Funding you earn now, next payment 01:00 UTC+0.0424%/8h= +46.5% APRnext payment +$0.53 per $10,000 · paid last 24h +0.038%
Price spread now: Extended against tradeXYZ+0.064%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$350.353% of the position
Funding, last 7 days+0.181%+$18 on $10k
+Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.064%, 7d avg +0.040%
=Together, before fees+0.151%+ Points / potential airdroptradeXYZ: Active · Extended: Active · farm board+$15 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Extended is 0.024% dearer against tradeXYZ than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.040%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.181% in total (about 9.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COPPER | 6.8046 | −0.0040 | get 0.0005% / 1h | 59m 53s | $10.4M | $5.0M | 20x |
| Short | Extended XCU-USD | 6.8089 | 0.0384 | get 0.0048% / 1h | 59m 53s | $229K | $2.9M | 20x |
tradeXYZ xyz:COPPER
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against tradeXYZ. 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
- $89.1
- Price spread: +0.064% → +0.040%
- $2.41
- Slippage, 4 orders
- −$12.33
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- $56.18
- Costs to cover
- 0.353%
- Break-even
- 2.6 days
Slippage from tradeXYZ: live order book, 9 min ago; Extended: live order book, 4 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 tradeXYZ live order book, 9 min ago | 0.07 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 4 min ago | 2.42 bp | 5.4 bp −$5 | 60.3 bp −$603 | 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 | −0.0447% | 1h | 6.8065 | +0.028% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPERlong | −0.0040% | 1h | 6.8046 | long leg | $10.4M | $5.0M | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8112 | +0.098% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8115 | +0.101% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8074 | +0.041% | $472K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7970 | −0.112% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8110 | +0.094% | $27.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | +0.079% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | +0.069% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8146 | +0.147% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
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 | +0.079% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8150 | +0.153% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.200% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8072 | +0.039% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8080 | +0.050% | $1.5M | $130K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0004% | 4h | 6.8107 | +0.089% | $94K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8206 | +0.235% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8069 | +0.034% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8084 | +0.056% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8071 | +0.037% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8071 | +0.037% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0052% | 4h | 6.8080 | +0.050% | $87K | $149K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8063 | +0.025% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8100 | +0.079% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.138% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8088 | +0.061% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | +0.060% | $45K | $30K | 20x | as long as short |
| Extended XCU-USDshort | +0.0384% | 1h | 6.8089 | +0.064% | $229K | $2.9M | 20x |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Lighter XCU
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
Phoenix COPPER