Funding you earn now, next payment 10:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.025%
Price spread now: Lighter against Phemex+0.380%7-day average +0.212% · you sell dearer than you buy
Net, funding: paid 7d − costs−$160as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$1371.367% of the position
Funding, last 7 days−0.234%−$23 on $10k
+Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.380%, 7d avg +0.212%
=Together, before fees−0.328%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.168% dearer against Phemex than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.212%. Mind the row above: over the last 7 days funding on this pair cost −0.234%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8230 | 0 | get 0.0000% / 4h | 2h 57m | $4.2M | $83K | 100x |
| Short | Lighter XCU | 6.8489 | 0.0096 | get 0.0012% / 1h | 57m 39s | $479K | $23K | 20x |
Phemex COPPERUSDT
Lighter XCUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $20.16
- Price spread: +0.380% → +0.212%
- $16.75
- Slippage, 4 orders
- −$124.74
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$99.83
- Costs to cover
- 1.367%
- Break-even
- 41.7 days
Slippage from Phemex: live order book, 6 min ago; Lighter: live order book, 27 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, 6 min ago | 0.73 bp | 67.4 bp −$67 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 27 min ago | 2.06 bp | 4.7 bp −$5 | 10.1 bp −$101 | 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 | −0.0035% | 4h | 6.8360 | +0.191% | $88K | $152K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8388 | +0.232% | $33K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8388 | +0.231% | $9.1M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8337 | +0.157% | $499K | $912K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8220 | −0.015% | $1.3M | $183K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8380 | +0.220% | $26.0M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8380 | +0.220% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8322 | +0.135% | $765K | $1.3M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8364 | +0.197% | $91K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8380 | +0.220% | — | $5.4M | 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 | 6.8390 | +0.235% | $61K | $54K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8230 | long leg | $4.2M | $83K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8323 | +0.136% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8367 | +0.201% | $95K | $321K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8380 | +0.220% | $1.5M | $144K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0030% | 1h | 6.8331 | +0.148% | $10.8M | $4.1M | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8354 | +0.181% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8347 | +0.171% | — | $36K | 25x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8334 | +0.152% | $905 | $6K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8402 | +0.252% | $57K | $53K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8355 | +0.183% | $2K | $1K | 5x | as long as short |
| Lighter XCUshort | +0.0096% | 1h | 6.8489 | +0.380% | $479K | $23K | 20x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8361 | +0.192% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8370 | +0.205% | $266K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8430 | +0.293% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8369 | +0.204% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0129% | 1h | 6.8336 | +0.155% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0330% | 1h | 6.8363 | +0.195% | $34K | $178K | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
tradeXYZ xyz:COPPER
Extended XCU-USD
Vest HG-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD