Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.016%
Price spread now: Bitget against Phemex+0.088%46s7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$157as 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−$1351.347% of the position
Funding, last 7 days−0.222%−$22 on $10k
+Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.088%, 7d avg +0.041%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.047% dearer against Phemex than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.041%. The two prices were read 46 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 | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 2h 01m | $4.2M | $81K | 100x |
| Short | Bitget COPPERUSDT | 6.8210 | 0 | get 0.0000% / 4h | 2h 01m | $2.9M | $2.0M | 100x |
Phemex COPPERUSDT
Bitget COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phemex. 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: +0.088% → +0.041%
- $4.69
- Slippage, 4 orders
- −$110.72
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$130.04
- Costs to cover
- 1.347%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; Bitget: 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 Phemex live order book, 2 min ago | 0.73 bp | 54.3 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 0.73 bp | 10.6 bp −$11 | 29.1 bp −$291 | 97.5 bp −$9,748 | 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 | −0.0481% | 1h | 6.8214 | +0.094% | $34K | $176K | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8210 | +0.088% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8214 | +0.093% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8220 | +0.103% | $9.2M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8167 | +0.025% | $497K | $974K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.103% | $1.3M | $533K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | +0.103% | $26.7M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDTshort | 0.0000% | 4h | 6.8210 | +0.088% | $2.9M | $2.0M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8243 | +0.137% | $740K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8229 | +0.116% | $90K | $2.3M | 25x | as long as short |
Kraken Futures PF_XCUUSD
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8220 | +0.103% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.147% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $81K | 100x | |
| tradeXYZ xyz:COPPER | +0.0001% | 1h | 6.8176 | +0.038% | $10.6M | $5.0M | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8182 | +0.046% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8221 | +0.104% | $95K | $319K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8223 | +0.107% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8306 | +0.229% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8191 | +0.060% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8184 | +0.050% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8206 | +0.083% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8169 | +0.028% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8169 | +0.028% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0056% | 4h | 6.8210 | +0.088% | $87K | $140K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8203 | +0.078% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8210 | +0.088% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8280 | +0.191% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8208 | +0.085% | $312 | — | 10x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
tradeXYZ xyz:COPPER
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP