Funding you earn now, next payment 02:00 UTC−0.0026%/8h= −2.8% APRnext payment −$0.03 per $10,000 · paid last 24h −0.025%
Price spread now: QFEX against Lighter−0.138%7-day average −0.190% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$400.402% of the position
Funding, last 3 days (all we have)+0.315%+$31 on $10k
+Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.138%, 7d avg −0.190%
=Together, before fees+0.325%+ Points / potential airdropLighter: Season 3 · farm board+$33 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.052% dearer against Lighter than usual: you sell high and buy low (spread −0.138% now, against its 7-day average of −0.190%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.8 days. Mind the row above: over the last 3 days funding on this pair paid +0.315%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XCU | 6.8264 | 0.0032 | pay 0.0004% / 1h | 1m 37s | $478K | $39K | 20x |
| Short | QFEX COPPER-USD | 6.8170 | 0.0006 | get 0.0001% / 1h | 1m 37s | $1.5M | $129K | 20x |
Lighter XCU
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$5.39
- Price spread: −0.138% → −0.190%
- $5.22
- Slippage, 4 orders
- −$30.23
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$40.4
- Costs to cover
- 0.402%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 58 min ago; QFEX: live order book, 5 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, 58 min ago | 2.57 bp | 6.4 bp −$6 | 29.2 bp −$292 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 1.47 bp | 7.9 bp −$8 | 11.7 bp −$117 | 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 | −0.1011% | 1h | 6.8216 | −0.071% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0108% | 1h | 6.8169 | −0.139% | $10.5M | $4.8M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8197 | −0.099% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8175 | −0.131% | $9.1M | $32.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8178 | −0.126% | $475K | $937K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8040 | −0.328% | $1.3M | $481K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8190 | −0.108% | $26.0M | $5.1M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8190 | −0.108% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8043 | −0.324% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8200 | −0.094% | $96K | $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 | 6.8210 | −0.079% | — | $6.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8260 | −0.006% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8040 | −0.328% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8228 | −0.053% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0006% | 1h | 6.8170 | −0.138% | $1.5M | $129K | 20x | |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.8170 | −0.137% | $94K | $319K | 20x | as long as short |
| Lighter XCUlong | +0.0032% | 1h | 6.8264 | long leg | $478K | $39K | 20x | |
| Phoenix COPPER | +0.0035% | 1h | 6.8062 | −0.296% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8212 | −0.076% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8168 | −0.141% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8203 | −0.089% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8002 | −0.384% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8178 | −0.126% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8170 | −0.138% | $258K | $23K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.038% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8227 | −0.054% | $312 | — | 10x | as long as short |
| Extended XCU-USD | +0.0328% | 1h | 6.8159 | −0.154% | $225K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
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