Potential QFEX Airdrop » How to be eligible?

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Airdrop unconfirmed
Chain: Own chain

Ongoing

Jump to steps Updated 7 Oct 2026 · 7 steps

QFEX Waitlist Details

The QFEX airdrop is speculative. The team has not announced a token, a points program or a snapshot. The exchange itself is open to anyone outside the restricted countries, with no waitlist and no invitation code needed.

The closest thing to a token signal is a September 2026 essay on exchange tokens by CEO Annanay Kapila. It argues that exchanges should airdrop unvested tokens to their earliest users, without saying QFEX will launch one.

With no points dashboard, the only record is the one QFEX keeps for every account: volume, fees paid, deposits and referrals. Farmers treat it like other real-world asset perp venues such as RWAPerp and Ondo Perps, where the bet is to trade early and keep the account active.

Latest Update: Loss Refunds are back and now open to all users: 20% of eligible losing traders get 100% of their realized losses refunded, up to $2,000.

How to Participate in the QFEX Airdrop

Step 1: Create a QFEX Account

Go to the QFEX website and sign up. An invitation code is optional, but entering one at signup takes 10% off your trading fees. QFEX does not onboard users from the United States, United Kingdom, Spain, Ukraine and several sanctioned countries.

Step 2: Complete Onboarding

Finish the onboarding checks QFEX asks for after signup. Referral payouts are only available to accounts that have completed onboarding.

Step 3: Get USDC on Arbitrum

QFEX only accepts USDC on Arbitrum One for crypto deposits. You can buy USDC on Bybit and withdraw it straight to Arbitrum. If your funds are on another chain or in another token, the widget below will swap and bridge them over.

Bridge funds

Swap and bridge across 30+ chains without leaving this page.
Fast routes, low fees.

Opens an interactive bridge widget

Step 4: Deposit USDC to QFEX

Open Deposit / Withdraw in the account header and select Deposit funds, then choose USDC. Send your USDC on Arbitrum One to the address shown. Deposits sent on any other network or in another asset may be lost.

Step 5: Place Your First Trades

Open the trading page, pick a market and set your leverage. Limit orders rest on the book and pay maker fees, while market orders fill at once and pay taker fees.

Step 6: Unlock Invitation Codes

Trade $100,000 in notional volume within a rolling 14 days to receive five invitation codes. Each code works once and expires after 14 days. Referrers earn 10% of QFEX’s net fee from direct referrals at the default tier, plus 2% and 1% from the next two levels.

Step 7: Follow QFEX Announcements

Watch the QFEX X account and the QFEX Research blog. Any token or points news will appear there first.

How to Join QFEX Waitlist (Ended)

Visit the QFEX website
Click the waitlist signup button to access the registration form
Enter your email address in the signup field
Submit your registration details
Using our referral link fetches you 10% off trading fees on QFEX
Review the confirmation showing your estimated access timeline in days
Complete all platform tasks listed on your dashboard to expedite access
Share your unique referral link found to earn rewards
Track your referral earnings through the dashboard

Frequently Asked Questions

When Is the QFEX Airdrop?

QFEX has not announced an airdrop, a token or a TGE date. The exchange launched in March 2026, and the only official hint is a September 2026 essay by the CEO on why exchanges reward early users with tokens.

Is the QFEX Airdrop Free?

No. There are no free tasks on QFEX, so any farming means trading with real USDC and paying fees, spreads and funding. Entry-tier taker fees are 0.05% on indices and commodities and 0.10% on single stocks, and leveraged positions can be liquidated.

How Would QFEX Tokens Be Distributed?

Nobody knows yet. QFEX runs no points program and has published no allocation rules. If a token launches, the data the exchange already holds on each account (volume, fees, deposits and referrals) is the most likely basis, but the team has not confirmed any of it.

What Are QFEX Loss Refunds?

Loss Refunds are a QFEX promotion open to all users. QFEX refunds 100% of realized losses, up to $2,000, to 20% of eligible losing traders. Check the official QFEX announcement for the eligibility rules and campaign dates before trading for it.

Is the QFEX Waitlist Still Open?

QFEX no longer runs a waitlist. Anyone who meets QFEX’s onboarding requirements can create an account without an invitation code. A code is still worth using at signup, since it applies a 10% discount on trading fees.

Which Countries Can’t Use QFEX?

QFEX blocks new users from the United States, United Kingdom, Spain, Ukraine, Russia, Belarus, Iran, Syria, North Korea, Myanmar, Venezuela and Sudan, and says the list is not exhaustive. Check the restricted locations in the QFEX docs before you deposit.

Is There an Official QFEX Token?

No. QFEX has not issued a token, and no presale or claim exists. Any site or contract offering QFEX tokens today is unofficial. Read our safety guide before connecting a wallet to anything that claims otherwise.

Conclusion

QFEX has moved from a waitlist to a live exchange with 199 markets, but a QFEX token is still only an idea in the founder’s writing. Farming it means depositing USDC over Arbitrum and trading at a size you can afford.

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Requirements

What is QFEX?

QFEX is a perpetual futures exchange for traditional assets. Traders go long or short on US stocks, indices and commodities around the clock, with no broker in between and no expiry dates. There is no QFEX token yet, so the QFEX airdrop remains unconfirmed.

The exchange runs a central limit order book off chain and margins every account in USDC. Deposits arrive over Arbitrum, and client funds sit with the custodian BitGo. The docs list 199 active markets: single stocks at up to 10x leverage, indices at up to 30x, and commodities such as gold and oil at 20x to 30x. A handful of perps track private companies like OpenAI. Crypto traders will recognise the format from the Hyperliquid ecosystem.

Cambridge mathematicians Annanay Kapila and Joshua Wharton founded QFEX in 2025 after working at Tower Research and Citadel. The company went through Y Combinator and raised a $9.5 million seed round in March 2026, led by Yuri Sagalov of General Catalyst with Paul Graham participating. DefiLlama puts cumulative volume above $27 billion.

Which projects could airdrop next? Browse potential retroactive airdrops →

Funding

$9.5M

Difficulty

Easy

Cost to Farm

Medium

Overview

Website: qfex.com
Documentation: Visit now
X (Formerly Twitter):
Blog:
Github Repository: