Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.50 per $10,000 · paid last 24h +0.062%
Price spread now: KuCoin against Phemex+0.206%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$255as in the Funding arb table
Net, price: spread back to 7d avg − costs−$266as in the Price arb table
costs, in and out, $10k−$2812.813% of the position
Funding, last 7 days+0.267%+$27 on $10k
+Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.206%, 7d avg +0.049%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.157% dearer against Phemex than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.7910 | 0 | get 0.0000% / 4h | 3h 26m | $4.2M | $77K | 100x |
| Short | KuCoin COPPERUSDTM | 6.8050 | 0.0100 | get 0.0050% / 4h | 3h 26m | $258K | $25K | 50x |
Phemex COPPERUSDT
KuCoin COPPERUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: +0.206% → +0.049%
- $15.68
- Slippage, 4 orders
- −$257.29
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$244.61
- Costs to cover
- 2.813%
- Break-even
- 88.5 days
Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 24 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 | 0.74 bp | 71.4 bp −$71 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 24 min ago | 5.88 bp | 77.6 bp −$78 | 646.4 bp −$6,464 | 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 | 6.7941 | +0.046% | $28K | $174K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0013% | 4h | 6.8051 | +0.207% | $94K | $317K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0003% | 4h | 6.8070 | +0.236% | $87K | $149K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8065 | +0.228% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8060 | +0.221% | $9.1M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8051 | +0.208% | $470K | $980K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7930 | +0.029% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8040 | +0.191% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8070 | +0.236% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8044 | +0.198% | $741K | $1.5M | — | as long as short |
Kraken Futures PF_XCUUSD
edgeX COPPERUSDC
BloFin COPPER-USDT
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 | 6.8068 | +0.233% | $87K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8060 | +0.221% | — | $7.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | +0.309% | $60K | $26K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.7910 | long leg | $4.2M | $77K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8047 | +0.202% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8040 | +0.191% | $1.5M | $137K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0010% | 1h | 6.8001 | +0.134% | $10.4M | $5.0M | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8150 | +0.353% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8038 | +0.188% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8054 | +0.213% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8039 | +0.190% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8065 | +0.228% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8049 | +0.205% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMshort | +0.0100% | 4h | 6.8050 | +0.206% | $258K | $25K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8130 | +0.324% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8050 | +0.206% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8029 | +0.175% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0368% | 1h | 6.8045 | +0.198% | $230K | $3.0M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
tradeXYZ xyz:COPPER
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD