Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.055%
Price spread now: Phemex against MEXC−0.220%50s7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$127as 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−$1511.513% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.220%, 7d avg −0.019%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.201% cheaper against MEXC than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 50 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 | MEXC COPPER_USDT | 6.8140 | 0 | get 0.0000% / 4h | 1h 48m | $26.0M | $4.2M | 100x |
| Short | Phemex COPPERUSDT | 6.7990 | 0 | get 0.0000% / 4h | 1h 48m | $4.2M | $75K | 100x |
MEXC COPPER_USDT
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- $0
- Price spread: −0.220% → −0.019%
- −$20.08
- Slippage, 4 orders
- −$139.3
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$171.38
- Costs to cover
- 1.513%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 min ago; Phemex: live order book, 5 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 MEXC live order book, 5 min ago | 0.73 bp | 0.7 bp −$1 | 1.4 bp −$14 | 9.2 bp −$920 | 433.1 bp −$216.6K |
| Sell Phemex live order book, 5 min ago | 1.47 bp | 67.7 bp −$68 | doesn't fit | doesn't fit | doesn't fit |
COPPER on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX COPPER-USD | 0.0000% | 1h | 6.8120 | −0.029% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8154 | +0.020% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8140 | 0.000% | $9.1M | $32.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8107 | −0.048% | $472K | $939K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7990 | −0.220% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDTlong | 0.0000% | 4h | 6.8140 | long leg | $26.0M | $4.2M | 100x | |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8160 | +0.029% | $1.7M | $999K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8132 | −0.012% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8154 | +0.021% | $95K | $2.0M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8130 | −0.015% | — | $6.7M | 20x | as long as short |
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8180 | +0.059% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7990 | −0.220% | $4.2M | $75K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8108 | −0.047% | $178K | — | 250x | as long as short |
| Phoenix COPPER | +0.0012% | 1h | 6.8126 | −0.021% | $45K | $23K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0018% | 4h | 6.8170 | +0.044% | $94K | $318K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8103 | −0.054% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8121 | −0.027% | $1K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8113 | −0.040% | $10.4M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8112 | −0.041% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8139 | −0.001% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8222 | +0.120% | $477K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8105 | −0.052% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8130 | −0.015% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8200 | +0.088% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8132 | −0.012% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0195% | 1h | 6.8134 | −0.009% | $32K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0512% | 1h | 6.8112 | −0.041% | $224K | $2.8M | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
edgeX COPPERUSDC
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD