Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.040%
Price spread now: Binance against Phemex+0.205%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$157as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1311.313% of the position
Funding, last 7 days−0.260%−$26 on $10k
+Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.205%, 7d avg +0.020%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.185% dearer against Phemex than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8160 | 0 | get 0.0000% / 4h | 2h 54m | $4.2M | $78K | 100x |
| Short | Binance COPPERUSDT | 6.8300 | 0 | get 0.0000% / 4h | 2h 54m | $9.1M | $33.0M | 100x |
Phemex COPPERUSDT
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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: +0.205% → +0.020%
- $18.53
- Slippage, 4 orders
- −$109.27
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$112.73
- Costs to cover
- 1.313%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 2 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 Phemex live order book, 4 min ago | 1.47 bp | 64.6 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 0.73 bp | 6.7 bp −$7 | 10.6 bp −$106 | 76.0 bp −$7,596 | 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 | −0.0480% | 1h | 6.8299 | +0.205% | $35K | $176K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0035% | 4h | 6.8280 | +0.176% | $88K | $138K | 100x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8290 | +0.191% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8307 | +0.215% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8300 | +0.205% | $9.1M | $33.0M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8272 | +0.164% | $490K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8090 | −0.103% | $1.3M | $519K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8290 | +0.191% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8280 | +0.176% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8293 | +0.195% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
QFEX COPPER-USD
Aster XCUUSDT
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 | 6.8299 | +0.204% | $94K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8300 | +0.205% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8310 | +0.220% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8160 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8300 | +0.205% | $178K | — | 250x | as long as short |
| tradeXYZ xyz:COPPER | +0.0002% | 1h | 6.8283 | +0.180% | $10.6M | $4.9M | 20x | as long as short |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8286 | +0.185% | $95K | $317K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8407 | +0.362% | $478K | $39K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8306 | +0.214% | $271K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8298 | +0.202% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8307 | +0.216% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8281 | +0.177% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8277 | +0.172% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8241 | +0.119% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8301 | +0.206% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.176% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8350 | +0.279% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8290 | +0.190% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
tradeXYZ xyz:COPPER
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP