Funding you earn now, next payment 00:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.53 per $10,000 · paid last 24h −0.041%
Price spread now: Binance against Bitget+0.063%7-day average −0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$340.338% of the position
Funding, last 7 days−0.031%−$3 on $10k
+Price spread, last 2 days (all we have)−0.087%−$9 · spread now +0.063%, 7d avg −0.005%
=The price spread pays, funding is against you. Binance is 0.068% dearer against Bitget than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of −0.005%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 7 days (−0.031% in total) that is about 15 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget COPPERUSDT | 6.7850 | 0.0106 | pay 0.0053% / 4h | 2h 44m | $1.6M | $1.1M | 100x |
| Short | Binance COPPERUSDT | 6.7893 | 0 | get 0.0000% / 4h | 2h 44m | $8.9M | $34.9M | 100x |
Bitget COPPERUSDT
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Bitget. 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
- −$22.26
- Price spread: +0.063% → −0.005%
- $6.84
- Slippage, 4 orders
- −$11.8
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$49.23
- Costs to cover
- 0.338%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 2 min ago; Binance: live order book, 12 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 Bitget live order book, 2 min ago | 0.74 bp | 11.0 bp −$11 | 25.2 bp −$252 | 83.6 bp −$8,360 | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.74 bp | 5.7 bp −$6 | 10.6 bp −$106 | 91.3 bp −$9,125 | doesn't fit |
COPPER on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0014% | 4h | 6.7945 | +0.141% | $93K | $318K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7934 | +0.124% | $32K | $52K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.7893 | +0.063% | $8.9M | $34.9M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7797 | −0.078% | $469K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7780 | −0.103% | $1.3M | $522K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7850 | 0.000% | $25.6M | $4.1M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7945 | +0.141% | $752K | $1.6M | — | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7940 | +0.133% | — | $7.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7970 | +0.177% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | +0.088% | $4.2M | $81K | 100x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Variational Omni COPPER
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter XCU | +0.0032% | 1h | 6.8045 | +0.287% | $476K | $46K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.7921 | +0.105% | $234K | $2.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7905 | +0.081% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.7904 | +0.080% | $10.4M | $5.9M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7921 | +0.105% | $899 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7777 | −0.108% | $64K | $26K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0052% | 8h | 6.7917 | +0.099% | $1K | $3K | 5x | as long as short |
| QFEX COPPER-USD | +0.0053% | 1h | 6.7920 | +0.103% | $1.5M | $138K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0059% | 4h | 6.7940 | +0.133% | $87K | $147K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7918 | +0.101% | $23K | $16K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7930 | +0.118% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8020 | +0.251% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7941 | +0.134% | $311 | — | 10x | as long as short |
| Bitget COPPERUSDTlong | +0.0106% | 4h | 6.7850 | long leg | $1.6M | $1.1M | 100x | |
| GRVT COPPER_USDT_Perp | +0.0158% | 4h | 6.7950 | +0.148% | $89K | $2.3M | 25x | as long as short |
| Phoenix COPPER | +0.0329% | 1h | 6.7940 | +0.133% | $45K | $30K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0951% | 1h | 6.7933 | +0.122% | $26K | $177K | 20x | as long as short |
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
QFEX COPPER-USD
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
GRVT COPPER_USDT_Perp
Phoenix COPPER
Kraken Futures PF_XCUUSD