Funding you earn now, next payment 01:00 UTC+0.0320%/8h= +35.0% APRnext payment +$0.40 per $10,000 · paid last 24h +0.004%
Price spread now: Extended against Lighter−0.192%7-day average −0.124% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$370.373% of the position
Funding, last 7 days+0.294%+$29 on $10k
+Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.192%, 7d avg −0.124%
=Together, before fees+0.445%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$44 on $10k · with fees, hour by hour
Funding pays, the price is against you. Extended is 0.067% cheaper against Lighter than usual: you would sell low and buy high (spread −0.192% now, against its 7-day average of −0.124%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.294% in total) that is about 38 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XCU | 6.8232 | 0.0032 | pay 0.0004% / 1h | 6m 03s | $477K | $45K | 20x |
| Short | Extended XCU-USD | 6.8101 | 0.0352 | get 0.0044% / 1h | 6m 03s | $229K | $2.9M | 20x |
Lighter XCU
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $67.2
- Price spread: −0.192% → −0.124%
- −$6.75
- Slippage, 4 orders
- −$32.3
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $23.15
- Costs to cover
- 0.373%
- Break-even
- 4.6 days
Slippage from Lighter: live order book, 59 min ago; Extended: 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 Lighter live order book, 59 min ago | 2.86 bp | 10.9 bp −$11 | 30.8 bp −$308 | doesn't fit | doesn't fit |
| Sell Extended live order book, 3 min ago | 0.44 bp | 3.9 bp −$4 | 66.0 bp −$660 | 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 | 6.8126 | −0.156% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0033% | 1h | 6.8074 | −0.232% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | −0.164% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8130 | −0.149% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8092 | −0.205% | $471K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7990 | −0.355% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | −0.164% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.120% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8122 | −0.161% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8132 | −0.146% | $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 | −0.149% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8160 | −0.106% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7950 | −0.413% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8104 | −0.188% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8110 | −0.179% | $1.5M | $131K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8111 | −0.177% | $94K | $318K | 20x | as long as short |
| Lighter XCUlong | +0.0032% | 1h | 6.8232 | long leg | $477K | $45K | 20x | |
| BloFin COPPER-USDT | +0.0041% | 4h | 6.8080 | −0.223% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8098 | −0.196% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8121 | −0.162% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8101 | −0.192% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8080 | −0.223% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8104 | −0.188% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8120 | −0.164% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8180 | −0.076% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8117 | −0.168% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8107 | −0.183% | $45K | $30K | 20x | as long as short |
| Extended XCU-USDshort | +0.0352% | 1h | 6.8101 | −0.192% | $229K | $2.9M | 20x |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
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