Funding you earn now, next payment 02:00 UTC−0.0410%/8h= −44.9% APRnext payment −$0.51 per $10,000 · paid last 24h −0.034%
Price spread now: QFEX against Extended+0.010%7-day average −0.065% · 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−$26as in the Price arb table
costs, in and out, $10k−$330.333% of the position
Funding, last 3 days (all we have)−0.055%−$6 on $10k
+Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.010%, 7d avg −0.065%
=Together, before fees−0.162%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.075% dearer against Extended than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.065%): +$7 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 3 days (−0.055% in total) that is about 4.7 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.055% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XCU-USD | 6.7983 | 0.0416 | pay 0.0052% / 1h | 39m 56s | $230K | $2.9M | 20x |
| Short | QFEX COPPER-USD | 6.7990 | 0.0006 | get 0.0001% / 1h | 39m 56s | $1.5M | $129K | 20x |
Extended XCU-USD
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$86.03
- Price spread: +0.010% → −0.065%
- $7.49
- Slippage, 4 orders
- −$18.33
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$111.87
- Costs to cover
- 0.333%
- Break-even
- never at this rate
Slippage from Extended: live order book, 4 min ago; QFEX: live order book, 2 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, 4 min ago | 2.28 bp | 10.7 bp −$11 | 70.2 bp −$702 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 2 min ago | 1.47 bp | 7.9 bp −$8 | 12.4 bp −$124 | 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 | −0.1014% | 1h | 6.8010 | +0.039% | $32K | $175K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0140% | 1h | 6.7930 | −0.078% | $10.4M | $4.8M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0051% | 4h | 6.8050 | +0.098% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7998 | +0.021% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7999 | +0.023% | $9.1M | $32.3M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7965 | −0.027% | $472K | $942K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.167% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7980 | −0.005% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7990 | +0.010% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7974 | −0.013% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
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 | 6.8036 | +0.078% | $95K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7990 | +0.010% | — | $6.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8060 | +0.113% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.108% | $4.2M | $74K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7975 | −0.012% | $176K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0006% | 1h | 6.7990 | +0.010% | $1.5M | $129K | 20x | |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.7994 | +0.016% | $94K | $317K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.7977 | −0.009% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7970 | −0.020% | — | $82K | 25x | as long as short |
| Lighter XCU | +0.0048% | 1h | 6.8085 | +0.150% | $476K | $39K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7990 | +0.010% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7963 | −0.030% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7986 | +0.004% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7979 | −0.006% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7990 | +0.010% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8030 | +0.069% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7987 | +0.005% | $311 | — | 10x | as long as short |
| Extended XCU-USDlong | +0.0416% | 1h | 6.7983 | long leg | $230K | $2.9M | 20x |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Vest HG-PERP
Lighter XCU
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP