Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.055%
Price spread now: Phemex against MEXC−0.206%50s7-day average −0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$109as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1331.327% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 3 days (all we have)+0.086%+$9 · spread now −0.206%, 7d avg −0.014%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.191% cheaper against MEXC than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.014%. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | MEXC COPPER_USDT | 6.8080 | 0 | get 0.0000% / 4h | 3h 53m | $26.9M | $4.9M | 100x |
| Short | Phemex COPPERUSDT | 6.7940 | 0 | get 0.0000% / 4h | 3h 53m | $4.2M | $78K | 100x |
MEXC COPPER_USDT
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- $0
- Price spread: −0.206% → −0.014%
- −$19.12
- Slippage, 4 orders
- −$120.68
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$151.79
- Costs to cover
- 1.327%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 min ago; Phemex: live order book, 6 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 MEXC live order book, 5 min ago | 0.74 bp | 0.7 bp −$1 | 3.2 bp −$32 | 10.5 bp −$1,050 | 283.9 bp −$141.9K |
| Sell Phemex live order book, 6 min ago | 0.74 bp | 61.8 bp −$62 | 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 | −0.0448% | 1h | 6.7955 | −0.184% | $28K | $174K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0011% | 4h | 6.8070 | −0.015% | $87K | $150K | 100x | as long as short |
| edgeX COPPERUSDC | −0.0005% | 4h | 6.8046 | −0.050% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8085 | +0.008% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8089 | +0.013% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8083 | +0.004% | $470K | $991K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.176% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDTlong | 0.0000% | 4h | 6.8080 | long leg | $26.9M | $4.9M | 100x | |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8090 | +0.015% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8076 | −0.006% | $741K | $1.6M | — | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_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 | 6.8079 | −0.001% | $94K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8080 | 0.000% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8100 | +0.029% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7940 | −0.206% | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8058 | −0.032% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8070 | −0.015% | $1.5M | $139K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8053 | −0.040% | — | $82K | 25x | as long as short |
| Lighter XCU | +0.0048% | 1h | 6.8182 | +0.150% | $477K | $45K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8084 | +0.006% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8049 | −0.046% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8050 | −0.044% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8101 | +0.031% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8083 | +0.004% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8020 | −0.088% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8130 | +0.073% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8071 | −0.013% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | +0.010% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0360% | 1h | 6.8054 | −0.038% | $230K | $2.9M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Vest HG-PERP
Lighter XCU
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD