COPPER

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0023%/8h= +2.5% APRnext payment +$0.03 per $10,000 · paid last 24h +0.024%

Price spread now: Lighter against QFEX+0.139%52s7-day average +0.189% · 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—prices read too far apart to compare

costs, in and out, $10k−$440.443% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now +0.139%, 7d avg +0.189%

Together, before fees−0.309%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.049% cheaper against QFEX than usual: you would sell low and buy high (spread +0.139% now, against its 7-day average of +0.189%). If the spread goes back, that is −$5 on $10k: about 7.2 days of funding at the current rate (+$1 a day). Mind the row above: over the last 4 days funding on this pair cost −0.313%, so the current rate has only just turned in your favour. The two prices were read 52 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	QFEX COPPER-USD	6.8200	0.0009	pay 0.0001% / 1h	22m 51s	$1.5M	$129K	20x
Short	Lighter XCU	6.8295	0.0032	get 0.0004% / 1h	22m 51s	$477K	$40K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee QFEXbpFee LighterbpOrdersPrice spread, now +0.139%Rate

Funding earned: $4.79
Price spread: +0.139% → +0.189%: −$4.92
Slippage, 4 orders: −$34.34
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$44.47
Costs to cover: 0.443%
Break-even: 72.0 days

Slippage from QFEX: live order book, 4 min ago; Lighter: live order book, 27 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, 4 min ago	2.20 bp	10.1 bp −$10	13.9 bp −$139	doesn't fit	doesn't fit
Sell Lighter live order book, 27 min ago	2.48 bp	14.3 bp −$14	18.6 bp −$186	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
BloFin COPPER-USDT	−0.0003%	4h	6.8200	0.000%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8230	+0.043%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8194	−0.008%	$9.0M	$32.8M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8191	−0.013%	$480K	$962K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8080	−0.176%	$1.3M	$495K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8200	0.000%	$26.0M	$4.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8180	−0.029%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8142	−0.084%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8186	−0.020%	$96K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8190	−0.015%	—	$6.6M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8190	−0.015%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.073%	$4.2M	$76K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8214	+0.020%	$178K	—	250x	as long as short
QFEX COPPER-USDlong	+0.0009%	1h	6.8200	long leg	$1.5M	$129K	20x
edgeX COPPERUSDC	+0.0011%	4h	6.8151	−0.071%	$94K	$317K	20x	as long as short
Lighter XCUshort	+0.0032%	1h	6.8295	+0.139%	$477K	$40K	20x
tradeXYZ xyz:COPPER	+0.0038%	1h	6.8169	−0.045%	$10.5M	$4.8M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8211	+0.016%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8193	−0.010%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8177	−0.034%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8102	−0.144%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8221	+0.031%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8190	−0.015%	$290K	$23K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8240	+0.059%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8171	−0.043%	$312	—	10x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8187	−0.019%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0291%	1h	6.8168	−0.046%	$34K	$176K	20x	as long as short
Extended XCU-USD	+0.0352%	1h	6.8212	+0.017%	$263K	$2.7M	20x	as long as short