Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.010%
Price spread now: Phemex against Paradex−0.053%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.053% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Paradex XCU-USD-PERP | 6.7946 | 0.0050 | pay 0.0050% / 8h | 6h 35m | $1K | $2K | 5x |
| Short | Phemex COPPERUSDT | 6.7910 | 0 | get 0.0000% / 4h | 2h 35m | $4.2M | $74K | 100x |
Paradex XCU-USD-PERP
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Paradex. 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
- −$10.5
- Price spread: −0.053% → 0.000%
- −$5.34
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$31.84
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.
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 Paradex no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 3 min ago | 0.74 bp | 61.6 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.1015% | 1h | 6.7954 | +0.012% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0137% | 1h | 6.7939 | −0.011% | $10.4M | $4.8M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0051% | 4h | 6.8050 | +0.153% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7983 | +0.054% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7999 | +0.078% | $9.1M | $32.3M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7975 | +0.042% | $472K | $939K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7810 | −0.201% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7960 | +0.020% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7970 | +0.035% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7954 | +0.012% | $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 | 6.8012 | +0.097% | $95K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7960 | +0.020% | — | $6.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7980 | +0.050% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7910 | −0.053% | $4.2M | $74K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7945 | −0.003% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.7950 | +0.006% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0016% | 4h | 6.7986 | +0.059% | $94K | $317K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.7970 | +0.035% | $45K | $30K | 20x | as long as short |
| Lighter XCU | +0.0040% | 1h | 6.8084 | +0.203% | $476K | $39K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7939 | −0.011% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERPlong | +0.0050% | 8h | 6.7946 | long leg | $1K | $2K | 5x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7945 | −0.002% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7902 | −0.065% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7984 | +0.056% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7990 | +0.064% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8000 | +0.079% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7956 | +0.014% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0416% | 1h | 6.7963 | +0.025% | $230K | $2.9M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
Vest HG-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD