Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.044%
Price spread now: Extended against Phemex+0.202%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$114as in the Funding arb table
Net, price: spread back to 7d avg − costs−$112as 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)+0.016%+$2 · spread now +0.202%, 7d avg +0.077%
=Together, before fees+0.122%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.125% dearer against Phemex than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.077%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 3h 07m | $4.2M | $78K | 100x |
| Short | Extended XCU-USD | 6.8288 | 0.0032 | get 0.0004% / 1h | 7m 18s | $267K | $2.5M | 20x |
Phemex COPPERUSDT
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $6.72
- Price spread: +0.202% → +0.077%
- $12.5
- Slippage, 4 orders
- −$107.63
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$105.41
- Costs to cover
- 1.246%
- Break-even
- 116.8 days
Slippage from Phemex: live order book, 2 min ago; Extended: 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 | 60.5 bp −$61 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 1 min ago | 0.29 bp | 4.5 bp −$5 | 59.8 bp −$598 | 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 | 6.8251 | +0.148% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0050% | 1h | 6.8255 | +0.154% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8260 | +0.161% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8297 | +0.215% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8282 | +0.193% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8249 | +0.145% | $489K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8190 | +0.059% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8270 | +0.176% | $26.2M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8270 | +0.176% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8252 | +0.150% | $740K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
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 | 6.8280 | +0.191% | $87K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8270 | +0.176% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8280 | +0.191% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8285 | +0.198% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8251 | +0.149% | $95K | $318K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0027% | 4h | 6.8260 | +0.161% | $88K | $135K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8395 | +0.360% | $478K | $40K | 20x | as long as short |
| Extended XCU-USDshort | +0.0032% | 1h | 6.8288 | +0.202% | $267K | $2.5M | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8279 | +0.189% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8278 | +0.188% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8260 | +0.161% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8265 | +0.169% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8279 | +0.189% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8276 | +0.185% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.191% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8340 | +0.279% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8268 | +0.174% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
BloFin COPPER-USDT
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