Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.044%
Price spread now: Extended against Phemex−0.030%7-day average +0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$111as in the Funding arb table
Net, price: spread back to 7d avg − costs−$132as in the Price arb table
costs, in and out, $10k−$1211.214% of the position
Funding, last 7 days+0.101%+$10 on $10k
+Price spread, last 4 days (all we have)+0.225%+$23 · spread now −0.030%, 7d avg +0.079%
=Together, before fees+0.326%+ Points / potential airdropExtended: Active · farm board+$33 on $10k · with fees, hour by hour
Funding pays, the price is against you. Extended is 0.109% cheaper against Phemex than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of +0.079%). If the spread goes back, that is −$11 on $10k: about 11 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8220 | 0 | get 0.0000% / 4h | 2h 11m | $4.2M | $80K | 100x |
| Short | Extended XCU-USD | 6.8199 | 0.0032 | get 0.0004% / 1h | 11m 54s | $276K | $2.4M | 20x |
Phemex COPPERUSDT
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $6.72
- Price spread: −0.030% → +0.079%
- −$10.9
- Slippage, 4 orders
- −$104.39
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$125.57
- Costs to cover
- 1.214%
- Break-even
- 137.8 days
Slippage from Phemex: live order book, 2 min ago; Extended: 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, 2 min ago | 0.73 bp | 53.5 bp −$53 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 2 min ago | 0.88 bp | 4.2 bp −$4 | 57.4 bp −$574 | 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 | −0.0481% | 1h | 6.8216 | −0.006% | $34K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0009% | 1h | 6.8189 | −0.045% | $10.6M | $5.0M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8200 | −0.029% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8220 | +0.001% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8237 | +0.025% | $9.2M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8159 | −0.089% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8050 | −0.249% | $1.3M | $530K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | 0.000% | $26.1M | $4.8M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8220 | 0.000% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.200% | $739K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
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 | 6.8119 | −0.149% | $94K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.015% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.044% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8220 | long leg | $4.2M | $80K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8190 | −0.045% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8096 | −0.182% | $94K | $320K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8137 | −0.122% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8293 | +0.107% | $477K | $40K | 20x | as long as short |
| Extended XCU-USDshort | +0.0032% | 1h | 6.8199 | −0.030% | $276K | $2.4M | 20x | |
| BloFin COPPER-USDT | +0.0040% | 4h | 6.8200 | −0.029% | $88K | $139K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8185 | −0.051% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8181 | −0.057% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8187 | −0.048% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8052 | −0.246% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8187 | −0.049% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8220 | 0.000% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8260 | +0.059% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8210 | −0.014% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
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