Funding arb · Price arb /

IONQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0608%/8h= −66.6% APRpaid last 24h +0.021%

Price spread now: Bitget against edgeX+0.059%94s7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$139as in the Funding arb table

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

costs, in and out, $10k−$1321.319% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.495%−$49 · spread now +0.059%, 7d avg +0.118%

Together, before fees−0.568%+ Points / potential airdropedgeX: Active · farm board−$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Bitget is 0.059% cheaper against edgeX than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.118%). Swap the legs. The two prices were read 94 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 7 days it paid -0.073% in total (about -3.8% 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	edgeX IONQUSDC	40.126	0.0287	pay 0.0144% / 4h	50m 01s	$1K	$188K	10x
Short	Bitget IONQUSDT	40.150	−0.0321	pay 0.0321% / 8h	50m 01s	$1.5M	$408K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$127.71
Price spread: +0.059% → +0.118%: −$5.85
Slippage, 4 orders: −$110.94
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$265.5
Costs to cover: 1.319%
Break-even: never at this rate

Slippage from edgeX: live order book, 52 min ago; Bitget: live order book, 2 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, 52 min ago	6.23 bp	39.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	11.21 bp	27.0 bp −$27	59.9 bp −$599	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 IONQUSDTshort	−0.0321%	8h	40.150	+0.059%	$1.5M	$408K	20x
BloFin IONQ-USDT	−0.0023%	8h	40.160	+0.084%	$49K	$9K	20x	as long as short
Binance IONQUSDT	0.0000%	8h	40.140	+0.035%	$739K	$1.3M	20x	as long as short
Bybit IONQUSDT	0.0000%	8h	40.140	+0.035%	$676K	$254K	25x	as long as short
OKX IONQ-USDT-SWAP	0.0000%	8h	40.100	−0.065%	$131K	$266K	20x	as long as short
Gate IONQ_USDT	0.0000%	8h	40.140	+0.035%	$485K	$506K	20x	as long as short
HTX IONQ-USDT	0.0000%	8h	40.150	+0.059%	$7K	$17K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.120	−0.015%	$692K	$102K	20x	as long as short
QFEX IONQ-USD	+0.0017%	1h	40.090	−0.090%	$1.1M	$513K	10x	as long as short
KuCoin IONQUSDTM	+0.0100%	8h	40.250	+0.309%	$37K	$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	+0.0173%	1h	40.096	−0.075%	$41K	$185K	10x	as long as short
edgeX IONQUSDClong	+0.0287%	4h	40.126	long leg	$1K	$188K	10x