Funding you earn now, next payment 05:00 UTC−0.0287%/8h= −31.4% APRpaid last 24h −0.132%
Price spread now: Phemex against Entropy−0.015%7-day average +0.052% · you buy dearer than you sell
Net, funding: paid 7d − costs−$178as in the Funding arb table
Net, price: spread back to 7d avg − costs−$147as in the Price arb table
costs, in and out, $10k−$1401.400% of the position
Funding, last 7 days−0.383%−$38 on $10k
+Price spread, last 4 days (all we have)+0.118%+$12 · spread now −0.015%, 7d avg +0.052%
=Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Phemex is 0.067% cheaper against Entropy than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.052%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Entropy io:IONQ | 40.606 | 0.0287 | pay 0.0036% / 1h | 47m 08s | $45K | $171K | 10x |
| Short | Phemex IONQUSDT | 40.600 | 0 | get 0.0000% / 8h | 3h 47m | $699K | $100K | 20x |
Entropy io:IONQ
Phemex IONQUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Entropy. 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
- −$60.27
- Price spread: −0.015% → +0.052%
- −$6.67
- Slippage, 4 orders
- −$110.04
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$206.98
- Costs to cover
- 1.400%
- Break-even
- never at this rate
Slippage from Entropy: live order book, 38 min ago; Phemex: live order book, 5 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 Entropy live order book, 38 min ago | 8.95 bp | 28.2 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 3.68 bp | 42.8 bp −$43 | 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 | −0.0030% | 8h | 40.620 | +0.034% | $49K | $6K | 20x | as long as short |
| Binance IONQUSDT | 0.0000% | 8h | 40.599 | −0.018% | $731K | $1.2M | 20x | as long as short |
| Bybit IONQUSDT | 0.0000% | 8h | 40.600 | −0.015% | $680K | $248K | 25x | as long as short |
| OKX IONQ-USDT-SWAP | 0.0000% | 8h | 40.580 | −0.064% | $133K | $269K | 20x | as long as short |
| QFEX IONQ-USD | 0.0000% | 1h | 40.580 | −0.064% | $1.1M | $504K | 10x | as long as short |
| Gate IONQ_USDT | 0.0000% | 8h | 40.640 | +0.084% | $507K | $476K | 20x | as long as short |
| Bitget IONQUSDT | 0.0000% | 8h | 40.700 | +0.231% | $1.5M | $381K | 20x | as long as short |
| HTX IONQ-USDT | 0.0000% | 8h | 40.580 | −0.064% | $7K | $18K | 10x | as long as short |
| Phemex IONQUSDTshort | 0.0000% | 8h | 40.600 | −0.015% | $699K | $100K | 20x | |
| KuCoin IONQUSDTM | +0.0100% | 8h | 40.720 | +0.281% | $39K | $2.9M | 20x | as long as short |
BloFin IONQ-USDT
Binance IONQUSDT
Bybit IONQUSDT
OKX IONQ-USDT-SWAP
QFEX IONQ-USD
Gate IONQ_USDT
Bitget IONQUSDT
HTX IONQ-USDT
KuCoin IONQUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Entropy io:IONQlong | +0.0287% | 1h | 40.606 | long leg | $45K | $171K | 10x | |
| edgeX IONQUSDC | +0.0863% | 4h | 40.595 | −0.027% | $1K | $188K | 10x | as long as short |
edgeX IONQUSDC