Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.063%
Price spread now: Lighter against Binance+0.147%7-day average +0.174% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$360.361% of the position
Funding, last 7 days+0.051%+$5 on $10k
+Price spread, last 4 days (all we have)−0.177%−$18 · spread now +0.147%, 7d avg +0.174%
=Together, before fees−0.127%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter is 0.028% cheaper against Binance than usual: you would sell low and buy high (spread +0.147% now, against its 7-day average of +0.174%). If the spread goes back, that is −$3 on $10k: about 2.9 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COPPERUSDT | 6.8281 | 0 | get 0.0000% / 4h | 3h 01m | $9.1M | $33.0M | 100x |
| Short | Lighter XCU | 6.8381 | 0.0032 | get 0.0004% / 1h | 1m 44s | $478K | $40K | 20x |
Binance COPPERUSDT
Lighter XCUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $6.72
- Price spread: +0.147% → +0.174%
- −$2.79
- Slippage, 4 orders
- −$26.13
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$32.2
- Costs to cover
- 0.361%
- Break-even
- 40.5 days
Slippage from Binance: live order book, 10 min ago; Lighter: live order book, 43 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, 10 min ago | 0.73 bp | 5.7 bp −$6 | 8.8 bp −$88 | 48.8 bp −$4,878 | doesn't fit |
| Sell Lighter live order book, 43 min ago | 2.34 bp | 16.2 bp −$16 | 20.5 bp −$205 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0403% | 1h | 6.8281 | 0.000% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0045% | 1h | 6.8258 | −0.034% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8280 | −0.001% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8285 | +0.006% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8281 | long leg | $9.1M | $33.0M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8243 | −0.056% | $490K | $970K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | −0.119% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8280 | −0.001% | $26.5M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8280 | −0.001% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8283 | +0.003% | $740K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8300 | +0.028% | $87K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8300 | +0.028% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.057% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8170 | −0.163% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8295 | +0.021% | $178K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0002% | 4h | 6.8300 | +0.028% | $88K | $136K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0016% | 4h | 6.8283 | +0.003% | $95K | $319K | 20x | as long as short |
| Lighter XCUshort | +0.0032% | 1h | 6.8381 | +0.147% | $478K | $40K | 20x | |
| Extended XCU-USD | +0.0032% | 1h | 6.8272 | −0.013% | $264K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8296 | +0.022% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8300 | +0.028% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8261 | −0.030% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8279 | −0.003% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8306 | +0.037% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8273 | −0.011% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8230 | −0.075% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8350 | +0.101% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8289 | +0.012% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP