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Generated Nov 9, 2026
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growth playbook · Nov 9, 2026

qfex.com (opens in a new tab)

QFEX growth playbook

Diagnosis

QFEX is a 14-person, General Catalyst and YC-backed exchange that already lists 236 markets and shows about $386M in daily volume on CoinGecko. The product is ahead of the marketing.

Every market page serves the same generic homepage title, the homepage hero image makes real visitors wait 4.4 seconds, the best fee offer sits below the fee tables, the research newsletter has no route to trading, and third-party listings contradict each other on leverage and KYC.

This playbook first makes the 236 markets findable and the offer clear. It then turns QFEX's unique assets into growth: weekend price data, the agent-ready CLI, builder codes and Chinese docs. The big bets are a pre-IPO valuation board, exchange-as-a-service for regional apps, and an institutional roll-replacement pilot.

Growth Score

7/10

Biggest Opportunity

Each of the 236 markets is its own search and its own story ("trade KOSPI at night", "Brent on a Sunday", "pre-IPO valuations"). QFEX has the data and the API to own these searches, but its pages currently say nothing to search engines or AI assistants.

Biggest Risk

Liquidity and trust: Hyperliquid's HIP-3 markets, Ostium and the large CEXs compete for the same traders, and conflicting public claims about leverage and KYC make a young venue look less reliable than it is.

01

Start here

The three moves to make first. Each one is written up in full below.

  1. 1

    Give each of the 236 market pages its own title, description and contract summary, so a search for the market finds QFEX

    Write the title and description template and apply it to the 10 most-traded markets (US100, US500, XLF, BRENT, AMD and so on).

    High impact First result in 4-6 weeks
  2. 2

    Shrink the 5.4 MB homepage hero image: real visitors wait 4.4 seconds for it and fail Core Web Vitals

    Export the hero at 1600 px and 800 px in AVIF and WebP and swap it in.

    High impact First result in 1 week
  3. 3

    Lead the fee page with the lifetime 1.5 bps rate, and say plainly who gets it

    Decide in one sentence who qualifies for the lifetime tier today.

    High impact First result in 2-4 weeks

02

Your idea portfolio

22 ideas, grouped by when to run them. Open any idea for how to run it: the steps, who to approach, copy you can use, and how to measure it.

  • 7 ideas are marked Unexpected: plays you are unlikely to have tried.

Every idea placed by the effort it takes against the impact it could have. Quick wins sit top left; select a number to open that idea. The filters below narrow the list by status, timing, category and what Programmable can build.

Effort vs impactEach number is an idea. Select one to open it.
Impact →
Quick wins · 2Big bets · 9Fill-ins · 6Reconsider · 5
Effort →

Showing 22 of 22 ideas

This week 6

Quick wins with a clear first action.

  • 01

    QFEX's sitemap lists 236 market pages, from NVDA and Brent to SK Hynix, KOSPI and Nifty. Fetched without running JavaScript, every one we checked (NVDA-USD, CL-USD, SKHYNIX-KRW) returns only the homepage title and no text. To a search engine on its first pass, to most AI assistants and to link previews on X or Telegram, the SK Hynix page looks the same as the oil page and says nothing about either market. Meanwhile CoinGecko already describes QFEX's 236 pairs, $386M daily volume and $377M open interest. Third parties tell QFEX's market story better than its own pages do.

    High impactMedium effort First result in 4-6 weeks Frontend Engineer

    First action

    Write the title and description template and apply it to the 10 most-traded markets (US100, US500, XLF, BRENT, AMD and so on).

    How to measure it

    Organic clicks to market pages

    Now
    –
    Target
    3x the current baseline
    By
    90 days

    Steps

    1. 1

      Baseline

      Search Console impressions and clicks for /trade/*, and which titles Google currently shows for them.

      Growth Lead 1 day

    2. 2

      Write the template

      Title, description and header copy per asset class: US stocks, indices, commodities, Asian listings, pre-IPO.

      Growth Lead 2 days

    3. 3

      Pull the facts

      Contract, price source, funding, fee tier and 24h stats from the refdata and market-stats endpoints, cached every few minutes.

      Backend Engineer 3 days

    4. 4

      Server-render

      Header, title, description, canonical, Open Graph and structured data in the first HTML response.

      Frontend Engineer 1 week

    5. 5

      Add FAQ and notices

      Closed-market behaviour, funding, risk warning and restricted locations, reviewed once for the whole template.

      Compliance Lead 2 days

    6. 6

      Build the /markets hub

      All markets grouped by region and asset class, linked from the homepage and footer.

      Frontend Engineer 3 days

    7. 7

      Refresh the sitemap

      Add lastmod dates and resubmit.

      Frontend Engineer 1 hour

    8. 8

      Measure

      Impressions, clicks and signups per market page, monthly.

      Growth Lead monthly

    First result
    4-6 weeks
    Cost
    About two weeks of engineering time
    Owner
    Frontend Engineer

    Smallest test

    Render titles and descriptions for the 10 most-traded markets and compare their impressions with 10 untouched markets after four weeks.

    Why it works

    Server-render a short, factual header on every /trade/<market> page, above the unchanged trading app. It needs a unique title ("SK Hynix perpetual futures (SKHYNIX-KRW): trade 24/7 | QFEX"), a meta description, the underlying and its price source, hourly funding, the fee for that asset class, how the market behaves while the home exchange is closed, and current 24h volume and open interest from QFEX's own API. Add canonical and Open Graph tags, structured data, a four-question FAQ, and the risk and eligibility notice. Write the copy by asset class (US stocks, indices, commodities, Asian listings, pre-IPO) so the pages are not near-duplicates, and link them from a /markets hub grouped by region and asset class.

    Each market is its own search ("trade KOSPI at night", "Brent price on Sunday", "Nasdaq 100 weekend"), and the content already exists in the docs and the market-data API. One template fixes 236 pages at once, and every shared link starts showing the market's name and price instead of the generic title.

    Ready to use

    CopyMarket page header template

    Title: {Name} perpetual futures ({SYMBOL}): trade 24/7 | QFEX
    Description: Trade {Name} perpetual futures around the clock on QFEX. Funding every hour, {fee} taker fee, price from {source}. 24h volume {vol}.
    H1: {Name} ({SYMBOL}) perpetual
    Facts: Underlying | Price source | Funding: hourly | Fee tier | When {home exchange} is closed: {rule}
    Live: 24h volume | Open interest | Funding rate
    FAQ: Can I trade {Name} at the weekend? / How is the price set when the market is closed? / What does it cost? / Who can trade?
    Notice: risk warning and restricted locations

    Risks and how to handle them

    • 236 near-identical pages look thin

      Write copy per asset class and include live, market-specific numbers on every page.

    • Promotional wording reaches restricted locations

      Compliance signs off the template once, and every page carries the eligibility notice.

    Evidence

    • Your websiteMarket pages (fetched November 9, 2026, without running JavaScript): /trade/NVDA-USD, /trade/CL-USD and /trade/SKHYNIX-KRW, like /lossback and /press, return only the homepage title line "QFEX - The first 24/7 exchange only for global equities and commodities", with no market name, description or contract details.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source
    • CoinGeckoQFEX listing (checked November 9, 2026): 24h volume $386.0M and open interest $376.7M across 236 pairs; top volume US100, US500 and XLF; top open interest BRENT, US100 and AMD; the listing calls QFEX both a "Decentralized Exchange" and a "24/7 Perps CEX for RWAs requiring no KYC".Source
    • Your docsPublic market-data API includes an earnings and economic calendar, settlement calendar, funding and open-interest history, underlier history, a public leaderboard and a DefiLlama metrics endpoint, plus OpenAPI and AsyncAPI specs.Source
  • 02

    Google's field data shows real QFEX visitors waiting 4.36 seconds for the main content (the target is 2.5 s), with interaction delay at 254 ms (target 200 ms), so the homepage fails Core Web Vitals. The page weighs 6.8 MB, 5.4 MB of it images, and the slowest element is the hero image. On a phone test it takes 23 seconds to appear. For a venue selling speed, the first impression is slow.

    High impactLow effort First result in 1 week Frontend Engineer

    First action

    Export the hero at 1600 px and 800 px in AVIF and WebP and swap it in.

    How to measure it

    Homepage field LCP (p75)

    Now
    –
    Target
    Under 2.5 s
    By
    60 days

    Steps

    1. 1

      Compress the hero

      AVIF/WebP, responsive sizes, explicit dimensions.

      Frontend Engineer half a day

    2. 2

      Preload it

      fetchpriority=high on the hero only.

      Frontend Engineer 1 hour

    3. 3

      Lazy-load the rest

      Images below the fold.

      Frontend Engineer 2 hours

    4. 4

      Split the JavaScript

      Keep the trading app bundle off the homepage.

      Frontend Engineer 2 days

    5. 5

      Re-test

      PageSpeed mobile and desktop.

      Frontend Engineer 1 hour

    6. 6

      Track field data

      Core Web Vitals report over 28 days, and signup rate.

      Growth Lead monthly

    First result
    1 week (lab), 4 weeks (field)
    Cost
    $0, about 3 days of engineering
    Owner
    Frontend Engineer

    Smallest test

    Swap the hero file today and re-run PageSpeed.

    Why it works

    Serve the hero as a modern, responsive image (AVIF or WebP at 2-3 sizes), preload it, lazy-load everything below the fold, and cut the 395 KB of unused JavaScript by splitting the trading app's code from the marketing page. Re-test with PageSpeed and watch the field data over the following 28 days.

    Most of the weight is one avoidable asset, and faster first paint lifts signups, especially on mobile connections in Asia where many 24/7 traders browse.

    Risks and how to handle them

    • The hero looks worse

      Compare at quality 60-75 before shipping.

    Evidence

    • Google PageSpeedHomepage, tested November 9, 2026: mobile performance 67 (desktop 77). Real visitors fail Core Web Vitals: LCP 4.36 s and INP 254 ms at the 75th percentile. Lab mobile LCP 23.0 s; the page weighs 6.8 MB, of which 5.4 MB is images (3.5 MB saveable), plus 395 KB of unused JavaScript; the LCP element is the hero image.Source
    • Your websiteHomepage title "QFEX - The first 24/7 exchange only for global equities and commodities" (a year earlier: "The only 24/7 Exchange for US equities, commodities and FX"); meta description "QFEX is the first exchange that brings 24/7, high frequency direct trading to confident investors, without the need for a broker."Source
  • 03

    The fee page opens with tier tables in which a new single-stock taker pays 0.10%. The best offer QFEX has, the lowest tier for life on listed products (0 bps maker, 1.5 bps taker on equities, 0.6 bps on indices), comes later and is worded for "existing depositors" from 24 August 2026. A trader comparing venues sees the 0.10% first and cannot tell whether depositing today earns the lifetime rate.

    High impactLow effort First result in 2-4 weeks Growth Lead

    First action

    Decide in one sentence who qualifies for the lifetime tier today.

    How to measure it

    First-deposit conversion

    Now
    –
    Target
    +15%
    By
    60 days

    Steps

    1. 1

      Decide eligibility

      Who qualifies today, for which products, and until when.

      CEO 1 day

    2. 2

      Rewrite the top

      One sentence and one comparison table.

      Growth Lead half a day

    3. 3

      Show it in context

      A fee line on market pages and the deposit screen.

      Frontend Engineer 2 days

    4. 4

      Add a worked example

      Cost of a $10,000 NVDA trade at standard versus lifetime rates.

      Growth Lead 1 hour

    5. 5

      Announce

      X and research newsletter post.

      Growth Lead 1 day

    6. 6

      Measure

      Deposits before and after.

      Growth Lead monthly

    First result
    2-4 weeks
    Cost
    Staff time only
    Owner
    Growth Lead

    Smallest test

    Move the lifetime-tier paragraph above the tables today.

    Why it works

    Rewrite the top of the fee page as one sentence and one table: who qualifies (deposit before or after which date, which products), the rate they get, and how it compares with the standard tiers. Add a "your fee" line to each market page and to the deposit screen. If the offer is closed to new depositors, say so and show the best rate a new trader can reach, including the invitation-code discount.

    Perps traders shop on fees. A clear, believable lifetime rate is a reason to deposit now, and removing the ambiguity also cuts support questions.

    Risks and how to handle them

    • Committing to a lifetime rate for too many traders

      Name the products and a closing date explicitly.

    Evidence

    • Your docsFees: maker-taker, set by trailing 30-day Effective Volume (2x commodities, 2x indices, 5x single stocks). The entry tier charges takers 0.05% on commodities and indices and 0.10% on single stocks. "From 00:01 UTC on 24 August 2026", existing depositors get the lowest tier for life on listed products including US100, NVDA, AAPL, TSLA and MSTR: 0 bps maker, 1.5 bps taker on equities and 0.6 bps on indices.Source
    • Your docsFAQ: QFEX does not onboard new users from locations including the United States, United Kingdom, Ukraine, Syria, Iran, Russia, North Korea, Myanmar, Belarus, Venezuela and Sudan. Funding is "computed and paid every 1 hour, not 8 hours"; a 500 ms speed bump on non-ALO add orders protects market makers; invitation codes give a fee discount.Source
  • 04

    QFEX Research publishes serious microstructure work (16 posts, the latest on October 28, 2026, including "Your First Hft Alpha from Flow Prediction"), but the only call to action is Subscribe. The readers are exactly the systematic traders the API, CLI and no-real-funds UAT sandbox were built for, and nothing invites them to try their idea on QFEX.

    Medium impactLow effort First result in 2 weeks Growth Lead

    First action

    Add the box to the three most-read posts.

    How to measure it

    Research-sourced API keys

    Now
    –
    Target
    50 a month
    By
    90 days

    Steps

    1. 1

      Write the box

      Two lines, one snippet, two links.

      Growth Lead 1 hour

    2. 2

      Tag links

      UTM per post.

      Growth Lead 1 hour

    3. 3

      Backfill

      All 16 posts.

      Research Engineer 1 day

    4. 4

      Welcome email

      Sandbox invitation for new subscribers.

      Growth Lead half a day

    5. 5

      Notebook per post

      A runnable notebook that pulls QFEX data.

      Research Engineer ongoing

    6. 6

      Measure

      Signups and API keys by post.

      Growth Lead monthly

    First result
    2 weeks
    Cost
    $0
    Owner
    Growth Lead

    Smallest test

    Add the box to the latest post and count clicks for two weeks.

    Why it works

    End every post with a two-line box: "Run this on live QFEX data", linking to the market-data API (no credentials needed) and the UAT sandbox, with a short code snippet from the post. Add the same box to the Substack about page and welcome email, and tag the links so research-sourced signups can be counted.

    The reader has just learned a technique, so the most natural next step is to test it, and the sandbox removes the risk of real funds.

    Risks and how to handle them

    • Readers see the research as a sales pitch

      Keep the box at the end and make it about trying the technique.

    Evidence

    • Research newsletterQFEX Research on Substack ("Frontier market microstructure research from the QFEX team"): 16 posts, latest "Desired Orders Are Not Live Orders" (October 28, 2026), including "Your First Hft Alpha from Flow Prediction" and "A Deep Dive Into Clob Microstructure"; the homepage's only call to action is Subscribe, with no link to trade or to the API.Source
    • Your docsAgentic trading and builders: the QFEX CLI returns JSON for every command, "qfex agents init" sets up AI coding agents, and the UAT environment "uses the same interface as production but does not use real funds". Builder codes let integrators keep up to 50% of the trading fees of users who trade through their app via QFEX OAuth.Source
  • 05

    The places traders and journalists check first disagree. QFEX's YC profile says US equities, commodities and FX "with leverages of up to 100x"; launch coverage says up to 50x; sponsored research says 10x on single stocks, 30x on gold and indices and 50x on FX; the homepage now says "only for global equities and commodities". CoinGecko tags QFEX as "requiring no KYC" although KYC is described as mandatory.

    Medium impactLow effort First result in 2-4 weeks Growth Lead

    First action

    List every public number for leverage and KYC and pick the correct one.

    How to measure it

    Consistent listings

    Now
    –
    Target
    All 5 main listings
    By
    45 days

    Steps

    1. 1

      Collect claims

      Homepage, YC, CoinGecko, DefiLlama and press.

      Growth Lead half a day

    2. 2

      Agree the facts

      Leverage, KYC, markets and custody.

      Compliance Lead 1 day

    3. 3

      Publish the sheet

      Dated, with an update log.

      Growth Lead 1 day

    4. 4

      Request corrections

      CoinGecko and DefiLlama listing updates.

      Growth Lead 1 week

    5. 5

      Update YC

      Company profile text.

      CEO 1 hour

    6. 6

      Review quarterly

      Recheck all listings.

      Growth Lead quarterly

    First result
    2-4 weeks
    Cost
    $0
    Owner
    Growth Lead

    Smallest test

    Update the YC profile and file the CoinGecko correction this week.

    Why it works

    Publish one dated fact sheet (/facts or a docs page) covering markets by asset class, maximum leverage by asset class, KYC and eligibility, custody, fees and funding. Then ask CoinGecko, DefiLlama and YC to update their profiles to match, and link the sheet from the press page.

    Consistent facts build trust for a young venue, and a wrong "no KYC" tag attracts exactly the users QFEX has to turn away, while putting off institutions.

    Risks and how to handle them

    • Listings are slow to update

      Link the fact sheet in every request and follow up.

    Evidence

    • HiringResearch Engineer (London, $150K-$250K, 0.10%-0.50% equity): researches exchange design, microstructure, venue latency and exchange data and turns the findings into changes to the matching engine, margin system and fee model; builds risk and margin dashboards, liquidation simulators, market surveillance and reconciliation pipelines. The YC profile lists a team of 14 and US equities, commodities and FX "with (or without) leverages of up to 100x".Source
    • PressFintech Global (March 5, 2026): QFEX launched with a $9.5m seed round at a $95m valuation led by General Catalyst, with Y Combinator and Paul Graham; it cites leverage of up to 50x and says expiry rollovers "reportedly cost traders an estimated $5bn each year".Source
    • Industry researchFour Pillars (sponsored by QFEX, April 2, 2026): leverage of 10x on single stocks, 30x on gold and indices, 50x on FX; positions capped at 50% of normal overnight and 10% at weekends; funding set to zero while markets are closed; mandatory KYC; customer funds segregated at BitGo Bank & Trust; rivals named include Hyperliquid, trade.xyz (HIP-3), Binance, OKX and Bybit.Source
    • CoinGeckoQFEX listing (checked November 9, 2026): 24h volume $386.0M and open interest $376.7M across 236 pairs; top volume US100, US500 and XLF; top open interest BRENT, US100 and AMD; the listing calls QFEX both a "Decentralized Exchange" and a "24/7 Perps CEX for RWAs requiring no KYC".Source
  • 06

    Besides the markets, QFEX's sitemap lists only a handful of pages (/rewards, /lossback, /daily-auction, /strategies, /managed, /affiliates). Fetched without JavaScript, they too return only the homepage title. A trader who gets a link to a promotion in a group chat sees a generic preview, and the terms are invisible to search engines and assistants.

    Medium impactLow effort First result in 2 weeks Growth Lead

    First action

    Write the three-line summary for /rewards.

    How to measure it

    Promotion-page signups

    Now
    –
    Target
    +25%
    By
    60 days

    Steps

    1. 1

      Inventory

      Each promotion and its current rules.

      Growth Lead half a day

    2. 2

      Write summaries

      What, who, how, terms.

      Growth Lead 1 day

    3. 3

      Compliance check

      Wording and eligibility.

      Compliance Lead 1 day

    4. 4

      Server-render

      Title, description and summary in the HTML.

      Frontend Engineer 2 days

    5. 5

      Test previews

      X, Telegram and Discord link cards.

      Growth Lead 1 hour

    6. 6

      Measure

      Signups per page.

      Growth Lead monthly

    First result
    2 weeks
    Cost
    Staff time only
    Owner
    Growth Lead

    Smallest test

    Fix the /rewards title and preview first.

    Why it works

    Give each page a server-rendered summary: what it is, who qualifies, how it works, the key terms and a link to the full rules in the docs. Use a specific title and description so link previews show the offer. Have compliance check the wording once.

    Promotions spread by link sharing, and a clear preview plus readable terms turn shared links into signups while avoiding misunderstandings.

    Risks and how to handle them

    • Terms change and pages go stale

      Render the summary from the same source as the docs.

    Evidence

    • Your websiteMarket pages (fetched November 9, 2026, without running JavaScript): /trade/NVDA-USD, /trade/CL-USD and /trade/SKHYNIX-KRW, like /lossback and /press, return only the homepage title line "QFEX - The first 24/7 exchange only for global equities and commodities", with no market name, description or contract details.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source

This quarter 11

The core plays for the next three months.

  • 07

    QFEX already maintains a full Simplified Chinese edition of its docs (about 163 pages) and lists Korean, Japanese, Chinese, Hong Kong, Taiwanese and Indian markets (SK Hynix, Samsung, Hyundai, KOSPI, Kioxia, SoftBank, HSI, TAIEX, Nifty). Yet qfex.com is English only. Traders searching in their own language for their home market at night find nothing from QFEX.

    High impactMedium effort First result in 2 months Growth Lead

    First action

    Ask compliance which Asian locations are in scope for local-language marketing.

    How to measure it

    Local-language signups

    Now
    –
    Target
    15% of new signups
    By
    2 quarters

    Steps

    1. 1

      Scope

      Locations and languages cleared for marketing.

      Compliance Lead 1 week

    2. 2

      Reuse glossary

      Terms from the Chinese docs.

      Growth Lead 2 days

    3. 3

      Translate core pages

      Homepage, fees, fact sheet.

      Growth Lead 2 weeks

    4. 4

      Translate market pages

      Asian listings first, via the idea 1 template.

      Frontend Engineer 2 weeks

    5. 5

      Add hreflang

      And a language switcher.

      Frontend Engineer 2 days

    6. 6

      Native review

      Each page checked by a native-speaking trader.

      Community Manager 1 week

    7. 7

      Measure

      Signups and deposits by language.

      Growth Lead monthly

    First result
    2 months
    Cost
    Translation review, a few thousand dollars
    Owner
    Growth Lead

    Smallest test

    Publish the KOSPI and SK Hynix pages in Korean and compare impressions.

    Why it works

    Translate the homepage, fees, fact sheet and the Asian market pages into Simplified Chinese first, then Korean, reusing the docs' terminology. Add hreflang tags and a language switcher, and route traffic only where compliance confirms QFEX may serve, keeping the restricted-location notice on every page.

    Translation is partly done already, the markets are local favourites, and 24/7 access matters most to traders whose home market keeps different hours.

    Risks and how to handle them

    • Marketing into locations QFEX cannot serve

      Compliance scope first; restricted-location notice on every page.

    Builds on

    Evidence

    • Your docsThe docs have a full Simplified Chinese edition (about 163 pages, from About and FAQ to API keys, the CLI and the Terms of Use), while qfex.com itself is English only.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source
    • Your docsFAQ: QFEX does not onboard new users from locations including the United States, United Kingdom, Ukraine, Syria, Iran, Russia, North Korea, Myanmar, Belarus, Venezuela and Sudan. Funding is "computed and paid every 1 hour, not 8 hours"; a 500 ms speed bump on non-ALO add orders protects market makers; invitation codes give a fee discount.Source
  • 08

    When cash and futures markets are shut, QFEX's index and stock prices come from its own order book (the docs describe an impact-price EMA when the index price is stale). That makes QFEX's weekend price a forecast of Monday's open that no cash exchange produces. US100 and US500 are already QFEX's two most-traded pairs.

    High impactMedium effort First result in 1-2 months Research Engineer

    First action

    Backtest the last 12 weekends for US100 and US500 from the underlier and candles history.

    How to measure it

    Report-sourced signups

    Now
    –
    Target
    200 a month
    By
    2 quarters

    Steps

    1. 1

      Backtest

      12 weekends of Sunday price versus Monday open.

