Funding arb · Price arb /

IONQ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h +0.006%

Price spread now: edgeX against QFEX+0.196%7-day average +0.175% · 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−$104as in the Price arb table

costs, in and out, $10k−$1061.060% of the position

Long on QFEX Short on edgeX

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)+0.043%+$4 · spread now +0.196%, 7d avg +0.175%

Together, before fees+0.185%+ Points / potential airdropedgeX: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.021% dearer against QFEX than usual: you sell high and buy low (spread +0.196% now, against its 7-day average of +0.175%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 36 hours. Mind the row above: over the last 4 days funding on this pair paid +0.142%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX IONQ-USD	40.770	0	get 0.0000% / 1h	11m 33s	$1.1M	$523K	10x
Short	edgeX IONQUSDC	40.850	−0.0048	pay 0.0024% / 4h	11m 33s	$1K	$188K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.196%Rate

Funding earned: −$9.98
Price spread: +0.196% → +0.175%: $2.14
Slippage, 4 orders: −$86.99
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$113.83
Costs to cover: 1.060%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; edgeX: live order book, 45 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, 4 min ago	2.45 bp	9.9 bp −$10	20.3 bp −$203	doesn't fit	doesn't fit
Sell edgeX live order book, 45 min ago	7.35 bp	43.1 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
edgeX IONQUSDCshort	−0.0048%	4h	40.850	+0.196%	$1K	$188K	10x
Binance IONQUSDT	0.0000%	8h	40.809	+0.096%	$732K	$1.2M	20x	as long as short
Bybit IONQUSDT	0.0000%	8h	40.830	+0.147%	$684K	$249K	25x	as long as short
OKX IONQ-USDT-SWAP	0.0000%	8h	40.820	+0.123%	$134K	$271K	20x	as long as short
QFEX IONQ-USDlong	0.0000%	1h	40.770	long leg	$1.1M	$523K	10x
Gate IONQ_USDT	0.0000%	8h	40.820	+0.123%	$509K	$490K	20x	as long as short
Bitget IONQUSDT	0.0000%	8h	40.830	+0.147%	$1.5M	$377K	20x	as long as short
HTX IONQ-USDT	0.0000%	8h	40.360	−1.006%	$6K	$18K	10x	as long as short
Phemex IONQUSDT	0.0000%	8h	40.820	+0.123%	$703K	$100K	20x	as long as short
BloFin IONQ-USDT	+0.0007%	8h	40.830	+0.147%	$49K	$6K	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	+0.0050%	1h	40.773	+0.007%	$45K	$173K	10x	as long as short
KuCoin IONQUSDTM	+0.0100%	8h	40.930	+0.392%	$40K	$2.9M	20x	as long as short