Funding you earn now, next payment 04:00 UTC−0.0003%/8h= −0.3% APRnext payment −$0.01 per $10,000 · paid last 24h +0.060%
Price spread now: Phemex against edgeX−0.042%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$127as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1511.512% of the position
Funding, last 7 days+0.237%+$24 on $10k
+Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.042%, 7d avg −0.009%
=Together, before fees+0.198%+ Points / potential airdropedgeX: Active · farm board+$20 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.033% cheaper against edgeX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX COPPERUSDC | 6.7969 | 0.0003 | pay 0.0001% / 4h | 2h 20m | $94K | $318K | 20x |
| Short | Phemex COPPERUSDT | 6.7940 | 0 | get 0.0000% / 4h | 2h 20m | $4.2M | $74K | 100x |
edgeX COPPERUSDC
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against edgeX. 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
- −$0.54
- Price spread: −0.042% → −0.009%
- −$3.31
- Slippage, 4 orders
- −$130.2
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$155.04
- Costs to cover
- 1.512%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 48 min ago; Phemex: live order book, 3 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 edgeX live order book, 48 min ago | 7.34 bp | 13.1 bp −$13 | 26.7 bp −$267 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.74 bp | 62.3 bp −$62 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.1014% | 1h | 6.8017 | +0.071% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0133% | 1h | 6.7974 | +0.008% | $10.4M | $4.8M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8024 | +0.081% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8020 | +0.075% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8018 | +0.073% | $472K | $930K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.145% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8010 | +0.061% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8040 | +0.105% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8012 | +0.064% | $741K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8000 | +0.046% | $88K | $2.0M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8010 | +0.061% | — | $6.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8050 | +0.120% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7940 | −0.042% | $4.2M | $74K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8018 | +0.073% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDClong | +0.0003% | 4h | 6.7969 | long leg | $94K | $318K | 20x | |
| QFEX COPPER-USD | +0.0006% | 1h | 6.8020 | +0.075% | $1.5M | $129K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8118 | +0.220% | $477K | $39K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.7962 | −0.010% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8004 | +0.052% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8014 | +0.067% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8007 | +0.056% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7932 | −0.054% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8012 | +0.064% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8020 | +0.075% | $258K | $23K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8070 | +0.149% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8004 | +0.052% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0344% | 1h | 6.8012 | +0.064% | $231K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Lighter XCU
Phoenix COPPER
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
Extended XCU-USD