−0.363%+ Points / potential airdropedgeX: Active · farm board−$36 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and QFEX is 0.098% dearer against edgeX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.176%. Mind the row above: over the last 4 days funding on this pair cost −0.142%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.142% in total (about -14.6% 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	40.812	−0.0502	get 0.0251% / 4h	1h 06m	$1K	$187K	10x
Short	QFEX IONQ-USD	40.780	0	get 0.0000% / 1h	6m 37s	$1.1M	$536K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.078%Rate

Funding earned: $105.49
Price spread: −0.078% → −0.176%: $9.83
Slippage, 4 orders: −$79.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: $16.51
Costs to cover: 0.988%
Break-even: 5.9 days

Slippage from edgeX: live order book, 55 min ago; QFEX: live order book, 4 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, 55 min ago	6.14 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.45 bp	10.7 bp −$11	18.9 bp −$189	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
edgeX IONQUSDClong	−0.0502%	4h	40.812	long leg	$1K	$187K	10x
BloFin IONQ-USDT	−0.0022%	8h	40.830	+0.045%	$6K	$6K	20x	as long as short
Binance IONQUSDT	0.0000%	8h	40.800	−0.029%	$733K	$1.3M	20x	as long as short
Bybit IONQUSDT	0.0000%	8h	40.810	−0.004%	$683K	$255K	25x	as long as short
OKX IONQ-USDT-SWAP	0.0000%	8h	40.820	+0.020%	$135K	$272K	20x	as long as short
QFEX IONQ-USDshort	0.0000%	1h	40.780	−0.078%	$1.1M	$536K	10x
Gate IONQ_USDT	0.0000%	8h	40.820	+0.020%	$509K	$495K	20x	as long as short
Bitget IONQUSDT	0.0000%	8h	40.810	−0.004%	$1.5M	$393K	20x	as long as short
HTX IONQ-USDT	0.0000%	8h	40.790	−0.053%	$7K	$18K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.810	−0.004%	$702K	$104K	20x	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	40.910	+0.241%	$38K	$2.9M	20x	as long as short
Entropy io:IONQ	+0.0287%	1h	40.776	−0.088%	$47K	$174K	10x	as long as short