Funding you earn now, next payment 08:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.27 per $10,000 · paid last 24h −0.017%
Price spread now: BloFin against Bitget−0.029%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$340.338% of the position
Funding, last 7 days−0.019%−$2 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.029%, 7d avg −0.006%
=Funding pays, the price is against you. BloFin is 0.024% cheaper against Bitget than usual: you would sell low and buy high (spread −0.029% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 34 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget COPPERUSDT | 6.8240 | 0 | get 0.0000% / 4h | 2h 08m | $2.9M | $2.0M | 100x |
| Short | BloFin COPPER-USDT | 6.8220 | 0.0055 | get 0.0027% / 4h | 2h 08m | $87K | $140K | 100x |
Bitget COPPERUSDT
BloFin COPPER-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Bitget. 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
- $11.53
- Price spread: −0.029% → −0.006%
- −$2.36
- Slippage, 4 orders
- −$9.8
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$24.64
- Costs to cover
- 0.338%
- Break-even
- 22.0 days
Slippage from Bitget: live order book, 4 min ago; BloFin: 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 Bitget live order book, 4 min ago | 0.73 bp | 9.5 bp −$10 | 23.2 bp −$232 | 76.8 bp −$7,682 | doesn't fit |
| Sell BloFin live order book, 3 min ago | 1.47 bp | 7.5 bp −$7 | 11.2 bp −$112 | 35.0 bp −$3,496 | 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 | −0.0480% | 1h | 6.8254 | +0.020% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0003% | 1h | 6.8214 | −0.038% | $10.6M | $5.0M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8250 | +0.015% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8250 | +0.014% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8250 | +0.015% | $9.2M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8178 | −0.091% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8100 | −0.205% | $1.3M | $532K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8250 | +0.015% | $26.7M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDTlong | 0.0000% | 4h | 6.8240 | long leg | $2.9M | $2.0M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8223 | −0.025% | $740K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
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 | 6.8221 | −0.028% | $95K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.015% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.015% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8240 | 0.000% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8225 | −0.022% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.8219 | −0.030% | $95K | $318K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8242 | +0.003% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8325 | +0.125% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8226 | −0.020% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8215 | −0.037% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8239 | −0.002% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8205 | −0.051% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8245 | +0.007% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDTshort | +0.0055% | 4h | 6.8220 | −0.029% | $87K | $140K | 100x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8236 | −0.005% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8250 | +0.015% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8320 | +0.117% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8249 | +0.012% | $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
Phoenix COPPER
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