Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.044%
Price spread now: Phemex against Extended+0.030%7-day average −0.079% · you sell dearer than you buy
Net, funding: paid 7d − costs−$131as in the Funding arb table
Net, price: spread back to 7d avg − costs−$110as in the Price arb table
costs, in and out, $10k−$1211.214% of the position
Funding, last 7 days−0.101%−$10 on $10k
+Price spread, last 4 days (all we have)−0.225%−$23 · spread now +0.030%, 7d avg −0.079%
=Together, before fees−0.326%+ Points / potential airdropExtended: Active · farm board−$33 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Phemex is 0.109% dearer against Extended than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.079%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XCU-USD | 6.8199 | 0.0032 | pay 0.0004% / 1h | 12m 00s | $276K | $2.4M | 20x |
| Short | Phemex COPPERUSDT | 6.8220 | 0 | get 0.0000% / 4h | 2h 12m | $4.2M | $80K | 100x |
Extended XCU-USD
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Extended. 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: +0.030% → −0.079%
- $10.9
- Slippage, 4 orders
- −$104.39
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$117.2
- Costs to cover
- 1.214%
- Break-even
- never at this rate
Slippage from Extended: live order book, 2 min ago; Phemex: live order book, 2 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 Extended live order book, 2 min ago | 0.88 bp | 4.7 bp −$5 | 57.2 bp −$572 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 0.73 bp | 59.0 bp −$59 | 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 | 6.8216 | +0.024% | $34K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0010% | 1h | 6.8184 | −0.023% | $10.6M | $5.0M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8200 | +0.001% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8217 | +0.025% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8231 | +0.046% | $9.2M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8159 | −0.059% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8050 | −0.219% | $1.3M | $530K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | +0.030% | $26.1M | $4.8M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8220 | +0.030% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.170% | $739K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
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 | 6.8119 | −0.119% | $94K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.045% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.074% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8220 | +0.030% | $4.2M | $80K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8190 | −0.015% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8096 | −0.152% | $94K | $320K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8137 | −0.092% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8293 | +0.137% | $477K | $40K | 20x | as long as short |
| Extended XCU-USDlong | +0.0032% | 1h | 6.8199 | long leg | $276K | $2.4M | 20x | |
| BloFin COPPER-USDT | +0.0040% | 4h | 6.8200 | +0.001% | $88K | $139K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8185 | −0.021% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8181 | −0.027% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8187 | −0.018% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8052 | −0.216% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8187 | −0.019% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8220 | +0.030% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8260 | +0.089% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8210 | +0.016% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
BloFin COPPER-USDT
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