COPPER

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0036%/8h= −4.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.002%

Price spread now: BloFin against Binance−0.059%91s7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.365% of the position

Long on Binance Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 2 days (all we have)+0.049%+$5 · spread now −0.059%, 7d avg +0.010%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.069% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.010%). Swap the legs. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance COPPERUSDT	6.7980	0	get 0.0000% / 4h	1h 29m	$8.9M	$34.5M	100x
Short	BloFin COPPER-USDT	6.7940	−0.0036	pay 0.0018% / 4h	1h 29m	$87K	$149K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Binance. 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 BinancebpFee BloFinbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$7.63
Price spread: −0.059% → +0.010%: −$6.85
Slippage, 4 orders: −$14.53
Fee Binance: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$51.02
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; BloFin: live order book, 44 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 Binance live order book, 12 min ago	0.74 bp	6.0 bp −$6	9.0 bp −$90	55.0 bp −$5,499	doesn't fit
Sell BloFin live order book, 44 min ago	0.74 bp	12.1 bp −$12	20.0 bp −$200	69.3 bp −$6,926	doesn't fit

COPPER on 28 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
BloFin COPPER-USDTshort	−0.0036%	4h	6.7940	−0.059%	$87K	$149K	100x
QFEX COPPER-USD	−0.0015%	1h	6.7950	−0.044%	$1.5M	$135K	20x	as long as short
edgeX COPPERUSDC	−0.0004%	4h	6.7957	−0.034%	$93K	$318K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0003%	1h	6.7908	−0.106%	$10.4M	$5.3M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7961	−0.028%	$32K	$36K	50x	as long as short
Binance COPPERUSDTlong	0.0000%	4h	6.7980	long leg	$8.9M	$34.5M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.7942	−0.056%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7830	−0.221%	$1.3M	$499K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7970	−0.015%	$27.0M	$5.1M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7990	+0.015%	$1.7M	$1.0M	100x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni COPPER	0.0000%	4h	6.7967	−0.020%	$739K	$1.6M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.7981	+0.001%	$90K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7970	−0.015%	—	$7.7M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8000	+0.029%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.103%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7938	−0.062%	$176K	—	250x	as long as short
Lighter XCU	+0.0032%	1h	6.8057	+0.113%	$476K	$45K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7961	−0.028%	$231K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7931	−0.072%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7969	−0.017%	$1K	$3K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7935	−0.066%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7916	−0.094%	$56K	$55K	15x	as long as short
Kraken Futures PF_XCUUSD	+0.0060%	1h	6.7951	−0.043%	$26K	$176K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7955	−0.037%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7960	−0.029%	$258K	$26K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8030	+0.074%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7960	−0.030%	$311	—	10x	as long as short
Phoenix COPPER	+0.0329%	1h	6.7938	−0.062%	$45K	$30K	20x	as long as short