Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: OKX against Phemex+0.231%53s7-day average +0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$151as 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−$1471.467% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.231%, 7d avg +0.002%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.229% dearer against Phemex than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of +0.002%. The two prices were read 53 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 | Phemex COPPERUSDT | 6.8320 | 0 | get 0.0000% / 4h | 1h 55m | $4.2M | $82K | 100x |
| Short | OKX XCU-USDT-SWAP | 6.8478 | 0 | get 0.0000% / 8h | 5h 55m | $509K | $816K | 50x |
Phemex COPPERUSDT
OKX XCU-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: +0.231% → +0.002%
- $22.9
- Slippage, 4 orders
- −$124.71
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$123.81
- Costs to cover
- 1.467%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; OKX: live order book, 53 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, 1 min ago | 1.46 bp | 69.9 bp −$70 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 53 min ago | 0.51 bp | 11.7 bp −$12 | 33.6 bp −$336 | doesn't fit | doesn't fit |
COPPER on 28 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8534 | +0.314% | $35K | $31K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8540 | +0.322% | $9.0M | $32.0M | 100x | as long as short |
| OKX XCU-USDT-SWAPshort | 0.0000% | 8h | 6.8478 | +0.231% | $509K | $816K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.8330 | +0.015% | $1.3M | $181K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8530 | +0.307% | $26.3M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8540 | +0.322% | $3.1M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8508 | +0.274% | $775K | $538K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8517 | +0.289% | $92K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8530 | +0.307% | — | $4.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8530 | +0.307% | $61K | $71K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8320 | long leg | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8473 | +0.224% | $179K | — | 250x | as long as short |
| BloFin XCU-USDT | +0.0007% | 8h | 6.8426 | +0.155% | $48K | $302K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8498 | +0.261% | $95K | $319K | 20x | as long as short |
| QFEX COPPER-USD | +0.0011% | 1h | 6.8510 | +0.278% | $1.5M | $150K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8616 | +0.433% | $480K | $25K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8512 | +0.280% | $274K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8499 | +0.262% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8503 | +0.268% | $10.8M | $3.9M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8500 | +0.263% | $907 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8514 | +0.284% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8453 | +0.195% | $59K | $52K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8516 | +0.286% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8520 | +0.293% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8590 | +0.395% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8516 | +0.287% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0117% | 1h | 6.8491 | +0.250% | $44K | $18K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0337% | 1h | 6.8475 | +0.227% | $34K | $180K | 20x | as long as short |
gTrade (Gains Network) HG/USD
BloFin XCU-USDT
edgeX COPPERUSDC
QFEX COPPER-USD
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD