Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.013%
Price spread now: Phemex against SoDEX−0.173%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.173% cheaper against SoDEX than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX COPPER-USD | 6.8278 | 0.0050 | pay 0.0006% / 1h | 4m 51s | $904 | $3K | 20x |
| Short | Phemex COPPERUSDT | 6.8160 | 0 | get 0.0000% / 4h | 1h 04m | $4.2M | $76K | 100x |
SoDEX COPPER-USD
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against SoDEX. 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: −0.173% → 0.000%
- −$17.28
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$47.78
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 4 min ago. Net counts fees only.
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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 1.47 bp | 54.1 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0058% | 4h | 6.8330 | +0.076% | $88K | $143K | 100x | as long as short |
| QFEX COPPER-USD | 0.0000% | 1h | 6.8300 | +0.032% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8286 | +0.011% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8306 | +0.042% | $9.0M | $32.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8255 | −0.034% | $471K | $949K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8120 | −0.231% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8310 | +0.047% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8320 | +0.062% | $1.7M | $986K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8282 | +0.005% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8299 | +0.031% | $94K | $2.1M | 25x | as long as short |
BloFin COPPER-USDT
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_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.062% | — | $6.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.062% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8160 | −0.173% | $4.2M | $76K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8274 | −0.006% | $178K | — | 250x | as long as short |
| Phoenix COPPER | +0.0012% | 1h | 6.8289 | +0.016% | $45K | $23K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8279 | +0.002% | $95K | $318K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8268 | −0.015% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8282 | +0.006% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8266 | −0.018% | $10.5M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USDlong | +0.0050% | 1h | 6.8278 | long leg | $904 | $3K | 20x | |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8300 | +0.032% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0088% | 1h | 6.8389 | +0.163% | $478K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8296 | +0.027% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.003% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8360 | +0.120% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8303 | +0.037% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0195% | 1h | 6.8292 | +0.020% | $35K | $178K | 20x | as long as short |
| Extended XCU-USD | +0.0832% | 1h | 6.8266 | −0.018% | $224K | $2.8M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
edgeX COPPERUSDC
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
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