Funding you earn now, next payment 01:00 UTC+0.0340%/8h= +37.3% APRnext payment +$0.43 per $10,000 · paid last 24h +0.030%
Price spread now: Extended against QFEX−0.015%7-day average +0.066% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$280.275% of the position
Funding, last 3 days (all we have)+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.015%, 7d avg +0.066%
=Together, before fees+0.164%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Extended is 0.081% cheaper against QFEX than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.066%). If the spread goes back, that is −$8 on $10k: about 19 hours of funding at the current rate (+$10 a day). At the pace of the last 3 days (+0.050% in total) that is about 5.6 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.050% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX COPPER-USD | 6.8110 | 0.0004 | pay 0.0000% / 1h | 6m 23s | $1.5M | $131K | 20x |
| Short | Extended XCU-USD | 6.8100 | 0.0344 | get 0.0043% / 1h | 6m 23s | $229K | $2.9M | 20x |
QFEX COPPER-USD
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against QFEX. 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
- $71.48
- Price spread: −0.015% → +0.066%
- −$8.12
- Slippage, 4 orders
- −$12.54
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $35.83
- Costs to cover
- 0.275%
- Break-even
- 3.5 days
Slippage from QFEX: live order book, 5 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 QFEX live order book, 5 min ago | 1.47 bp | 7.9 bp −$8 | 12.6 bp −$126 | doesn't fit | doesn't fit |
| Sell Extended live order book, 2 min ago | 0.44 bp | 3.9 bp −$4 | 66.0 bp −$660 | 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 | −0.0447% | 1h | 6.8123 | +0.019% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0032% | 1h | 6.8071 | −0.057% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | +0.015% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8130 | +0.029% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8092 | −0.026% | $471K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7990 | −0.176% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8130 | +0.029% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8160 | +0.073% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8084 | −0.039% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8132 | +0.033% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.029% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.029% | $60K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7970 | −0.206% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8104 | −0.009% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDlong | +0.0004% | 1h | 6.8110 | long leg | $1.5M | $131K | 20x | |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8111 | +0.002% | $94K | $318K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8222 | +0.164% | $477K | $45K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0041% | 4h | 6.8080 | −0.044% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8098 | −0.018% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8121 | +0.017% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8095 | −0.022% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8080 | −0.044% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8104 | −0.009% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8120 | +0.015% | $259K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8180 | +0.103% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8117 | +0.011% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8107 | −0.004% | $45K | $30K | 20x | as long as short |
| Extended XCU-USDshort | +0.0344% | 1h | 6.8100 | −0.015% | $229K | $2.9M | 20x |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
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
Phoenix COPPER