Funding you earn now, next payment 07:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.001%
Price spread now: QFEX against Phemex+0.103%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$125as in the Price arb table
costs, in and out, $10k−$1331.335% of the position
Funding, last 4 days (all we have)−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.103%, 7d avg +0.019%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.084% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.019%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 1h 56m | $4.2M | $81K | 100x |
| Short | QFEX COPPER-USD | 6.8220 | 0.0003 | get 0.0000% / 1h | 56m 23s | $1.5M | $130K | 20x |
Phemex COPPERUSDT
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- $0.54
- Price spread: +0.103% → +0.019%
- $8.38
- Slippage, 4 orders
- −$111.45
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$124.53
- Costs to cover
- 1.335%
- Break-even
- 1628.5 days
Slippage from Phemex: live order book, 2 min ago; QFEX: live order book, 5 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 | 2.20 bp | 56.5 bp −$57 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 1.47 bp | 9.4 bp −$9 | 13.5 bp −$135 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8209 | +0.087% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8229 | +0.116% | $9.2M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8174 | +0.035% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.103% | $1.3M | $519K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | +0.103% | $26.7M | $4.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8220 | +0.103% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8222 | +0.106% | $739K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8240 | +0.132% | $93K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.117% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.147% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $81K | 100x | |
| edgeX COPPERUSDC | +0.0001% | 4h | 6.8219 | +0.101% | $95K | $320K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8182 | +0.047% | $178K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0003% | 1h | 6.8220 | +0.103% | $1.5M | $130K | 20x | |
| tradeXYZ xyz:COPPER | +0.0023% | 1h | 6.8176 | +0.038% | $10.6M | $5.0M | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8193 | +0.063% | $45K | $22K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0030% | 4h | 6.8220 | +0.103% | $88K | $140K | 100x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8186 | +0.053% | $273K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8188 | +0.056% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8203 | +0.078% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8169 | +0.028% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8184 | +0.050% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0056% | 1h | 6.8300 | +0.220% | $477K | $41K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8192 | +0.062% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8200 | +0.073% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.205% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8211 | +0.090% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0107% | 1h | 6.8230 | +0.117% | $35K | $176K | 20x | as long as short |
edgeX COPPERUSDC
gTrade (Gains Network) HG/USD
tradeXYZ xyz:COPPER
Phoenix COPPER
BloFin COPPER-USDT
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD