Perp tradingPerp DEX · Own matching engine (USDC margin)
QFEX
Author's status: ActiveTBAUpdated: 2026-10-01
I use it to trade US stock, index and FX perps around the clock.
TGE and points
- Phase
- TBANo token and no points announced. Airdrop talk is speculation.
- TGE
- Not announced
- Points program
- No points
Airdrop payout estimate
Includes estimates and placeholders
- FDV assumption
- $95M
- Airdrop share
- 10%
- Expected pool
- $9.5M
- Per point
- —
Basis: No token announced. The $95M FDV is the reported seed valuation; the 10% share is a placeholder.
Pool = FDV assumption × airdrop share. The value per point divides by the points issued so far, so it falls as more points are issued. The actual payout varies widely with the distribution method, locks and sybil filtering. The points you enter are saved only in this browser.
Team, funding and user base
- Base
- United Kingdom (London) (company HQ)
- Founders / leads
- Annanay Kapila (CEO), Joshua Wharton (CTO)The CEO is ex-Tower Research, the CTO ex-Citadel. Location per the Y Combinator company page.
- VC funding
- $9.5M$9.5M seed on 2026-03-05 led by General Catalyst (reported $95M valuation). Y Combinator Spring 2025 batch.
- Key investors
- General Catalyst, Y Combinator, Nexus Ventures, Moonfire Ventures, Goodwater Capital
- X followers
- 6.5K@QFEXas of 2026-09-20
Risks and caveats
- KYC is required for every user before trading.
- Japan is not among the prohibited countries in the official FAQ (US, UK, France, Spain, Russia and others; checked 2026-09-20).
- It calls itself a "hybrid", but custody and on-chain settlement are not clearly disclosed. There is counterparty risk.
- Whether it holds a regulatory license is unverified.
Links
Invite codes
QFEX is invite-only and asks for an invite code at sign-up. Each code works once and expires 14 days after it is issued, so some may already be used or expired. Try them from the top. Signing up with a code gives a 10% trading fee discount, and I receive a referral reward. (Replaced 2026-10-01)
Sources
- Y Combinator - QFEXaccessed 2026-09-20
- QFEX docs FAQaccessed 2026-09-20
- FinTech Global - QFEX launches with $9.5m seed2026-03-05
- QFEX docs - Referral Programaccessed 2026-09-20
This page is for information only and is not a solicitation to use any crypto asset or service. Airdrops and their amounts are not guaranteed, and you may lose the funds you deposit.