      Research Engineer 1 week

    2. 2

      Define the method

      Timestamps, markets and the error measure.

      Research Engineer 2 days

    3. 3

      Automate

      Chart and table generated each Monday.

      Research Engineer 1 week

    4. 4

      Compliance wording

      Not investment advice; past accuracy is no guarantee.

      Compliance Lead 1 day

    5. 5

      Publish weekly

      Site, newsletter and X.

      Growth Lead weekly

    6. 6

      Pitch press

      Markets reporters and newsletters.

      CEO monthly

    7. 7

      Track

      Citations and signups.

      Growth Lead monthly

    First result
    1-2 months
    Cost
    Research time
    Owner
    Research Engineer

    Smallest test

    Publish one backtest thread for the last 12 weekends.

    Why it works

    Every Monday, publish a short report and chart: QFEX's Sunday-night price for US100, US500, Brent, gold and the top stocks against Monday's actual open, with the gap and how well QFEX anticipated it. Keep a running accuracy record. Send it to financial journalists and post the chart on X and the research newsletter.

    Journalists want to know what the weekend means for Monday. A dated, measurable record is quotable proof that the venue is open and its prices mean something.

    Risks and how to handle them

    • A bad week looks embarrassing

      Publish the running record, not single weeks; honesty builds credibility.

    Evidence

    • Your docsContract specifications: equities track real-time US exchange feeds; the index price source is last close plus the change in the index future; when the index price is stale, the mark follows order-book impact prices with a 30-minute EMA; CL, COPPER and NATGAS roll across the final five CME business days.Source
    • CoinGeckoQFEX listing (checked November 9, 2026): 24h volume $386.0M and open interest $376.7M across 236 pairs; top volume US100, US500 and XLF; top open interest BRENT, US100 and AMD; the listing calls QFEX both a "Decentralized Exchange" and a "24/7 Perps CEX for RWAs requiring no KYC".Source
    • Your docsPublic market-data API includes an earnings and economic calendar, settlement calendar, funding and open-interest history, underlier history, a public leaderboard and a DefiLlama metrics endpoint, plus OpenAPI and AsyncAPI specs.Source
  • 09

    QFEX's market-data API already includes an earnings and economic calendar, and most of the 236 markets are single stocks whose biggest moves happen after hours on earnings nights, exactly when a 24/7 venue matters. No page connects the two.

    Medium impactMedium effort First result in 1 month Growth Lead

    First action

    Pull next month's earnings dates for the 20 most-traded stocks.

    How to measure it

    Earnings-week organic visits

    Now
    –
    Target
    +50% versus other weeks
    By
    2 quarters

    Steps

    1. 1

      Pull the calendar

      From the earnings endpoint.

      Backend Engineer 1 day

    2. 2

      Design the block

      Date, hours, stats, last reaction.

      Growth Lead 2 days

    3. 3

      Render it

      On market pages during earnings week.

      Frontend Engineer 1 week

    4. 4

      Compliance wording

      Factual, no predictions.

      Compliance Lead 1 day

    5. 5

      Weekly roundup

      Monday post listing the week's reports.

      Growth Lead weekly

    6. 6

      Measure

      Visits and signups in earnings weeks.

      Growth Lead monthly

    First result
    1 month
    Cost
    Engineering time
    Owner
    Growth Lead

    Smallest test

    Add earnings blocks for five stocks reporting next month.

    Why it works

    For each listed stock, generate a section on its market page during earnings week: the report date and time, what QFEX trading hours mean around the release, recent funding and open interest, and how the price behaved after the last report. Promote the week's list every Monday.

    Earnings searches peak predictably, and the pages build themselves from data QFEX already publishes.

    Risks and how to handle them

    • Looks like encouraging event gambling

      Keep the block factual and show the risk notice.

    Builds on

    Evidence

    • Your docsPublic market-data API includes an earnings and economic calendar, settlement calendar, funding and open-interest history, underlier history, a public leaderboard and a DefiLlama metrics endpoint, plus OpenAPI and AsyncAPI specs.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source
  • 10

    Builder codes let an app keep up to 50% of the trading fees of users who trade through it, with QFEX OAuth and full OpenAPI and AsyncAPI specs. That is a strong offer, but there is no public page listing who has built on QFEX, and Ostium sells its API as "one integration" for 70+ markets.

    High impactMedium effort First result in 2 months Head of Business Development

    First action

    List 30 candidate tools and the five with the most active traders.

    How to measure it

    Builder-code share of volume

    Now
    –
    Target
    10%
    By
    2 quarters

    Steps

    1. 1

      Shortlist

      30 tools, ranked by active traders.

      Head of Business Development 1 week

    2. 2

      Write the offer

      Fee share, support and launch help.

      Head of Business Development 2 days

    3. 3

      Outreach

      Founders of the top 15.

      Head of Business Development 1 month

    4. 4

      Integration support

      Engineer office hours on the OAuth and WebSocket flow.

      Backend Engineer ongoing

    5. 5

      Integrations page

      Live builders with logos and links.

      Frontend Engineer 3 days

    6. 6

      Co-announce

      Joint posts at each launch.

      Growth Lead per launch

    7. 7

      Track

      Volume and new traders by code.

      Head of Business Development monthly

    First result
    2 months
    Cost
    Fee share plus staff time
    Owner
    Head of Business Development

    Smallest test

    Sign one terminal or bot builder and measure its first month.

    Why it works

    Pick the tools QFEX's target traders already use (trading terminals, Telegram trading bots, portfolio trackers, charting tools) and offer each a launch package: integration help, a shared announcement, and a listing on a new /integrations page with their fee share. Track volume by builder code.

    Every integration brings an existing user base, and the builder is paid to keep promoting QFEX.

    Risks and how to handle them

    • Builders onboard users from restricted locations

      Eligibility stays enforced at QFEX onboarding; builder terms spell this out.

    Evidence

    • Your docsAgentic trading and builders: the QFEX CLI returns JSON for every command, "qfex agents init" sets up AI coding agents, and the UAT environment "uses the same interface as production but does not use real funds". Builder codes let integrators keep up to 50% of the trading fees of users who trade through their app via QFEX OAuth.Source
    • Your docsPublic market-data API includes an earnings and economic calendar, settlement calendar, funding and open-interest history, underlier history, a public leaderboard and a DefiLlama metrics endpoint, plus OpenAPI and AsyncAPI specs.Source
    • Competitor researchOstium's homepage: "Prime-grade execution on Real World Asset perpetuals", 70+ markets across equities, indices, commodities, FX and crypto, "$53B+" cumulative volume and a published $26.45M gold trade with "0.018% slippage"; backers include General Catalyst. trade.xyz's homepage: "Trade anything, anytime.", "24/7 liquidity", "no gatekeepers".Source
  • 11

    QFEX is unusually ready for agent-driven trading: a CLI that returns JSON for every command, a one-line "qfex agents init" setup for coding agents, and a UAT environment with no real funds. Developers building trading agents need a safe place to test, and few traditional-asset venues offer one.

    Medium impactMedium effort First result in 1-2 months CTO

    First action

    Time a new engineer going from zero to a first UAT order using the current docs.

    How to measure it

    New sandbox developers

    Now
    –
    Target
    300 a quarter
    By
    2 quarters

    Steps

    1. 1

      Time the path

      Zero to first UAT order.

      CTO 1 day

    2. 2

      Starter repo

      Example agent with risk limits built in.

      Backend Engineer 1 week

    3. 3

      10-minute guide

      Docs page and short video.

      Growth Lead 3 days

    4. 4

      Sandbox leaderboard

      UAT-only, monthly.

      Backend Engineer 1 week

    5. 5

      Launch

      Developer communities and the research newsletter.

      Growth Lead 1 week

    6. 6

      Graduate builders

      Invite the top entrants to builder codes.

      Head of Business Development monthly

    First result
    1-2 months
    Cost
    Engineering time and small prizes
    Owner
    CTO

    Smallest test

    Publish the starter repo and count first UAT orders for a month.

    Why it works

    Publish a starter repository and a 10-minute guide that takes a developer from install to an agent trading US100 in UAT. Run a monthly sandbox competition with a public leaderboard (UAT only, no real money), and invite the best builders to the builder-code program.

    Developers choose the venue their agent already works with, and a sandbox competition creates content and a pool of builders without anyone risking money.

    Risks and how to handle them

    • Agents misbehave once on real funds

      Starter repo ships with position and loss limits; production requires explicit opt-in.

    Builds on

    Evidence

    • Your docsAgentic trading and builders: the QFEX CLI returns JSON for every command, "qfex agents init" sets up AI coding agents, and the UAT environment "uses the same interface as production but does not use real funds". Builder codes let integrators keep up to 50% of the trading fees of users who trade through their app via QFEX OAuth.Source
    • Research newsletterQFEX Research on Substack ("Frontier market microstructure research from the QFEX team"): 16 posts, latest "Desired Orders Are Not Live Orders" (October 28, 2026), including "Your First Hft Alpha from Flow Prediction" and "A Deep Dive Into Clob Microstructure"; the homepage's only call to action is Subscribe, with no link to trade or to the API.Source
  • 12

    QFEX pays approved affiliates 30% of fees, rising to 50%, and gives invitees a 10% discount, but affiliates must work out for themselves what to post. With 236 markets, the best affiliate content is specific ("oil is moving on a Sunday, here is where it trades"), and that needs market links and assets ready to share.

    Medium impactLow effort First result in 1 month Community Manager

    First action

    Generate tagged deep links for the top 20 markets.

    How to measure it

    Affiliate-referred volume

    Now
    –
    Target
    +40%
    By
    2 quarters

    Steps

    1. 1

      Deep links

      Every market with the code attached.

      Frontend Engineer 2 days

    2. 2

      Weekly pack

      Charts from ideas 8 and 9.

      Community Manager weekly

    3. 3

      Caption templates

      Compliant wording with the risk notice.

      Compliance Lead 2 days

    4. 4

      Affiliate hub

      One page with the kit.

      Community Manager 3 days

    5. 5

      Onboard

      Walk current affiliates through it.

      Community Manager 2 weeks

    6. 6

      Review

      Results at the 90-day trial mark.

      Head of Business Development quarterly

    First result
    1 month
    Cost
    Staff time; commissions already budgeted
    Owner
    Community Manager

    Smallest test

    Give the kit to five affiliates for one month.

    Why it works

    Build an affiliate kit: deep links to every market page with the affiliate code attached, a weekly pack of charts from the weekend gap report and the earnings calendar, compliant caption templates, and the eligibility notice. Review affiliates at the end of the 90-day trial using the kit's tracked links.

    Affiliates promote what is easy to post, and timely, market-specific content converts better than a generic "sign up" link.

    Risks and how to handle them

    • Affiliates overstate returns or leverage

      Approved templates only; remove affiliates who break the rules.

    Builds on

    Evidence

    • Your docsReferral and affiliate program: invitees get a 10% fee discount; referrers earn 10% / 2% / 1% across three levels, rising to 20% / 4% / 2% at $30M+ referred 30-day volume; approved affiliates earn 30%, rising to 50% at $150M+, after a 90-day trial.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source
  • 13

    Research published in April described QFEX capping positions at 50% of normal size overnight and 10% at weekends, with funding set to zero while markets are closed. These are sensible protections, but a trader who meets a cap for the first time on a Friday evening, without warning, is likely to blame the venue and leave.

    Medium impactMedium effort First result in 1-2 months CTO

    First action

    Count support tickets and account closures that mention limits or weekends.

    How to measure it

    Active-trader 30-day retention

    Now
    –
    Target
    +10%
    By
    2 quarters

    Steps

    1. 1

      Confirm rules

      Current overnight and weekend caps per asset class.

      Research Engineer 1 day

    2. 2

      Measure friction

      Tickets and churn tied to caps.

      Community Manager 2 days

    3. 3

      Banner

      Countdown before each window.

      Frontend Engineer 3 days

    4. 4

      Order-ticket note

      When an order would exceed the coming cap.

      Frontend Engineer 1 week

    5. 5

      Alerts

      Opt-in email or push for affected positions.

      Backend Engineer 1 week

    6. 6

      Measure

      Retention and tickets before and after.

      Growth Lead monthly

    First result
    1-2 months
    Cost
    Engineering time
    Owner
    CTO

    Smallest test

    Send one Friday email to affected traders and compare their Monday activity.

    Why it works

    Confirm the current rules, then show them where they matter: a countdown banner before each overnight and weekend window, a note in the order ticket when a new order would exceed the coming cap, and an optional email or push alert on Friday afternoon (US time) for affected positions. Explain the rules on each market page.

    Rules that are expected feel fair; surprises cause churn and support tickets.

    Risks and how to handle them

    • Too many warnings

      Only warn traders whose positions are affected.

    Evidence

    • Industry researchFour Pillars (sponsored by QFEX, April 2, 2026): leverage of 10x on single stocks, 30x on gold and indices, 50x on FX; positions capped at 50% of normal overnight and 10% at weekends; funding set to zero while markets are closed; mandatory KYC; customer funds segregated at BitGo Bank & Trust; rivals named include Hyperliquid, trade.xyz (HIP-3), Binance, OKX and Bybit.Source
    • Your docsContract specifications: equities track real-time US exchange feeds; the index price source is last close plus the change in the index future; when the index price is stale, the mark follows order-book impact prices with a 30-minute EMA; CL, COPPER and NATGAS roll across the final five CME business days.Source
  • 14

    QFEX's founding pitch is that perpetuals "will save institutional traders billions of dollars in rolling costs", and launch coverage cites an estimated $5bn a year in roll costs. But there is no tool that shows a fund its own number, and the commodity contracts even document their roll windows.

    Medium impactMedium effort First result in 2 months Head of Business Development

    First action

    Write the cost model for US100 and Brent with the Research Engineer.

    How to measure it

    Qualified institutional leads

    Now
    –
    Target
    20 a quarter
    By
    2 quarters

    Steps

    1. 1

      Model

      Roll costs and QFEX costs for 4 markets.

      Research Engineer 1 week

    2. 2

      Review assumptions

      Conservative, with sources.

      Head of Business Development 2 days

    3. 3

      Build the page

      Inputs, comparison, method notes.

      Frontend Engineer 1 week

    4. 4

      Detailed report

      PDF behind a contact form.

      Growth Lead 3 days

    5. 5

      Outreach

      Send to prop firms and funds in permitted locations.

      Head of Business Development ongoing

    6. 6

      Track

      Leads and onboardings.

      Head of Business Development monthly

    First result
    2 months
    Cost
    Engineering and research time
    Owner
    Head of Business Development

    Smallest test

    Send a hand-built estimate to five prop firms.

    Why it works

    Build a calculator: the fund enters its typical position in index, oil or gold futures; the page estimates annual roll costs (spreads, slippage, roll days) and compares them with QFEX's fees at the lifetime rate plus historic funding from the API. Gate a detailed PDF behind a contact form for institutions.

    Institutions buy on numbers, and a personalised estimate opens a conversation that a general claim cannot.

    Risks and how to handle them

    • Funding costs on perps can exceed roll costs

      Show both honestly, with historic funding ranges.

    Builds on

    Evidence

    • YC launchYC launch post: "the first API-native exchange"; perps "will save institutional traders billions of dollars in rolling costs"; "Futures haven't changed since the first standardized contract was made in 1865."Source
    • PressFintech Global (March 5, 2026): QFEX launched with a $9.5m seed round at a $95m valuation led by General Catalyst, with Y Combinator and Paul Graham; it cites leverage of up to 50x and says expiry rollovers "reportedly cost traders an estimated $5bn each year".Source
    • Your docsContract specifications: equities track real-time US exchange feeds; the index price source is last close plus the change in the index future; when the index price is stale, the mark follows order-book impact prices with a 30-minute EMA; CL, COPPER and NATGAS roll across the final five CME business days.Source
  • 15

    The first question about any young venue is liquidity. Ostium answers it on its homepage with "$53B+" cumulative volume and a $26.45M gold trade at "0.018% slippage". QFEX's numbers live only on CoinGecko, and its new Research Engineer is being hired to build exactly the dashboards (venue latency, risk, surveillance) that could answer it publicly.

    High impactMedium effort First result in 6 weeks Research Engineer

    First action

    Compute last month's spreads and depth for US100, US500 and Brent.

    How to measure it

    Report-assisted first deposits

    Now
    –
    Target
    10% of first deposits
    By
    2 quarters

    Steps

    1. 1

      Pick the measures

      Spread, depth, slippage, uptime, latency.

      Research Engineer 2 days

    2. 2

      Build the pipeline

      From order-book and trade history.

      Research Engineer 2 weeks

    3. 3

      Design the page

      Top 20 markets, weekend split.

      Frontend Engineer 1 week

    4. 4

      Review

      Method and wording.

      CTO 2 days

    5. 5

      Publish monthly

      Site, newsletter, X.

      Growth Lead monthly

    6. 6

      Use in sales

      Send to institutions and makers.

      Head of Business Development ongoing

    First result
    6 weeks
    Cost
    Research and engineering time
    Owner
    Research Engineer

    Smallest test

    Publish one month for three markets.

    Why it works

    Each month, publish median spread, depth within 10 bps, slippage for $10k, $100k and $1M orders, uptime and matching latency for the top 20 markets, with a weekend/weekday split. Link it from the homepage and every market page, and send it to institutions and market makers.

    Measured proof turns liquidity doubts into a comparison QFEX can win on its best markets, and the monthly cadence shows improvement over time.

    Risks and how to handle them

    • Thin markets look bad

      Report the top 20 and show the trend.

    Evidence

    • HiringResearch Engineer (London, $150K-$250K, 0.10%-0.50% equity): researches exchange design, microstructure, venue latency and exchange data and turns the findings into changes to the matching engine, margin system and fee model; builds risk and margin dashboards, liquidation simulators, market surveillance and reconciliation pipelines. The YC profile lists a team of 14 and US equities, commodities and FX "with (or without) leverages of up to 100x".Source
    • Competitor researchOstium's homepage: "Prime-grade execution on Real World Asset perpetuals", 70+ markets across equities, indices, commodities, FX and crypto, "$53B+" cumulative volume and a published $26.45M gold trade with "0.018% slippage"; backers include General Catalyst. trade.xyz's homepage: "Trade anything, anytime.", "24/7 liquidity", "no gatekeepers".Source
    • CoinGeckoQFEX listing (checked November 9, 2026): 24h volume $386.0M and open interest $376.7M across 236 pairs; top volume US100, US500 and XLF; top open interest BRENT, US100 and AMD; the listing calls QFEX both a "Decentralized Exchange" and a "24/7 Perps CEX for RWAs requiring no KYC".Source
  • 16

    Funding is spread across docs pages: bank transfers are USD-only ACH taking "1-3 business days", withdrawals cost 0.1% plus $1 (ACH) or $10 (wire), and stablecoin deposits are documented separately. The lifetime fee offer depends on being a depositor. A new trader has to read several docs pages to work out the fastest way to start.

    Medium impactLow effort First result in 3 weeks Growth Lead

    First action

    Measure the share of signups that deposit within 7 days.

    How to measure it

    7-day deposit rate

    Now
    –
    Target
    +20%
    By
    60 days

    Steps

    1. 1

      Baseline

      7-day deposit rate by signup source.

      Growth Lead 1 day

    2. 2

      Write the page

      Routes, times, fees, troubleshooting.

      Growth Lead 2 days

    3. 3

      In-app checklist

      Verify, fund, first trade.

      Frontend Engineer 1 week

    4. 4

      48-hour email

      Nudge with the fee offer.

      Growth Lead 2 days

    5. 5

      Support macros

      Answers for slow deposits.

      Community Manager 1 day

    6. 6

      Measure

      Deposit rate weekly.

      Growth Lead weekly

    First result
    3 weeks
    Cost
    Staff time only
    Owner
    Growth Lead

    Smallest test

    Send the 48-hour email to one week of signups.

    Why it works

    Build one "Fund your account" page and an in-app checklist: each route (stablecoin, bank), the time to credit, minimums, fees in and out, and what to do if a deposit is slow. Follow up by email with signups who have not deposited within 48 hours, linking to this page and the fee offer.

    The gap between signup and first deposit is where exchanges lose most new users, and clarity about time and cost removes the main hesitation.

    Risks and how to handle them

    • Routes vary by location

      Show only routes available to the signed-in user.

    Builds on

    Evidence

    • Your docsFunding: bank transfers are USD-only ACH, "Processing time: 1-3 business days"; withdrawals cost 0.1% + $1 (ACH) or 0.1% + $10 (wire); stablecoin deposits are documented on a separate page.Source
    • Your docsFees: maker-taker, set by trailing 30-day Effective Volume (2x commodities, 2x indices, 5x single stocks). The entry tier charges takers 0.05% on commodities and indices and 0.10% on single stocks. "From 00:01 UTC on 24 August 2026", existing depositors get the lowest tier for life on listed products including US100, NVDA, AAPL, TSLA and MSTR: 0 bps maker, 1.5 bps taker on equities and 0.6 bps on indices.Source
  • 17

    QFEX's economics depend on high-volume traders: the fee tiers run to $400M+ of monthly effective volume, the referral tiers reward traders who bring others, and the invite-only Managed Account Strategy is reserved for high-volume traders who have deposited at least USD 50,000. Yet there is no public sign of a relationship programme for the accounts that matter most.

    Medium impactLow effort First result in 1 month Head of Business Development

    First action

    List the top 50 accounts and their last 90 days of volume.

    How to measure it

    Top-50 volume retention

    Now
    –
    Target
    90% month over month
    By
    2 quarters

    Steps

    1. 1

      List accounts

      Top 50 by 90-day volume.

      Head of Business Development 1 day

    2. 2

      Assign contacts

      One named person per account.

      CEO 1 day

    3. 3

      Build the review

      Volume, tier, fees, fills.

      Research Engineer 1 week

    4. 4

      First calls

      Introduce the contact, gather issues.

      Head of Business Development 2 weeks

    5. 5

      Monthly send

      Review plus fixes made.

      Head of Business Development monthly

    6. 6

      Track

      Volume retention and issues closed.

      Head of Business Development monthly

    First result
    1 month
    Cost
    Staff time only
    Owner
    Head of Business Development

    Smallest test

    Call the top 10 accounts this month.

    Why it works

    Assign the top 50 accounts by volume a named contact. Each month, send a one-page review: volume, fee tier, fees paid against what other tiers would cost, fill quality and any issues. Use the review to invite eligible traders to referral tiers, subaccounts and, where they qualify, the managed account.

    Large traders leave venues over silence and unresolved issues, and a personal review costs little next to the fees they generate.

    Risks and how to handle them

    • A small team gets stretched

      Automate the review; calls only for issues.

    Evidence

    • Your docsManaged Account Strategy (launched August 1, 2026): invite-only, market-neutral, for high-volume traders who have deposited at least USD 50,000; 0 bps taker, 0% management and performance fees in the early phase; book closed daily by 16:00 ET.Source
    • Your docsFees: maker-taker, set by trailing 30-day Effective Volume (2x commodities, 2x indices, 5x single stocks). The entry tier charges takers 0.05% on commodities and indices and 0.10% on single stocks. "From 00:01 UTC on 24 August 2026", existing depositors get the lowest tier for life on listed products including US100, NVDA, AAPL, TSLA and MSTR: 0 bps maker, 1.5 bps taker on equities and 0.6 bps on indices.Source
    • Your docsReferral and affiliate program: invitees get a 10% fee discount; referrers earn 10% / 2% / 1% across three levels, rising to 20% / 4% / 2% at $30M+ referred 30-day volume; approved affiliates earn 30%, rising to 50% at $150M+, after a 90-day trial.Source

Big bets 3

Larger plays that can change the trajectory.

