Funding you earn now, next payment 06:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.001%
Price spread now: Phemex against QFEX−0.103%7-day average −0.019% · 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−$148as in the Price arb table
costs, in and out, $10k−$1391.393% 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: Phemex is 0.084% cheaper against QFEX than usual: you would sell low and buy high, −$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 | QFEX COPPER-USD | 6.8210 | −0.0001 | get 0.0000% / 1h | 34m 03s | $1.5M | $130K | 20x |
| Short | Phemex COPPERUSDT | 6.8140 | 0 | get 0.0000% / 4h | 2h 34m | $4.2M | $80K | 100x |
QFEX COPPER-USD
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0.12
- Price spread: −0.103% → −0.019%
- −$8.37
- Slippage, 4 orders
- −$117.31
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$147.57
- Costs to cover
- 1.393%
- Break-even
- 8790.7 days
Slippage from QFEX: live order book, 2 min ago; Phemex: 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 QFEX live order book, 2 min ago | 2.93 bp | 7.9 bp −$8 | 12.2 bp −$122 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 0.73 bp | 54.5 bp −$55 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0481% | 1h | 6.8180 | −0.043% | $34K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0013% | 1h | 6.8194 | −0.023% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USDlong | −0.0001% | 1h | 6.8210 | long leg | $1.5M | $130K | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8227 | +0.024% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8206 | −0.005% | $9.2M | $33.2M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8189 | −0.031% | $491K | $969K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8090 | −0.176% | $1.3M | $525K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | −0.015% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8200 | −0.015% | $2.9M | $1.9M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8254 | +0.065% | $740K | $1.4M | — | 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 COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8290 | +0.117% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8190 | −0.029% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8280 | +0.103% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8140 | −0.103% | $4.2M | $80K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8219 | +0.013% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8275 | +0.096% | $95K | $318K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8292 | +0.120% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0026% | 4h | 6.8230 | +0.029% | $88K | $138K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8304 | +0.138% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8221 | +0.016% | $276K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8223 | +0.019% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8191 | −0.029% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8185 | −0.037% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8235 | +0.037% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8204 | −0.008% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8210 | 0.000% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8250 | +0.059% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8209 | −0.002% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
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