Funding you earn now, next payment 08:00 UTC−0.0014%/8h= −1.6% APRnext payment −$0.07 per $10,000 · paid last 24h −0.008%
Price spread now: Binance against BloFin+0.090%101s7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as 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−$270.267% of the position
Funding, last 7 days−0.020%−$2 on $10k
+Price spread, last 4 days (all we have)−0.142%−$14 · spread now +0.090%, 7d avg −0.013%
=The price spread pays, funding is against you. Binance is 0.103% dearer against BloFin than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of −0.013%): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 24 days. The two prices were read 101 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 | BloFin COPPER-USDT | 6.8310 | 0.0014 | pay 0.0007% / 4h | 2h 47m | $88K | $138K | 100x |
| Short | Binance COPPERUSDT | 6.8372 | 0 | get 0.0000% / 4h | 2h 47m | $9.2M | $33.0M | 100x |
BloFin COPPER-USDT
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against BloFin. 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
- −$3.01
- Price spread: +0.090% → −0.013%
- $10.34
- Slippage, 4 orders
- −$4.75
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$19.42
- Costs to cover
- 0.267%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 31 min ago; Binance: live order book, 9 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 BloFin live order book, 31 min ago | 0.73 bp | 7.4 bp −$7 | 11.7 bp −$117 | 34.3 bp −$3,430 | 86.8 bp −$43.4K |
| Sell Binance live order book, 9 min ago | 0.73 bp | 6.7 bp −$7 | 10.6 bp −$106 | 76.0 bp −$7,596 | 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 | 6.8334 | +0.035% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0003% | 1h | 6.8311 | +0.001% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8360 | +0.073% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8376 | +0.097% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8372 | +0.090% | $9.2M | $33.0M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8320 | +0.015% | $490K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8140 | −0.249% | $1.3M | $520K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8350 | +0.059% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8360 | +0.073% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8313 | +0.004% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
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 | 6.8320 | +0.015% | $91K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.029% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8360 | +0.073% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8190 | −0.176% | $4.2M | $79K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8336 | +0.039% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0013% | 4h | 6.8319 | +0.013% | $95K | $319K | 20x | as long as short |
| BloFin COPPER-USDTlong | +0.0014% | 4h | 6.8310 | long leg | $88K | $138K | 100x | |
| Phoenix COPPER | +0.0023% | 1h | 6.8311 | +0.001% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8441 | +0.192% | $478K | $39K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8354 | +0.064% | $275K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8353 | +0.063% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8330 | +0.030% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8305 | −0.007% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8287 | −0.034% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8339 | +0.043% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8350 | +0.059% | $279K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8380 | +0.102% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8332 | +0.032% | $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