Funding you earn now, next payment 05:00 UTC−0.0053%/8h= −5.8% APRnext payment −$0.07 per $10,000 · paid last 24h −0.008%
Price spread now: tradeXYZ against QFEX−0.028%7-day average +0.017% · 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−$41as in the Price arb table
costs, in and out, $10k−$370.367% of the position
Funding, last 4 days (all we have)−0.003%$0 on $10k
+Price spread, last 7 days+0.005%+$1 · spread now −0.028%, 7d avg +0.017%
=Together, before fees+0.002%+ Points / potential airdroptradeXYZ: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and tradeXYZ is 0.045% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.017%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX COPPER-USD | 6.8310 | −0.0003 | get 0.0000% / 1h | 16m 24s | $1.5M | $129K | 20x |
| Short | tradeXYZ xyz:COPPER | 6.8291 | −0.0057 | pay 0.0007% / 1h | 16m 24s | $10.6M | $4.9M | 20x |
QFEX COPPER-USD
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$11.2
- Price spread: −0.028% → +0.017%
- −$4.47
- Slippage, 4 orders
- −$8.71
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$52.38
- Costs to cover
- 0.367%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 5 min ago; tradeXYZ: live order book, 12 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 | 2.19 bp | 7.2 bp −$7 | 10.9 bp −$109 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 12 min ago | 0.44 bp | 10.9 bp −$11 | 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 | −0.0403% | 1h | 6.8279 | −0.045% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPERshort | −0.0057% | 1h | 6.8291 | −0.028% | $10.6M | $4.9M | 20x | |
| QFEX COPPER-USDlong | −0.0003% | 1h | 6.8310 | long leg | $1.5M | $129K | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8329 | +0.028% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8320 | +0.015% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | −0.041% | $489K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | −0.161% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8320 | +0.015% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | 0.000% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8343 | +0.048% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
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 | 6.8352 | +0.061% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.015% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8380 | +0.102% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.234% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8315 | +0.007% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8339 | +0.042% | $95K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8430 | +0.176% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8317 | +0.010% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8317 | +0.010% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8325 | +0.022% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8313 | +0.004% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8299 | −0.016% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | −0.028% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8340 | +0.044% | $88K | $135K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8323 | +0.020% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | −0.044% | $291K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8370 | +0.088% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8305 | −0.007% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP