Funding you earn now, next payment 01:00 UTC−0.0340%/8h= −37.3% APRnext payment −$0.43 per $10,000 · paid last 24h −0.030%
Price spread now: QFEX against Extended+0.022%7-day average −0.066% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$280.275% of the position
Funding, last 3 days (all we have)−0.050%−$5 on $10k
+Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.022%, 7d avg −0.066%
=Together, before fees−0.171%+ Points / potential airdropExtended: Active · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.089% dearer against Extended than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.066%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 3 days (−0.050% in total) that is about 6.1 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.050% in total (about -5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XCU-USD | 6.8095 | 0.0344 | pay 0.0043% / 1h | 7m 10s | $229K | $2.9M | 20x |
| Short | QFEX COPPER-USD | 6.8110 | 0.0004 | get 0.0000% / 1h | 7m 10s | $1.5M | $131K | 20x |
Extended XCU-USD
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$71.48
- Price spread: +0.022% → −0.066%
- $8.85
- Slippage, 4 orders
- −$12.54
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$90.17
- Costs to cover
- 0.275%
- Break-even
- never at this rate
Slippage from Extended: live order book, 2 min ago; QFEX: live order book, 4 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 | 0.44 bp | 9.2 bp −$9 | 69.1 bp −$691 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 1.47 bp | 6.5 bp −$6 | 11.6 bp −$116 | 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 | −0.0447% | 1h | 6.8123 | +0.042% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0032% | 1h | 6.8073 | −0.032% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | +0.037% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8136 | +0.060% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8107 | +0.018% | $471K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7990 | −0.154% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | +0.037% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8160 | +0.096% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.016% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8132 | +0.055% | $97K | $2.1M | 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 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.052% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.052% | $60K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7970 | −0.183% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8098 | +0.004% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0004% | 1h | 6.8110 | +0.022% | $1.5M | $131K | 20x | |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8111 | +0.024% | $94K | $318K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8223 | +0.188% | $477K | $45K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0041% | 4h | 6.8080 | −0.022% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8092 | −0.004% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8121 | +0.039% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8095 | 0.000% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8080 | −0.022% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8105 | +0.014% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | +0.022% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8170 | +0.110% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8111 | +0.024% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8107 | +0.018% | $45K | $30K | 20x | as long as short |
| Extended XCU-USDlong | +0.0344% | 1h | 6.8095 | long leg | $229K | $2.9M | 20x |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
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
Phoenix COPPER