COPPER

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.05 per $10,000 · paid last 24h +0.043%

Price spread now: Phemex against edgeX+0.011%78s7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as 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−$1471.467% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.011%, 7d avg −0.017%

Together, before fees+0.165%+ Points / potential airdropedgeX: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.028% dearer against edgeX than usual: you sell high and buy low (spread +0.011% now, against its 7-day average of −0.017%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 9.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.256%, so the current rate has only just turned against you. The two prices were read 78 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	edgeX COPPERUSDC	6.8103	0.0010	pay 0.0005% / 4h	1h 25m	$94K	$317K	20x
Short	Phemex COPPERUSDT	6.8110	0	get 0.0000% / 4h	1h 25m	$4.2M	$83K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee edgeXbpFee PhemexbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$2.05
Price spread: +0.011% → −0.017%: $2.79
Slippage, 4 orders: −$125.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$145.96
Costs to cover: 1.467%
Break-even: never at this rate

Slippage from edgeX: live order book, 17 min ago; Phemex: 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 edgeX live order book, 17 min ago	7.34 bp	12.6 bp −$13	24.1 bp −$241	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.20 bp	70.0 bp −$70	doesn't fit	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
BloFin COPPER-USDT	−0.0052%	4h	6.8100	−0.004%	$88K	$139K	100x	as long as short
tradeXYZ xyz:COPPER	−0.0001%	1h	6.8053	−0.073%	$10.6M	$5.0M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8096	−0.010%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8101	−0.002%	$9.1M	$33.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8074	−0.042%	$493K	$981K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7960	−0.210%	$1.3M	$523K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8090	−0.019%	$26.2M	$5.0M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8080	−0.033%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8063	−0.058%	$734K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8090	−0.019%	$98K	$2.4M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8100	−0.004%	—	$6.4M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8140	+0.055%	$61K	$24K	75x	as long as short
Phemex COPPERUSDTshort	0.0000%	4h	6.8110	+0.011%	$4.2M	$83K	100x
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8058	−0.066%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0003%	1h	6.8100	−0.004%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDClong	+0.0010%	4h	6.8103	long leg	$94K	$317K	20x
Extended XCU-USD	+0.0032%	1h	6.8055	−0.070%	$275K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8064	−0.057%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8066	−0.054%	$45K	$22K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8080	−0.034%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8053	−0.073%	$4K	$5K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8102	−0.001%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0088%	1h	6.8205	+0.150%	$477K	$42K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8065	−0.055%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8110	+0.011%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8150	+0.069%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8088	−0.022%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0108%	1h	6.8096	−0.009%	$34K	$176K	20x	as long as short