Funding you earn now, next payment 05:00 UTC−0.0088%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h −0.031%
Price spread now: tradeXYZ against Lighter−0.159%7-day average −0.165% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$460.457% of the position
Funding, last 7 days+0.133%+$13 on $10k
+Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.159%, 7d avg −0.165%
=Together, before fees+0.214%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board+$21 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.165%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.133%, 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 | 6.8398 | 0.0032 | pay 0.0004% / 1h | 15m 16s | $478K | $40K | 20x |
| Short | tradeXYZ xyz:COPPER | 6.8289 | −0.0056 | pay 0.0007% / 1h | 15m 16s | $10.6M | $4.9M | 20x |
Lighter XCU
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$18.48
- Price spread: −0.159% → −0.165%
- $0.54
- Slippage, 4 orders
- −$27.74
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$63.68
- Costs to cover
- 0.457%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 30 min ago; tradeXYZ: 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, 30 min ago | 2.34 bp | 8.4 bp −$8 | 30.8 bp −$308 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 3 min ago | 0.59 bp | 11.1 bp −$11 | 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 | −0.0403% | 1h | 6.8279 | −0.175% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPERshort | −0.0056% | 1h | 6.8289 | −0.159% | $10.6M | $4.9M | 20x | |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8290 | −0.158% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8308 | −0.132% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8310 | −0.129% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | −0.170% | $489K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8190 | −0.304% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8310 | −0.129% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | −0.129% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8303 | −0.139% | $740K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
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 | 6.8340 | −0.085% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8310 | −0.129% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8330 | −0.099% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8140 | −0.377% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8304 | −0.137% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0013% | 4h | 6.8311 | −0.127% | $95K | $319K | 20x | as long as short |
| Lighter XCUlong | +0.0032% | 1h | 6.8398 | long leg | $478K | $40K | 20x | |
| Extended XCU-USD | +0.0032% | 1h | 6.8300 | −0.143% | $266K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8308 | −0.132% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8325 | −0.107% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0050% | 4h | 6.8300 | −0.143% | $88K | $135K | 100x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8293 | −0.154% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8280 | −0.173% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | −0.156% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8304 | −0.137% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | −0.173% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8370 | −0.041% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8297 | −0.148% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
BloFin COPPER-USDT
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP