Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.054%
Price spread now: Phemex against Binance−0.279%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$125as in the Funding arb table
Net, price: spread back to 7d avg − costs−$174as in the Price arb table
costs, in and out, $10k−$1491.494% of the position
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 2 days (all we have)+0.264%+$26 · spread now −0.279%, 7d avg −0.028%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.251% cheaper against Binance than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of −0.028%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COPPERUSDT | 6.8100 | 0 | get 0.0000% / 4h | 3h 01m | $9.1M | $33.1M | 100x |
| Short | Phemex COPPERUSDT | 6.7910 | 0 | get 0.0000% / 4h | 3h 01m | $4.2M | $76K | 100x |
Binance COPPERUSDT
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Binance. 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: −0.279% → −0.028%
- −$25.1
- Slippage, 4 orders
- −$127.36
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$174.46
- Costs to cover
- 1.494%
- Break-even
- never at this rate
Slippage from Binance: live order book, 10 min ago; Phemex: live order book, 3 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 Binance live order book, 10 min ago | 0.73 bp | 6.3 bp −$6 | 11.7 bp −$117 | 56.3 bp −$5,628 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.74 bp | 61.8 bp −$62 | doesn't fit | 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 | 6.8076 | −0.035% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0039% | 1h | 6.8039 | −0.090% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8103 | +0.005% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8100 | long leg | $9.1M | $33.1M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8058 | −0.062% | $472K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.206% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8100 | 0.000% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8120 | +0.029% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | −0.010% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8146 | +0.068% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
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 | 0.000% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8150 | +0.073% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7910 | −0.279% | $4.2M | $76K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8063 | −0.054% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8080 | −0.029% | $1.5M | $130K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0004% | 4h | 6.8107 | +0.010% | $94K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8196 | +0.141% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8069 | −0.046% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8095 | −0.007% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8064 | −0.053% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8071 | −0.043% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0052% | 4h | 6.8080 | −0.029% | $87K | $149K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8077 | −0.034% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8090 | −0.015% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8170 | +0.103% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8090 | −0.015% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | −0.019% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0384% | 1h | 6.8070 | −0.044% | $231K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
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
Extended XCU-USD