Funding you earn now, next payment 08:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.10 per $10,000 · paid last 24h −0.043%
Price spread now: edgeX against Phemex+0.277%78s7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$170as 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−$1451.446% of the position
Funding, last 7 days−0.256%−$26 on $10k
+Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.277%, 7d avg +0.014%
=Together, before fees−0.440%+ Points / potential airdropedgeX: Active · farm board−$44 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.262% dearer against Phemex than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.014%. Mind the row above: over the last 7 days funding on this pair cost −0.256%, so the current rate has only just turned in your favour. The two prices were read 78 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 | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 3h 15m | $4.2M | $78K | 100x |
| Short | edgeX COPPERUSDC | 6.8339 | 0.0020 | get 0.0010% / 4h | 3h 15m | $95K | $319K | 20x |
Phemex COPPERUSDT
edgeX COPPERUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Phemex. 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
- $4.17
- Price spread: +0.277% → +0.014%
- $26.24
- Slippage, 4 orders
- −$123.59
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$114.19
- Costs to cover
- 1.446%
- Break-even
- 198.9 days
Slippage from Phemex: live order book, 3 min ago; edgeX: live order book, 37 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 Phemex live order book, 3 min ago | 1.47 bp | 65.3 bp −$65 | doesn't fit | doesn't fit | doesn't fit |
| Sell edgeX live order book, 37 min ago | 7.33 bp | 12.9 bp −$13 | 24.3 bp −$243 | 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 | 6.8279 | +0.190% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0056% | 1h | 6.8291 | +0.207% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8310 | +0.235% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8325 | +0.256% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.235% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | +0.194% | $489K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | +0.073% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8320 | +0.249% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.235% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8303 | +0.225% | $740K | $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 | 6.8352 | +0.296% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.249% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.264% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8315 | +0.241% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDCshort | +0.0020% | 4h | 6.8339 | +0.277% | $95K | $319K | 20x | |
| Lighter XCU | +0.0032% | 1h | 6.8411 | +0.383% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8320 | +0.249% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8317 | +0.245% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8325 | +0.257% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8313 | +0.239% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8288 | +0.202% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | +0.207% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8340 | +0.279% | $88K | $135K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8323 | +0.255% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.191% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8370 | +0.323% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8305 | +0.227% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
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