Funding you earn now, next payment 08:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.07 per $10,000 · paid last 24h +0.043%
Price spread now: Phemex against edgeX−0.145%7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$120as in the Funding arb table
Net, price: spread back to 7d avg − costs−$159as in the Price arb table
costs, in and out, $10k−$1461.458% of the position
Funding, last 7 days+0.256%+$26 on $10k
+Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.145%, 7d avg −0.016%
=Together, before fees+0.313%+ Points / potential airdropedgeX: Active · farm board+$31 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phemex is 0.129% cheaper against edgeX than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.016%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.256%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX COPPERUSDC | 6.8319 | 0.0013 | pay 0.0007% / 4h | 2h 47m | $95K | $319K | 20x |
| Short | Phemex COPPERUSDT | 6.8220 | 0 | get 0.0000% / 4h | 2h 47m | $4.2M | $79K | 100x |
edgeX COPPERUSDC
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against edgeX. 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
- −$2.77
- Price spread: −0.145% → −0.016%
- −$12.86
- Slippage, 4 orders
- −$124.75
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$161.38
- Costs to cover
- 1.458%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 1 min ago; Phemex: live order book, 2 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 edgeX live order book, 1 min ago | 7.32 bp | 12.9 bp −$13 | 25.7 bp −$257 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 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 | −0.0480% | 1h | 6.8365 | +0.067% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0004% | 1h | 6.8340 | +0.031% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8360 | +0.060% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8382 | +0.092% | $33K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8378 | +0.087% | $9.2M | $33.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8320 | +0.001% | $490K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8150 | −0.247% | $1.3M | $520K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8370 | +0.075% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8370 | +0.075% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8313 | −0.009% | $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
Bitget COPPERUSDT
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 | +0.001% | $91K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8370 | +0.075% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8360 | +0.060% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8220 | −0.145% | $4.2M | $79K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8362 | +0.063% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDClong | +0.0013% | 4h | 6.8319 | long leg | $95K | $319K | 20x | |
| Phoenix COPPER | +0.0023% | 1h | 6.8311 | −0.012% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8466 | +0.215% | $478K | $39K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8358 | +0.057% | $275K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8353 | +0.050% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8330 | +0.017% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8339 | +0.029% | $905 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8287 | −0.047% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0056% | 4h | 6.8360 | +0.060% | $88K | $138K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8339 | +0.030% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8380 | +0.089% | $279K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8420 | +0.148% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8357 | +0.056% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
Lighter XCU
Extended XCU-USD
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