Funding you earn now, next payment 07:00 UTC−0.0151%/8h= −16.6% APRnext payment −$0.19 per $10,000 · paid last 24h −0.022%
Price spread now: QFEX against Lighter−0.154%7-day average −0.187% · 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−$37as in the Price arb table
costs, in and out, $10k−$400.400% of the position
Funding, last 4 days (all we have)+0.312%+$31 on $10k
+Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.154%, 7d avg −0.187%
=Together, before fees+0.326%+ Points / potential airdropLighter: Season 3 · farm board+$33 on $10k · with fees, hour by hour
The price spread pays, funding is against you. QFEX is 0.034% dearer against Lighter than usual: you sell high and buy low (spread −0.154% now, against its 7-day average of −0.187%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 4 days funding on this pair paid +0.312%, 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 | Lighter XCU | 6.8325 | 0.0168 | pay 0.0021% / 1h | 58m 05s | $478K | $26K | 20x |
| Short | QFEX COPPER-USD | 6.8220 | 0.0017 | get 0.0002% / 1h | 58m 05s | $1.5M | $128K | 20x |
Lighter XCU
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Lighter. 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
- −$31.8
- Price spread: −0.154% → −0.187%
- $3.36
- Slippage, 4 orders
- −$30.01
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$68.45
- Costs to cover
- 0.400%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 37 min ago; QFEX: live order book, 4 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 Lighter live order book, 37 min ago | 2.86 bp | 10.3 bp −$10 | 29.6 bp −$296 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 4 min ago | 2.20 bp | 7.2 bp −$7 | 11.4 bp −$114 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0021% | 4h | 6.8220 | −0.154% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8195 | −0.190% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8222 | −0.150% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8166 | −0.233% | $495K | $1.0M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8070 | −0.373% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | −0.154% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | −0.124% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8103 | −0.325% | $751K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8110 | −0.315% | $86K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | −0.139% | — | $6.4M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8170 | −0.227% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8220 | −0.154% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8182 | −0.209% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0012% | 4h | 6.8088 | −0.346% | $94K | $319K | 20x | as long as short |
| QFEX COPPER-USDshort | +0.0017% | 1h | 6.8220 | −0.154% | $1.5M | $128K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8179 | −0.214% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8061 | −0.386% | $45K | $22K | 20x | as long as short |
| Extended XCU-USD | +0.0048% | 1h | 6.8171 | −0.226% | $272K | $2.3M | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8197 | −0.187% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8178 | −0.215% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8189 | −0.200% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8181 | −0.211% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8174 | −0.221% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8200 | −0.183% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8270 | −0.080% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8190 | −0.198% | $312 | — | 10x | as long as short |
| Lighter XCUlong | +0.0168% | 1h | 6.8325 | long leg | $478K | $26K | 20x | |
| Kraken Futures PF_XCUUSD | +0.0358% | 1h | 6.8207 | −0.172% | $34K | $177K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Vest HG-PERP
Phoenix COPPER
Extended XCU-USD
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD