Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.011%
Price spread now: tradeXYZ against Phemex+0.163%7-day average +0.037% · you sell dearer than you buy
Net, funding: paid 7d − costs−$147as in the Funding arb table
Net, price: spread back to 7d avg − costs−$127as in the Price arb table
costs, in and out, $10k−$1401.396% of the position
Funding, last 7 days−0.073%−$7 on $10k
+Price spread, last 4 days (all we have)+0.090%+$9 · spread now +0.163%, 7d avg +0.037%
=Together, before fees+0.017%+ Points / potential airdroptradeXYZ: Active · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.126% dearer against Phemex than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.037%. Mind the row above: over the last 7 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8140 | 0 | get 0.0000% / 4h | 1h 02m | $4.2M | $76K | 100x |
| Short | tradeXYZ xyz:COPPER | 6.8251 | 0.0050 | get 0.0006% / 1h | 2m 09s | $10.5M | $4.8M | 20x |
Phemex COPPERUSDT
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $10.5
- Price spread: +0.163% → +0.037%
- $12.63
- Slippage, 4 orders
- −$109.58
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$116.45
- Costs to cover
- 1.396%
- Break-even
- 84.6 days
Slippage from Phemex: live order book, 2 min ago; tradeXYZ: live order book, 7 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 | 1.47 bp | 64.9 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 7 min ago | 0.59 bp | 10.2 bp −$10 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX COPPER-USD | 0.0000% | 1h | 6.8270 | +0.191% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8263 | +0.180% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8290 | +0.220% | $9.0M | $32.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8238 | +0.144% | $471K | $947K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8090 | −0.073% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8280 | +0.205% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8320 | +0.264% | $1.7M | $986K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8282 | +0.208% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8329 | +0.277% | $95K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8290 | +0.220% | — | $6.7M | 20x | as long as short |
QFEX COPPER-USD
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-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8300 | +0.235% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8140 | long leg | $4.2M | $76K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8243 | +0.150% | $178K | — | 250x | as long as short |
| Phoenix COPPER | +0.0012% | 1h | 6.8297 | +0.230% | $45K | $23K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0018% | 4h | 6.8295 | +0.228% | $95K | $319K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0032% | 4h | 6.8270 | +0.191% | $88K | $143K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8242 | +0.150% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8254 | +0.168% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPERshort | +0.0050% | 1h | 6.8251 | +0.163% | $10.5M | $4.8M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8258 | +0.173% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8296 | +0.229% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0088% | 1h | 6.8376 | +0.346% | $478K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8281 | +0.207% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8270 | +0.191% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8340 | +0.294% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8270 | +0.191% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0195% | 1h | 6.8281 | +0.207% | $35K | $178K | 20x | as long as short |
| Extended XCU-USD | +0.0840% | 1h | 6.8249 | +0.160% | $224K | $2.8M | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
edgeX COPPERUSDC
BloFin COPPER-USDT
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
Extended XCU-USD