Funding you earn now, next payment 04:00 UTC−0.0031%/8h= −3.4% APRnext payment −$0.16 per $10,000 · paid last 24h −0.004%
Price spread now: Binance against BloFin+0.029%61s7-day average −0.014% · 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—prices read too far apart to compare
costs, in and out, $10k−$290.290% of the position
Funding, last 7 days−0.018%−$2 on $10k
+Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.029%, 7d avg −0.014%
=The price spread pays, funding is against you. Binance is 0.044% dearer against BloFin than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.014%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 7 days (−0.018% in total) that is about 17 days. The two prices were read 61 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 | BloFin COPPER-USDT | 6.8320 | 0.0031 | pay 0.0016% / 4h | 44m 16s | $88K | $144K | 100x |
| Short | Binance COPPERUSDT | 6.8340 | 0 | get 0.0000% / 4h | 44m 16s | $9.0M | $32.5M | 100x |
BloFin COPPER-USDT
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- −$6.6
- Price spread: +0.029% → −0.014%
- $4.36
- Slippage, 4 orders
- −$7.01
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$31.25
- Costs to cover
- 0.290%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 52 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 BloFin live order book, 52 min ago | 0.73 bp | 6.7 bp −$7 | 10.2 bp −$102 | 27.7 bp −$2,766 | 105.2 bp −$52.6K |
| Sell Binance live order book, 12 min ago | 0.73 bp | 6.9 bp −$7 | 11.1 bp −$111 | 75.9 bp −$7,591 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8334 | +0.020% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8340 | +0.029% | $9.0M | $32.5M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8294 | −0.038% | $472K | $951K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8120 | −0.293% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8320 | 0.000% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8330 | +0.015% | $1.7M | $988K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8303 | −0.025% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8330 | +0.015% | $93K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | 0.000% | — | $6.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.015% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.249% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8307 | −0.020% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0006% | 4h | 6.8292 | −0.042% | $95K | $320K | 20x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8300 | −0.029% | $1.5M | $129K | 20x | as long as short |
| BloFin COPPER-USDTlong | +0.0031% | 4h | 6.8320 | long leg | $88K | $144K | 100x | |
| Lighter XCU | +0.0032% | 1h | 6.8445 | +0.183% | $478K | $40K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8297 | −0.034% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8302 | −0.026% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8293 | −0.040% | $10.5M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8312 | −0.012% | $905 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8336 | +0.023% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8319 | −0.002% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | −0.059% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8390 | +0.102% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8318 | −0.003% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0164% | 1h | 6.8322 | +0.003% | $45K | $23K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0290% | 1h | 6.8299 | −0.031% | $35K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0792% | 1h | 6.8315 | −0.007% | $220K | $2.7M | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD
Extended XCU-USD