  • 18

    QFEX's pre-IPO perpetuals use a reference share count of one billion, so the price reads directly as a valuation ($200 means $200 billion). That makes QFEX a live, round-the-clock valuation feed for the most talked-about private companies, a number journalists and investors look for every time one of them raises money.

    High impactHigh effort First result in 1 quarter CEO

    First action

    Mock up the board with today's pre-IPO markets and their implied valuations.

    How to measure it

    Monthly citations of QFEX valuations

    Now
    –
    Target
    10 a month
    By
    3 quarters

    Steps

    1. 1

      Legal review

      How valuations may be presented and attributed.

      Compliance Lead 2 weeks

    2. 2

      Data

      Valuation, change, open interest per market.

      Backend Engineer 1 week

    3. 3

      Funding-round context

      Last public round per company, sourced.

      Research Engineer 1 week

    4. 4

      Build the board

      Server-rendered, with risk notes.

      Frontend Engineer 3 weeks

    5. 5

      Widget and feed

      Embeddable chart with attribution.

      Frontend Engineer 2 weeks

    6. 6

      Media outreach

      Tech and finance reporters.

      CEO ongoing

    7. 7

      Track

      Citations, embeds and signups.

      Growth Lead monthly

    First result
    1 quarter
    Cost
    1-2 months of engineering plus legal review
    Owner
    CEO

    Smallest test

    Post a weekly implied-valuation chart for two private companies on X.

    Why it works

    Build a public /pre-ipo board: each listed private company with its implied valuation, 24h and 30-day change, open interest, and a chart against its last reported funding round. Offer an embeddable widget and a free data feed for media with attribution, and show the risk notes (no ownership, oracle source, IPO may never happen) prominently.

    Implied valuations are quotable news, and every citation and embed brings traders to QFEX's most distinctive markets.

    Risks and how to handle them

    • Prices depend on an outside oracle

      Name the price source and show it next to the QFEX mark.

    • Thin markets produce noisy valuations

      Show open interest and hide markets below a liquidity floor.

    Builds on

    Evidence

    • Your docsPre-IPO stock perpetuals use a reference share count of 1,000,000,000, so a $200 price implies a $200 billion valuation; the price source is Binance's pre-IPO perpetual mark price; funding settles every 60 minutes, 24/7; the contract carries no ownership or shareholder rights.Source
    • Your websiteSitemap (checked November 9, 2026): 246 URLs, of which 236 are /trade market pages (US stocks and ETFs; indices such as US100, US500, KOSPI, NIKKEI, HSI, TAIEX and NIFTY; commodities such as CL, BRENT, GOLD, COPPER and URANIUM; Korean, Japanese, Chinese and Swedish listings; pre-IPO markets). The other 10 are /, /login, /signup, /trade, /rewards, /affiliates, /strategies, /lossback, /daily-auction and /managed. No lastmod dates and no blog, comparison or non-English pages.Source
  • 19

    QFEX calls itself "the first API-native exchange", and builder codes already let any app keep up to 50% of fees from users who trade through it via QFEX OAuth. Regional brokers, neobanks and wallets in markets QFEX can serve want to offer 24/7 US stock and commodity exposure but cannot build an exchange. The Chinese docs show QFEX already supports more than one language for integrators.

    High impactHigh effort First result in 2 quarters CEO

    First action

    List 20 regional apps in permitted locations that lack 24/7 US stock access.

    How to measure it

    Partner-app share of volume

    Now
    –
    Target
    20%
    By
    4 quarters

    Steps

    1. 1

      Map partners

      20 apps in permitted locations.

      Head of Business Development 2 weeks

    2. 2

      Compliance frame

      Who onboards, who is responsible for KYC.

      Compliance Lead 1 month

    3. 3

      Partner kit

      Widgets, OAuth guide, revenue share.

      CTO 1 month

    4. 4

      Pilot two partners

      Different regions.

      CEO 1 quarter

    5. 5

      Partner success

      Named contact and weekly metrics.

      Head of Business Development ongoing

    6. 6

      Decide scale

      Volume, cost and risk review.

      CEO after 2 quarters

    First result
    2 quarters
    Cost
    Engineering, legal and BD time
    Owner
    CEO

    Smallest test

    Sign one letter of intent with a regional wallet or broker.

    Why it works

    Package a partner offer for regulated or licensed regional apps: white-label market widgets, OAuth onboarding, a builder-code revenue share, a joint compliance checklist and a partner success contact. Start with two partners in different regions and measure volume per partner.

    One partner can bring thousands of traders, and the builder-code share means partners earn more as they grow QFEX volume.

    Risks and how to handle them

    • Regulatory exposure through partners

      Partners only in cleared locations; QFEX keeps final onboarding control.

    Builds on

    Evidence

    • Your docsAgentic trading and builders: the QFEX CLI returns JSON for every command, "qfex agents init" sets up AI coding agents, and the UAT environment "uses the same interface as production but does not use real funds". Builder codes let integrators keep up to 50% of the trading fees of users who trade through their app via QFEX OAuth.Source
    • YC launchYC launch post: "the first API-native exchange"; perps "will save institutional traders billions of dollars in rolling costs"; "Futures haven't changed since the first standardized contract was made in 1865."Source
    • Your docsThe docs have a full Simplified Chinese edition (about 163 pages, from About and FAQ to API keys, the CLI and the Terms of Use), while qfex.com itself is English only.Source
  • 20

    QFEX was founded to save institutions "billions of dollars in rolling costs", it describes a separate, extensive KYB process for institutions, and its Research Engineer is being hired to tune the matching engine, margin system and fee model. Retail volume proves the venue works; one institution moving a real futures book would prove the thesis.

    High impactHigh effort First result in 2 quarters CEO

    First action

    Use the roll-cost calculator (idea 14) to shortlist 10 firms with the largest potential saving.

    How to measure it

    Institutional share of volume

    Now
    –
    Target
    15%
    By
    4 quarters

    Steps

    1. 1

      Shortlist

      10 firms from calculator leads.

      Head of Business Development 2 weeks

    2. 2

      Design the pilot

      Scope, limits, success measures.

      CEO 2 weeks

    3. 3

      KYB and onboarding

      Fast-tracked institutional path.

      Compliance Lead 1 month

    4. 4

      Engineer support

      Named engineer per firm.

      CTO 90 days

    5. 5

      Cost report

      Rolls avoided, funding, slippage.

      Research Engineer end of pilot

    6. 6

      Publish

      Anonymised case study.

      Growth Lead after pilot

    First result
    2 quarters
    Cost
    Senior time and fee incentives
    Owner
    CEO

    Smallest test

    One prop firm, one market, 30 days.

    Why it works

    Recruit three funds or prop firms in permitted locations for a 90-day pilot. They run a slice of their index or commodity futures exposure on QFEX perps, with a named engineer, tailored risk limits, and a shared cost report (rolls avoided, funding paid, slippage) at the end. Publish the anonymised result.

    A measured institutional case study is the strongest sales asset an exchange can have, and pilot feedback shapes the margin and fee model.

    Risks and how to handle them

    • Regulatory frameworks for institutional perps are unsettled

      Pilot only where counsel confirms; keep sizes small.

    Builds on

    Evidence

    • YC launchYC launch post: "the first API-native exchange"; perps "will save institutional traders billions of dollars in rolling costs"; "Futures haven't changed since the first standardized contract was made in 1865."Source
    • PressFintech Global (March 5, 2026): QFEX launched with a $9.5m seed round at a $95m valuation led by General Catalyst, with Y Combinator and Paul Graham; it cites leverage of up to 50x and says expiry rollovers "reportedly cost traders an estimated $5bn each year".Source
    • Industry researchFour Pillars (sponsored by QFEX, April 2, 2026): leverage of 10x on single stocks, 30x on gold and indices, 50x on FX; positions capped at 50% of normal overnight and 10% at weekends; funding set to zero while markets are closed; mandatory KYC; customer funds segregated at BitGo Bank & Trust; rivals named include Hyperliquid, trade.xyz (HIP-3), Binance, OKX and Bybit.Source
    • HiringResearch Engineer (London, $150K-$250K, 0.10%-0.50% equity): researches exchange design, microstructure, venue latency and exchange data and turns the findings into changes to the matching engine, margin system and fee model; builds risk and margin dashboards, liquidation simulators, market surveillance and reconciliation pipelines. The YC profile lists a team of 14 and US equities, commodities and FX "with (or without) leverages of up to 100x".Source

Wildcards 2

Unexpected experiments, each with a cheap way to test it.

  • 21

    QFEX holds something no traditional exchange can publish: continuous weekend and overnight prices for US indices, big stocks and commodities, discovered on an order book. Its research newsletter already writes for a quantitative audience, and the API exposes candles, underlier history and funding history.

    Medium impactMedium effort First result in 1 quarter Research Engineer

    First action

    Ask two market-microstructure academics whether the data would be useful and in what format.

    How to measure it

    Dataset downloads

    Now
    –
    Target
    1,000 in the first year
    By
    4 quarters

    Steps

    1. 1

      Validate demand

      Two or three academics.

      Research Engineer 2 weeks

    2. 2

      Define the set

      Markets, fields, delay, licence.

      Research Engineer 1 week

    3. 3

      Legal check

      Licence and data rights.

      Compliance Lead 1 week

    4. 4

      Build the export

      Monthly refresh.

      Backend Engineer 2 weeks

    5. 5

      Launch post

      Research newsletter.

      Research Engineer 1 week

    6. 6

      Submit

      Academic data portals.

      Research Engineer 1 week

    First result
    1 quarter
    Cost
    Research time
    Owner
    Research Engineer

    Smallest test

    Share one month of weekend data with two researchers.

    Why it works

    Package a cleaned, delayed dataset (hourly weekend and overnight prices, volumes and funding for the top 30 markets, with the matching underlier closes) under a research licence that requires citation. Announce it with a research post, submit it to academic data portals, and invite researchers to share results in the newsletter.

    Academic papers and data portals cite their sources for years, building authority and backlinks with the quantitative audience QFEX wants.

    Risks and how to handle them

    • Third-party data rights in the underlier prices

      Publish only QFEX's own trades and marks, plus public closes.

    Builds on

    Evidence

    • Research newsletterQFEX Research on Substack ("Frontier market microstructure research from the QFEX team"): 16 posts, latest "Desired Orders Are Not Live Orders" (October 28, 2026), including "Your First Hft Alpha from Flow Prediction" and "A Deep Dive Into Clob Microstructure"; the homepage's only call to action is Subscribe, with no link to trade or to the API.Source
    • Your docsPublic market-data API includes an earnings and economic calendar, settlement calendar, funding and open-interest history, underlier history, a public leaderboard and a DefiLlama metrics endpoint, plus OpenAPI and AsyncAPI specs.Source
    • Your docsContract specifications: equities track real-time US exchange feeds; the index price source is last close plus the change in the index future; when the index price is stale, the mark follows order-book impact prices with a 30-minute EMA; CL, COPPER and NATGAS roll across the final five CME business days.Source
  • 22

    Brent is already QFEX's largest market by open interest, and industry research names Hyperliquid and trade.xyz as the rivals competing for the same 24/7 traders. When geopolitical or macro news breaks on a Saturday, cash and futures markets are shut and traders search for where oil, gold and indices are trading. The venue with a prepared response wins those traders.

    High impactMedium effort First result in First weekend event Growth Lead

    First action

    Draft the Brent explainer and the on-call rota.

    How to measure it

    Event-weekend signups

    Now
    –
    Target
    3x a normal weekend
    By
    first event after launch

    Steps

    1. 1

      Define triggers

      Which moves activate the plan.

      Research Engineer 2 days

    2. 2

      Draft explainers

      Oil, gold, indices.

      Growth Lead 1 week

    3. 3

      Compliance review

      Factual, with risk warnings.

      Compliance Lead 3 days

    4. 4

      Maker alert list

      Contacts to keep depth up.

      Head of Business Development 2 days

    5. 5

      On-call rota

      Engineering, support and posting.

      CTO 1 day

    6. 6

      Rehearse

      A dry run on a quiet weekend.

      Growth Lead half a day

    7. 7

      Review after each event

      What worked, what broke.

      CEO after each event

    First result
    First weekend event
    Cost
    Staff time only
    Owner
    Growth Lead

    Smallest test

    Publish the Brent weekend explainer as an evergreen page now.

    Why it works

    Prepare a weekend shock kit in advance: pre-written but unpublished explainer pages for oil, gold and index moves ("How QFEX prices Brent while ICE is closed"), a live market-move banner, post templates, a market-maker alert list to keep depth up, and a short internal on-call rota. After each event, publish the weekend-versus-Monday comparison (idea 8).

    Demand for a 24/7 venue peaks at unpredictable moments, and being ready with clear information during those hours builds the reputation the product promises.

    Risks and how to handle them

    • Looks like profiting from crises

      Stick to factual market access information, no hype.

    Builds on

    Evidence

    • CoinGeckoQFEX listing (checked November 9, 2026): 24h volume $386.0M and open interest $376.7M across 236 pairs; top volume US100, US500 and XLF; top open interest BRENT, US100 and AMD; the listing calls QFEX both a "Decentralized Exchange" and a "24/7 Perps CEX for RWAs requiring no KYC".Source
    • Industry researchFour Pillars (sponsored by QFEX, April 2, 2026): leverage of 10x on single stocks, 30x on gold and indices, 50x on FX; positions capped at 50% of normal overnight and 10% at weekends; funding set to zero while markets are closed; mandatory KYC; customer funds segregated at BitGo Bank & Trust; rivals named include Hyperliquid, trade.xyz (HIP-3), Binance, OKX and Bybit.Source
    • Your docsContract specifications: equities track real-time US exchange feeds; the index price source is last close plus the change in the index future; when the index price is stale, the mark follows order-book impact prices with a 30-minute EMA; CL, COPPER and NATGAS roll across the final five CME business days.Source
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See every playbook and website review

Independent research. Programmable wrote this playbook from public sources, as they stood on November 9, 2026, and cites them throughout. QFEX did not commission, review or endorse it, and Programmable is not affiliated with QFEX. Company and product names are trademarks of their owners, used only to identify them. The ideas are suggestions and opinion, not professional, legal or financial advice, and not statements about how QFEX runs its business.

Something wrong, or do you represent QFEX? Email [email protected] and we will correct it or take it down.

30/60/90 roadmap

What to focus on in each month, and the ideas that carry it.

  1. Days 1 to 306 ideas

    Make the 236 market pages findable, fix the homepage hero, put the lifetime fee offer first, link research to the sandbox, fix conflicting listings and explain the promotion pages.

  2. Days 31 to 6011 ideas

    Chinese and Asian market pages, the weekend gap report, earnings pages, builders, the agent kit, affiliates, position-cap alerts, the roll-cost calculator, execution reports, deposit onboarding and top-account care.

  3. Days 61 to 905 ideas

    Commit to the big bets (pre-IPO valuation board, exchange-as-a-service, institutional pilot) and the two wildcards.

The research behind the plan

3 research areas, each summarised in a few lines. Open any of them for the full detail.

Customers

What customers say

Customers value trading stocks, indices and commodities when cash markets are closed. The most cited problem: is there enough liquidity and depth?

  • Hourly funding and low fees for active traders
  • How does the price behave when the home exchange is closed?
  • In their words: “24/7”

Market

Competitive landscape

4 competitors compared: trade.xyz (Hyperliquid HIP-3), Ostium, Binance, OKX and Bybit and CFD brokers.

  • Gap to exploit: Search-visible, factual pages for each traditional-asset perp market
  • trade.xyz (Hyperliquid HIP-3): On-chain venue; different funding approach when markets are closed
  • Ostium: Fewer listed markets than QFEX's 236

Hiring signals

QFEX is a 14-person team hiring only engineers.

  • Research Engineer (London): Microstructure research, venue latency, risk dashboards and the fee model. Ideas 8, 15, 20, 21.
  • Backend Engineer (London or New York): Fault-tolerant, low-latency, always-on services. Ideas 1, 11, 13.

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