Funding you earn now, next payment 04:00 UTC−0.0016%/8h= −1.7% APRpaid last 24h +0.060%
Price spread now: OKX against BloFin−0.059%63s7-day average −0.035% · you buy dearer than you sell
Net, funding: paid 7d − costs−$16as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.372% of the position
Funding, last 7 days+0.211%+$21 on $10k
+Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.059%, 7d avg −0.035%
=Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.024% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.035%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.211%, so the current rate has only just turned against you. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin COPPER-USDT | 6.8090 | 0.0016 | pay 0.0008% / 4h | 2h 58m | $87K | $149K | 100x |
| Short | OKX XCU-USDT-SWAP | 6.8050 | 0 | get 0.0000% / 8h | 6h 58m | $472K | $951K | 50x |
BloFin COPPER-USDT
OKX XCU-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BloFin. 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
- −$3.34
- Price spread: −0.059% → −0.035%
- −$2.37
- Slippage, 4 orders
- −$15.2
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$42.91
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 58 min ago; OKX: live order book, 63 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 BloFin live order book, 58 min ago | 1.47 bp | 8.5 bp −$8 | 11.4 bp −$114 | 37.2 bp −$3,716 | 112.8 bp −$56.4K |
| Sell OKX live order book, 63 min ago | 0.74 bp | 8.3 bp −$8 | 30.3 bp −$303 | 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 | −0.1013% | 1h | 6.8085 | −0.007% | $32K | $178K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0149% | 1h | 6.8046 | −0.065% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8109 | +0.028% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8072 | −0.026% | $9.1M | $33.0M | 100x | as long as short |
| OKX XCU-USDT-SWAPshort | 0.0000% | 8h | 6.8050 | −0.059% | $472K | $951K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.191% | $1.3M | $477K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8070 | −0.029% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | +0.015% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | +0.005% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8123 | +0.048% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
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 | +0.015% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8170 | +0.117% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.264% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8069 | −0.031% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0004% | 4h | 6.8107 | +0.025% | $94K | $319K | 20x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.8110 | +0.029% | $1.5M | $129K | 20x | as long as short |
| BloFin COPPER-USDTlong | +0.0016% | 4h | 6.8090 | long leg | $87K | $149K | 100x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8079 | −0.016% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8125 | +0.051% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8044 | −0.068% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8114 | +0.035% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8176 | +0.126% | $477K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8115 | +0.036% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | +0.029% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8160 | +0.103% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8082 | −0.012% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | −0.004% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0392% | 1h | 6.8057 | −0.048% | $231K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD