Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%
Price spread now: Phemex against Bitget−0.219%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$117as in the Funding arb table
Net, price: spread back to 7d avg − costs−$157as in the Price arb table
costs, in and out, $10k−$1391.390% of the position
Funding, last 7 days+0.222%+$22 on $10k
+Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.219%, 7d avg −0.039%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.180% cheaper against Bitget than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget COPPERUSDT | 6.8350 | 0 | get 0.0000% / 4h | 3h 20m | $2.5M | $1.7M | 100x |
| Short | Phemex COPPERUSDT | 6.8200 | 0 | get 0.0000% / 4h | 3h 20m | $4.2M | $78K | 100x |
Bitget COPPERUSDT
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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: −0.219% → −0.039%
- −$18
- Slippage, 4 orders
- −$114.95
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$156.95
- Costs to cover
- 1.390%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 2 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 Bitget live order book, 2 min ago | 0.73 bp | 10.5 bp −$10 | 22.7 bp −$227 | 79.7 bp −$7,965 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.73 bp | 54.5 bp −$54 | 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 | −0.0403% | 1h | 6.8331 | −0.028% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0048% | 1h | 6.8310 | −0.059% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8330 | −0.029% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8359 | +0.013% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8353 | +0.004% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8323 | −0.040% | $490K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8210 | −0.205% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8340 | −0.015% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDTlong | 0.0000% | 4h | 6.8350 | long leg | $2.5M | $1.7M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8343 | −0.010% | $741K | $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
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 | 6.8320 | −0.044% | $87K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8350 | 0.000% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8340 | −0.015% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8200 | −0.219% | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8345 | −0.008% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0005% | 4h | 6.8312 | −0.055% | $95K | $318K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8446 | +0.140% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8349 | −0.001% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8342 | −0.012% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8321 | −0.042% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0050% | 4h | 6.8340 | −0.015% | $88K | $136K | 100x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8333 | −0.025% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8320 | −0.044% | $905 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8273 | −0.113% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8340 | −0.014% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | −0.102% | $291K | $32K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8390 | +0.059% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8341 | −0.013% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
BloFin COPPER-USDT
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP