Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.044%
Price spread now: Phemex against Extended−0.195%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1251.246% of the position
Funding, last 7 days−0.106%−$11 on $10k
+Price spread, last 4 days (all we have)−0.024%−$2 · spread now −0.195%, 7d avg −0.077%
=Together, before fees−0.130%+ Points / potential airdropExtended: Active · farm board−$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.117% cheaper against Extended than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.077%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XCU-USD | 6.8283 | 0.0032 | pay 0.0004% / 1h | 7m 22s | $267K | $2.5M | 20x |
| Short | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 3h 07m | $4.2M | $78K | 100x |
Extended XCU-USD
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Extended. 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
- −$6.72
- Price spread: −0.195% → −0.077%
- −$11.71
- Slippage, 4 orders
- −$107.63
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$143.06
- Costs to cover
- 1.246%
- Break-even
- never at this rate
Slippage from Extended: live order book, 1 min ago; Phemex: live order book, 1 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 Extended live order book, 1 min ago | 0.29 bp | 4.3 bp −$4 | 61.0 bp −$610 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 0.73 bp | 55.3 bp −$55 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0404% | 1h | 6.8255 | −0.041% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0050% | 1h | 6.8255 | −0.041% | $10.6M | $4.9M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0018% | 4h | 6.8250 | −0.048% | $88K | $135K | 100x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8260 | −0.033% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8296 | +0.019% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8281 | −0.003% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8249 | −0.050% | $489K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8190 | −0.136% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8270 | −0.019% | $26.2M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8260 | −0.033% | $2.5M | $1.7M | 100x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.8252 | −0.045% | $740K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8280 | −0.004% | $87K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8260 | −0.033% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8280 | −0.004% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8150 | −0.195% | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8285 | +0.003% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8251 | −0.046% | $95K | $318K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8391 | +0.158% | $478K | $40K | 20x | as long as short |
| Extended XCU-USDlong | +0.0032% | 1h | 6.8283 | long leg | $267K | $2.5M | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8279 | −0.006% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8278 | −0.007% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8260 | −0.033% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8245 | −0.055% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8279 | −0.006% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8276 | −0.009% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | −0.004% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8340 | +0.084% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8256 | −0.039% | $312 | — | 10x | as long as short |
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP