IONQ

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0933%/8h= +102.2% APRnext payment +$1.17 per $10,000 · paid last 24h +0.133%

Price spread now: Entropy against QFEX+0.075%7-day average +0.146% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$110as in the Price arb table

costs, in and out, $10k−$1021.024% of the position

Long on QFEX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.219%+$22 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.075%, 7d avg +0.146%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.071% cheaper against QFEX than usual: you would sell low and buy high (spread +0.075% now, against its 7-day average of +0.146%). If the spread goes back, that is −$7 on $10k: about 6 hours of funding at the current rate (+$28 a day). At the pace of the last 4 days (+0.219% in total) that is about 29 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.219% in total (about 21.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.17 per $10,000. 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	QFEX IONQ-USD	40.170	0	get 0.0000% / 1h	50m 15s	$1.1M	$530K	10x
Short	Entropy io:IONQ	40.200	0.0933	get 0.0117% / 1h	50m 15s	$42K	$187K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against QFEX. 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 QFEXbpFee EntropybpOrdersPrice spread, now +0.075%Rate

Funding earned: $195.92
Price spread: +0.075% → +0.146%: −$7.14
Slippage, 4 orders: −$74.37
Fee QFEX: 5 bp × 2 orders: −$10
Fee Entropy: 9 bp × 2 orders: −$18
Net: $86.41
Costs to cover: 1.024%
Break-even: 3.9 days

Slippage from QFEX: live order book, 5 min ago; Entropy: live order book, 15 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 QFEX live order book, 5 min ago	3.73 bp	11.2 bp −$11	23.1 bp −$231	doesn't fit	doesn't fit
Sell Entropy live order book, 15 min ago	5.33 bp	36.8 bp −$37	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	−0.0332%	8h	40.250	+0.199%	$1.5M	$418K	20x	as long as short
Binance IONQUSDT	0.0000%	8h	40.216	+0.114%	$738K	$1.3M	20x	as long as short
Bybit IONQUSDT	0.0000%	8h	40.200	+0.075%	$678K	$255K	25x	as long as short
OKX IONQ-USDT-SWAP	0.0000%	8h	40.200	+0.075%	$132K	$267K	20x	as long as short
QFEX IONQ-USDlong	0.0000%	1h	40.170	long leg	$1.1M	$530K	10x
Gate IONQ_USDT	0.0000%	8h	40.220	+0.124%	$479K	$497K	20x	as long as short
HTX IONQ-USDT	0.0000%	8h	40.150	−0.050%	$7K	$17K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.220	+0.124%	$694K	$102K	20x	as long as short
BloFin IONQ-USDT	+0.0007%	8h	40.220	+0.124%	$49K	$9K	20x	as long as short
KuCoin IONQUSDTM	+0.0100%	8h	40.300	+0.324%	$38K	$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
edgeX IONQUSDC	+0.0912%	4h	40.202	+0.079%	$1K	$188K	10x	as long as short
Entropy io:IONQshort	+0.0933%	1h	40.200	+0.075%	$42K	$187K	10x