Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.005%
Price spread now: GRVT against tradeXYZ+0.078%46s7-day average −0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.367% of the position
Funding, last 7 days−0.040%−$4 on $10k
+Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.078%, 7d avg −0.004%
=Together, before fees−0.147%+ Points / potential airdroptradeXYZ: Active · GRVT: Active · farm board−$15 on $10k · with fees, hour by hour
The price spread pays, funding is against you. GRVT is 0.082% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.078% now, against its 7-day average of −0.004%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.5 days. At the pace of the last 7 days (−0.040% in total) that is about 14 days. The two prices were read 46 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 | tradeXYZ xyz:COPPER | 6.7947 | 0.0050 | pay 0.0006% / 1h | 40m 36s | $10.4M | $5.4M | 20x |
| Short | GRVT COPPER_USDT_Perp | 6.8000 | 0 | get 0.0000% / 4h | 40m 36s | $91K | $2.2M | 25x |
tradeXYZ xyz:COPPER
GRVT COPPER_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT against tradeXYZ. 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: +0.078% → −0.004%
- $8.24
- Slippage, 4 orders
- −$9.71
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- −$38.97
- Costs to cover
- 0.367%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 8 min ago; GRVT: live order book, 3 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 tradeXYZ live order book, 8 min ago | 0.07 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell GRVT live order book, 3 min ago | 0.74 bp | 9.6 bp −$10 | 16.3 bp −$163 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0020% | 4h | 6.7988 | +0.061% | $93K | $319K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7988 | +0.060% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7985 | +0.055% | $9.0M | $34.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7942 | −0.007% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7850 | −0.143% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7970 | +0.034% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8000 | +0.078% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7997 | +0.073% | $739K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perpshort | 0.0000% | 4h | 6.8000 | +0.078% | $91K | $2.2M | 25x | |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7970 | +0.034% | — | $7.6M | 20x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
SunX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8000 | +0.078% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.054% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7945 | −0.004% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0013% | 1h | 6.7980 | +0.049% | $1.5M | $131K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0029% | 4h | 6.7980 | +0.049% | $87K | $149K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8074 | +0.187% | $476K | $45K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.7964 | +0.025% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7940 | −0.010% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7977 | +0.044% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0050% | 1h | 6.7947 | long leg | $10.4M | $5.4M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7951 | +0.006% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7930 | −0.025% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7980 | +0.049% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7970 | +0.034% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8040 | +0.137% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7967 | +0.030% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0312% | 1h | 6.7959 | +0.017% | $230K | $2.9M | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7910 | −0.055% | $28K | $173K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
BloFin COPPER-USDT
Lighter XCU
Phoenix COPPER
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
Extended XCU-USD
Kraken Futures PF_XCUUSD