Funding you earn now, next payment 01:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.022%
Price spread now: Lighter against Phemex+0.383%7-day average +0.203% · you sell dearer than you buy
Net, funding: paid 7d − costs−$176as in the Funding arb table
Net, price: spread back to 7d avg − costs−$140as in the Price arb table
costs, in and out, $10k−$1581.582% of the position
Funding, last 7 days−0.181%−$18 on $10k
+Price spread, last 3 days (all we have)−0.130%−$13 · spread now +0.383%, 7d avg +0.203%
=Together, before fees−0.311%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.179% dearer against Phemex than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of +0.203%. Mind the row above: over the last 7 days funding on this pair cost −0.181%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.7920 | 0 | get 0.0000% / 4h | 3h 47m | $4.2M | $78K | 100x |
| Short | Lighter XCU | 6.8180 | 0.0056 | get 0.0007% / 1h | 47m 24s | $477K | $45K | 20x |
Phemex COPPERUSDT
Lighter XCUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $11.76
- Price spread: +0.383% → +0.203%
- $17.93
- Slippage, 4 orders
- −$146.21
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$128.52
- Costs to cover
- 1.582%
- Break-even
- 83.5 days
Slippage from Phemex: live order book, 1 min ago; Lighter: live order book, 18 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, 1 min ago | 0.74 bp | 72.9 bp −$73 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 18 min ago | 2.86 bp | 13.2 bp −$13 | 16.3 bp −$163 | 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 | −0.0448% | 1h | 6.7948 | +0.041% | $28K | $174K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.8104 | +0.270% | $94K | $319K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8074 | +0.227% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8090 | +0.250% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8059 | +0.205% | $470K | $990K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7950 | +0.044% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8080 | +0.236% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8110 | +0.280% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8094 | +0.257% | $741K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8130 | +0.309% | $94K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
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 | 6.8100 | +0.265% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.309% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.7920 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8056 | +0.200% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8070 | +0.221% | $1.5M | $139K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0028% | 4h | 6.8080 | +0.236% | $87K | $150K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8053 | +0.196% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8079 | +0.235% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8059 | +0.205% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8048 | +0.188% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8059 | +0.205% | $57K | $55K | 15x | as long as short |
| Lighter XCUshort | +0.0056% | 1h | 6.8180 | +0.383% | $477K | $45K | 20x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8058 | +0.203% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8050 | +0.191% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.324% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8074 | +0.226% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8095 | +0.258% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0376% | 1h | 6.8050 | +0.191% | $229K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD