Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.021%
Price spread now: MEXC against Phemex+0.073%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$144as in the Funding arb table
Net, price: spread back to 7d avg − costs−$113as in the Price arb table
costs, in and out, $10k−$1171.168% of the position
Funding, last 7 days−0.268%−$27 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now +0.073%, 7d avg +0.034%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.039% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8390 | 0 | get 0.0000% / 4h | 1h 45m | $4.2M | $82K | 100x |
| Short | MEXC COPPER_USDT | 6.8440 | 0 | get 0.0000% / 4h | 1h 45m | $26.3M | $5.6M | 100x |
Phemex COPPERUSDT
MEXC COPPER_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- $0
- Price spread: +0.073% → +0.034%
- $3.94
- Slippage, 4 orders
- −$104.76
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$112.82
- Costs to cover
- 1.168%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; MEXC: live order book, 1 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, 2 min ago | 0.73 bp | 54.6 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
| Sell MEXC live order book, 1 min ago | 0.73 bp | 0.7 bp −$1 | 2.5 bp −$25 | 8.1 bp −$807 | 226.5 bp −$113.3K |
COPPER on 28 exchanges
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 | −0.0016% | 4h | 6.8450 | +0.088% | $89K | $158K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8468 | +0.114% | $35K | $31K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8456 | +0.097% | $9.0M | $32.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8388 | −0.003% | $510K | $805K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8290 | −0.146% | $1.3M | $181K | 100x | as long as short |
| MEXC COPPER_USDTshort | 0.0000% | 4h | 6.8440 | +0.073% | $26.3M | $5.6M | 100x | |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8420 | +0.044% | $3.6M | $1.9M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8428 | +0.055% | $774K | $538K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8465 | +0.110% | $92K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8440 | +0.073% | — | $4.8M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8480 | +0.132% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8390 | long leg | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8425 | +0.051% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0011% | 1h | 6.8420 | +0.044% | $1.5M | $150K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8449 | +0.087% | $95K | $321K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8522 | +0.193% | $480K | $25K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8429 | +0.057% | $271K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8406 | +0.023% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8415 | +0.037% | $10.8M | $3.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8427 | +0.054% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8394 | +0.006% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8432 | +0.061% | $59K | $52K | 15x | as long as short |
| Phoenix COPPER | +0.0093% | 1h | 6.8443 | +0.077% | $44K | $18K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8403 | +0.019% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8460 | +0.102% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8510 | +0.175% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8433 | +0.063% | $313 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0337% | 1h | 6.8447 | +0.083% | $34K | $180K | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Phoenix COPPER
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD