Funding you earn now, next payment 12:00 UTC−0.0054%/8h= −5.9% APRnext payment −$0.07 per $10,000 · paid last 24h +0.001%
Price spread now: QFEX against tradeXYZ+0.022%7-day average −0.015% · 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−$33as in the Price arb table
costs, in and out, $10k−$370.371% of the position
Funding, last 4 days (all we have)+0.002%$0 on $10k
+Price spread, last 7 days−0.038%−$4 · spread now +0.022%, 7d avg −0.015%
=Together, before fees−0.036%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.037% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.022% now, against its 7-day average of −0.015%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.3 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COPPER | 6.8475 | 0.0055 | pay 0.0007% / 1h | 44m 31s | $10.9M | $4.0M | 20x |
| Short | QFEX COPPER-USD | 6.8490 | 0.0001 | get 0.0000% / 1h | 44m 31s | $1.5M | $151K | 20x |
tradeXYZ xyz:COPPER
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$11.31
- Price spread: +0.022% → −0.015%
- $3.74
- Slippage, 4 orders
- −$9.13
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$44.7
- Costs to cover
- 0.371%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 7 min ago; QFEX: 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 tradeXYZ live order book, 7 min ago | 0.73 bp | 11.0 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 5 min ago | 2.19 bp | 8.6 bp −$9 | 12.8 bp −$128 | doesn't fit | doesn't fit |
COPPER on 28 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8521 | +0.067% | $28K | $41K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8510 | +0.051% | $9.3M | $33.2M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8442 | −0.048% | $532K | $825K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8340 | −0.197% | $1.3M | $174K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8480 | +0.007% | $26.2M | $5.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8480 | +0.007% | $3.9M | $2.2M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8408 | −0.098% | $773K | $540K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8441 | −0.050% | $89K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8420 | −0.080% | — | $4.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8460 | −0.022% | $61K | $71K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8380 | −0.139% | $4.2M | $83K | 100x | as long as short |
| QFEX COPPER-USDshort | +0.0001% | 1h | 6.8490 | +0.022% | $1.5M | $151K | 20x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8466 | −0.013% | $179K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8435 | −0.059% | $95K | $321K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0031% | 4h | 6.8450 | −0.037% | $90K | $156K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8565 | +0.131% | $479K | $27K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8491 | +0.024% | $270K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8479 | +0.006% | — | $36K | 25x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8452 | −0.034% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8478 | +0.004% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8439 | −0.053% | $59K | $54K | 15x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0055% | 1h | 6.8475 | long leg | $10.9M | $4.0M | 20x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8492 | +0.025% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8500 | +0.037% | $251K | $43K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8530 | +0.080% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8479 | +0.005% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0140% | 1h | 6.8444 | −0.045% | $44K | $11K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0181% | 1h | 6.8444 | −0.045% | $34K | $180K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD