QFEX Airdrop: tasks and status

updated 22 Oct 2026

QFEX is a 24/7 trading platform offering perpetual futures on US equities, commodities, and forex with leverage up to 100x. The platform is running a loss refund campaign where selected participants can receive refunds on their trading losses, and a leaderboard system tied to future rewards based on trading volume.

Exchange

About the project

What Is QFEX

QFEX is a hybrid perpetual futures exchange designed for continuous market access across traditional financial assets. Built by former quantitative researchers and engineers from Citadel and Tower Research, the platform operates around the clock and offers trading in US equities, commodities, and foreign exchange.

The platform uses a brokerless architecture that connects traders directly to markets, reducing intermediaries and aiming for faster execution and lower costs. Trades can carry leverage up to 100x across all supported asset classes, giving traders exposure far beyond their initial capital.

How the Rewards Work

QFEX runs two complementary programs to reward early participants. The Loss Refund campaign offers eligible traders a chance at a 100% refund on realised losses, capped at 2,000 per week. However, only 20% of participating traders are selected randomly for compensation, so rewards are not guaranteed.

Alongside this, the platform tracks trading volume through a leaderboard system. Growing your volume positions you for potential future rewards as the ecosystem develops. The referral system adds another layer, offering a 10% discount on fees or commissions when you sign up through a referral link, and you can earn by inviting others through a multi-level system.

Who This Suits

QFEX is aimed at active traders and those comfortable with leveraged trading on traditional assets. Participants need to be willing to put capital at risk and engage in genuine trading activity to build volume. This is not a passive rewards program—rewards are tied to your trading behaviour and account performance.

The platform appeals to traders seeking 24/7 access to markets traditionally closed during certain hours, as well as those interested in participating early in a newly launched exchange.

What It Takes

Participation requires depositing a minimum amount (typically the cost estimate suggests around 100 in stablecoins like USDC or USDT) and spending around 35 minutes to set up your account and begin trading. You will need to complete account registration, set up deposits, and start executing trades.

The financial risk is significant since leveraged perpetual futures trading can result in rapid losses. Even with the loss refund campaign active, losses can exceed your refund allowance, and refunds are only granted to a small subset of participants chosen at random. High leverage amplifies both gains and losses.

Investor Backing

QFEX has raised 9.5 million in funding from a strong group of backers including Y Combinator, General Catalyst, Goodwater Capital, and others. The team's background in quantitative trading and engineering from leading trading firms gives it credibility in exchange design and execution technology.

Funding

$9.5M raised · 9 investors

  • Y Combinator
  • General Catalyst
  • Goodwater Capital
  • Liquid 2 Ventures
  • Moonfire Ventures
  • Nexus Venture Partners
  • 468 Capital
  • RitualVC
  • Paul Graham

Step-by-step checklist

How to qualify for the airdrop Open steps: 2 of 2
  1. 01 Join the Loss Refunds Campaign Starts 22 Sep 2026 Open
  2. 02 Trading on the Platform Open

These tasks are available in the CoinDropster dashboard: exact links, progress tracking and deadlines — open the app to see the checklist.

Risks and what to watch for

  • Leveraged perpetual futures trading can result in rapid and substantial losses. A 100x leverage means a 1% market move against your position can wipe out your entire deposit.
  • Only 20% of loss refund campaign participants are selected randomly for compensation. The majority of traders will not receive refunds even if they incur losses.
  • Losses can exceed the weekly refund cap of 2,000. Even with the loss refund program active, you could lose far more than the refund amount.
  • Realised profits offset losses when calculating loss refund eligibility. A profitable trade will reduce any refundable losses dollar-for-dollar, and unrealised losses do not count toward refunds.
  • The platform is newly launched and operates 24/7 across traditional markets. Technical issues, market disruptions, or unexpected operational challenges could affect your ability to trade or withdraw funds.

Frequently asked questions

What is the maximum loss refund I can receive?

The loss refund campaign offers a 100% refund on realised losses up to 2,000 per week. However, only 20% of participating traders are selected at random for compensation, so most participants will not receive a refund.

How much leverage can I trade with on QFEX?

QFEX allows perpetual futures trading with leverage up to 100x across all supported asset classes, including US equities, commodities, and foreign exchange.

What stablecoins does QFEX accept for deposits?

QFEX accepts USDC and USDT for deposits on its platform. Using a referral link at signup provides a 10% discount on fees or commissions.

How does the leaderboard system work?

QFEX tracks your trading volume on a leaderboard. Building volume positions you for eligibility toward future rewards as the platform continues to develop, though specific reward mechanics have not been detailed.

Can I invite others and earn rewards through referrals?

Yes, QFEX operates a multi-level referral system. You can copy your referral link in the Referrals tab and invite other users. Referrals also grant a 10% discount on commissions to both parties.