Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.040%
Price spread now: Phemex against Binance−0.017%7-day average −0.023% · you buy dearer than you sell
Net, funding: paid 7d − costs−$96as in the Funding arb table
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1221.218% of the position
Funding, last 7 days+0.260%+$26 on $10k
+Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.017%, 7d avg −0.023%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COPPERUSDT | 6.8152 | 0 | get 0.0000% / 4h | 2h 14m | $9.3M | $33.4M | 100x |
| Short | Phemex COPPERUSDT | 6.8140 | 0 | get 0.0000% / 4h | 2h 14m | $4.2M | $80K | 100x |
Binance COPPERUSDT
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0
- Price spread: −0.017% → −0.023%
- $0.56
- Slippage, 4 orders
- −$99.79
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$121.23
- Costs to cover
- 1.218%
- Break-even
- never at this rate
Slippage from Binance: live order book, 12 min ago; Phemex: live order book, 5 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 | 0.73 bp | 6.3 bp −$6 | 11.2 bp −$112 | 56.6 bp −$5,656 | doesn't fit |
| Sell Phemex live order book, 5 min ago | 1.47 bp | 50.7 bp −$51 | doesn't fit | 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 | −0.0481% | 1h | 6.8153 | +0.002% | $34K | $176K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0029% | 4h | 6.8120 | −0.046% | $88K | $139K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0016% | 1h | 6.8120 | −0.046% | $10.5M | $5.0M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8140 | −0.017% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8160 | +0.012% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8152 | long leg | $9.3M | $33.4M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8100 | −0.076% | $498K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7980 | −0.252% | $1.3M | $529K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8140 | −0.017% | $26.1M | $4.8M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8140 | −0.017% | $2.9M | $2.0M | 100x | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.099% | $739K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8144 | −0.011% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8150 | −0.002% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | −0.046% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8140 | −0.017% | $4.2M | $80K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8140 | −0.018% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8094 | −0.084% | $94K | $320K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8106 | −0.067% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8232 | +0.118% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8148 | −0.006% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8125 | −0.039% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8125 | −0.039% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8123 | −0.042% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8052 | −0.146% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8143 | −0.013% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8180 | +0.042% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8200 | +0.071% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8145 | −0.010% | $311 | — | 10x | as long as short |
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP