Funding you earn now, next payment 10:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.013%
Price spread now: SoDEX against Phemex+0.229%7-day average — · you sell dearer than you buy
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
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.229% dearer against Phemex than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8270 | 0 | get 0.0000% / 4h | 2h 08m | $4.2M | $81K | 100x |
| Short | SoDEX COPPER-USD | 6.8426 | 0.0050 | get 0.0006% / 1h | 8m 46s | $906 | $6K | 20x |
Phemex COPPERUSDT
SoDEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $10.5
- Price spread: +0.229% → 0.000%
- $22.85
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- $13.35
- Costs to cover
- 0.200%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 3 min ago; SoDEX: no order-book sample. 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 Phemex live order book, 3 min ago | 0.73 bp | 71.1 bp −$71 | doesn't fit | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8456 | +0.272% | $35K | $47K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8470 | +0.293% | $9.0M | $31.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8391 | +0.177% | $504K | $823K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8300 | +0.044% | $1.3M | $184K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8470 | +0.293% | $26.5M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8470 | +0.293% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8450 | +0.263% | $768K | $531K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8467 | +0.288% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8470 | +0.293% | — | $4.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8480 | +0.308% | $61K | $71K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8270 | long leg | $4.2M | $81K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8423 | +0.225% | $178K | — | 250x | as long as short |
| BloFin XCU-USDT | +0.0004% | 8h | 6.8399 | +0.189% | $48K | $298K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0006% | 4h | 6.8443 | +0.253% | $95K | $319K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8440 | +0.249% | $1.5M | $150K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8428 | +0.231% | $274K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8423 | +0.224% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8427 | +0.230% | $10.8M | $3.8M | 20x | as long as short |
| SoDEX COPPER-USDshort | +0.0050% | 1h | 6.8426 | +0.229% | $906 | $6K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8432 | +0.238% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8392 | +0.179% | $59K | $52K | 15x | as long as short |
| Lighter XCU | +0.0072% | 1h | 6.8535 | +0.388% | $480K | $23K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8432 | +0.237% | $23K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8430 | +0.234% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8510 | +0.352% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8451 | +0.264% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0117% | 1h | 6.8431 | +0.236% | $44K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0329% | 1h | 6.8451 | +0.265% | $34K | $180K | 20x | as long as short |
gTrade (Gains Network) HG/USD
BloFin XCU-USDT
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD