Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.063%
Price spread now: Binance against Lighter−0.092%7-day average −0.174% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$400.401% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.092%, 7d avg −0.174%
=Together, before fees+0.065%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Binance is 0.083% dearer against Lighter than usual: you sell high and buy low (spread −0.092% now, against its 7-day average of −0.174%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.6 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XCU | 6.8187 | 0.0032 | pay 0.0004% / 1h | 15m 33s | $477K | $40K | 20x |
| Short | Binance COPPERUSDT | 6.8125 | 0 | get 0.0000% / 4h | 2h 15m | $9.3M | $33.4M | 100x |
Lighter XCU
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Lighter. 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: −0.092% → −0.174%
- $8.26
- Slippage, 4 orders
- −$30.15
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$38.61
- Costs to cover
- 0.401%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 24 min ago; Binance: live order book, 11 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 Lighter live order book, 24 min ago | 3.59 bp | 21.5 bp −$21 | 36.3 bp −$363 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.73 bp | 5.7 bp −$6 | 9.2 bp −$92 | 84.7 bp −$8,468 | 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 | −0.0482% | 1h | 6.8073 | −0.167% | $34K | $176K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0038% | 4h | 6.8090 | −0.142% | $88K | $138K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0016% | 1h | 6.8077 | −0.161% | $10.5M | $5.0M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8110 | −0.113% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8135 | −0.077% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8125 | −0.092% | $9.3M | $33.4M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8091 | −0.141% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7950 | −0.348% | $1.3M | $529K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8100 | −0.128% | $26.1M | $4.8M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8110 | −0.113% | $2.9M | $2.0M | 100x | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.151% | $739K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8144 | −0.063% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8090 | −0.142% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | −0.098% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8080 | −0.157% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8076 | −0.162% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8094 | −0.136% | $94K | $320K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8093 | −0.138% | $45K | $23K | 20x | as long as short |
| Lighter XCUlong | +0.0032% | 1h | 6.8187 | long leg | $477K | $40K | 20x | |
| Extended XCU-USD | +0.0032% | 1h | 6.8109 | −0.114% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8086 | −0.148% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8097 | −0.133% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8063 | −0.182% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8052 | −0.198% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8105 | −0.120% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8140 | −0.069% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | −0.069% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8089 | −0.144% | $311 | — | 10x | as long as short |
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Extended XCU-USD
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