Funding you earn now, next payment 02:00 UTC−0.0330%/8h= −36.1% APRnext payment −$0.41 per $10,000 · paid last 24h −0.034%
Price spread now: QFEX against Extended−0.014%7-day average −0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$250.254% of the position
Funding, last 3 days (all we have)−0.055%−$6 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now −0.014%, 7d avg −0.065%
=Together, before fees−0.138%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.051% dearer against Extended than usual: you sell high and buy low (spread −0.014% now, against its 7-day average of −0.065%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.055% in total) that is about 3.2 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.055% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.41 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 | Extended XCU-USD | 6.8030 | 0.0336 | pay 0.0042% / 1h | 18m 26s | $232K | $2.9M | 20x |
| Short | QFEX COPPER-USD | 6.8020 | 0.0006 | get 0.0001% / 1h | 18m 26s | $1.5M | $129K | 20x |
Extended XCU-USD
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Extended. 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
- −$69.23
- Price spread: −0.014% → −0.065%
- $5.1
- Slippage, 4 orders
- −$10.43
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$89.56
- Costs to cover
- 0.254%
- Break-even
- never at this rate
Slippage from Extended: live order book, 5 min ago; QFEX: 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 Extended live order book, 5 min ago | 0.07 bp | 7.6 bp −$8 | 76.8 bp −$768 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 1.47 bp | 6.5 bp −$6 | 11.6 bp −$116 | doesn't fit | doesn't fit |
COPPER on 27 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 | −0.1014% | 1h | 6.8005 | −0.036% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0130% | 1h | 6.8001 | −0.042% | $10.4M | $4.8M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8049 | +0.029% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8046 | +0.024% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8029 | −0.001% | $472K | $931K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7880 | −0.220% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8030 | +0.001% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8060 | +0.045% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8012 | −0.025% | $741K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8000 | −0.043% | $88K | $2.0M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8000 | −0.043% | — | $6.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8050 | +0.030% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7950 | −0.117% | $4.2M | $74K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8044 | +0.021% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0006% | 1h | 6.8020 | −0.014% | $1.5M | $129K | 20x | |
| edgeX COPPERUSDC | +0.0019% | 4h | 6.7998 | −0.047% | $94K | $318K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8146 | +0.171% | $477K | $39K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.8001 | −0.042% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8031 | +0.002% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8044 | +0.021% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8017 | −0.018% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8020 | −0.014% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8036 | +0.010% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8040 | +0.015% | $258K | $23K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8090 | +0.089% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8027 | −0.003% | $311 | — | 10x | as long as short |
| Extended XCU-USDlong | +0.0336% | 1h | 6.8030 | long leg | $232K | $2.9M | 20x |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Phoenix COPPER
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP