Funding arb · Price arb /

IONQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0788%/8h= +86.3% APRpaid last 24h −0.021%

Price spread now: edgeX against Gate−0.197%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$180as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1531.532% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$27 on $10k

Price spread, last 4 days (all we have)+0.258%+$26 · spread now −0.197%, 7d avg −0.079%

Together, before fees−0.007%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.118% cheaper against Gate than usual: you would sell low and buy high (spread −0.197% now, against its 7-day average of −0.079%). If the spread goes back, that is −$12 on $10k: about 12 hours of funding at the current rate (+$24 a day). Mind the row above: over the last 7 days funding on this pair cost −0.265%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.265% in total (about -13.8% 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	Gate IONQ_USDT	40.440	0	get 0.0000% / 8h	2h 51m	$504K	$473K	20x
Short	edgeX IONQUSDC	40.360	0.0788	get 0.0394% / 4h	2h 51m	$1K	$187K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now −0.197%Rate

Funding earned: $165.42
Price spread: −0.197% → −0.079%: −$11.83
Slippage, 4 orders: −$129.23
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $0.36
Costs to cover: 1.532%
Break-even: 7.0 days

Slippage from Gate: live order book, 60 min ago; edgeX: 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 Gate live order book, 60 min ago	22.13 bp	31.7 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 60 min ago	7.37 bp	47.0 bp −$47	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
Bitget IONQUSDT	−0.0141%	8h	40.440	0.000%	$1.5M	$409K	20x	as long as short
Binance IONQUSDT	0.0000%	8h	40.397	−0.107%	$736K	$1.3M	20x	as long as short
Bybit IONQUSDT	0.0000%	8h	40.380	−0.148%	$678K	$249K	25x	as long as short
OKX IONQ-USDT-SWAP	0.0000%	8h	40.430	−0.025%	$133K	$268K	20x	as long as short
QFEX IONQ-USD	0.0000%	1h	40.350	−0.223%	$1.1M	$538K	10x	as long as short
Gate IONQ_USDTlong	0.0000%	8h	40.440	long leg	$504K	$473K	20x
HTX IONQ-USDT	0.0000%	8h	40.420	−0.049%	$7K	$18K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.400	−0.099%	$696K	$101K	20x	as long as short
BloFin IONQ-USDT	+0.0022%	8h	40.390	−0.124%	$49K	$9K	20x	as long as short
KuCoin IONQUSDTM	+0.0100%	8h	40.460	+0.049%	$35K	$2.9M	20x	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Entropy io:IONQ	+0.0109%	1h	40.347	−0.230%	$45K	$175K	10x	as long as short
edgeX IONQUSDCshort	+0.0788%	4h	40.360	−0.197%	$1K	$187K	10x