Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%
Price spread now: OKX against Phemex+0.230%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$156as in the Funding arb table
Net, price: spread back to 7d avg − costs−$130as in the Price arb table
costs, in and out, $10k−$1541.536% of the position
Funding, last 7 days−0.022%−$2 on $10k
+Price spread, last 3 days (all we have)−0.162%−$16 · spread now +0.230%, 7d avg −0.009%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.239% dearer against Phemex than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.7920 | 0 | get 0.0000% / 4h | 3h 48m | $4.2M | $78K | 100x |
| Short | OKX XCU-USDT-SWAP | 6.8076 | 0 | get 0.0000% / 8h | 7h 48m | $470K | $991K | 50x |
Phemex COPPERUSDT
OKX XCU-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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: +0.230% → −0.009%
- $23.91
- Slippage, 4 orders
- −$131.6
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$129.69
- Costs to cover
- 1.536%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; OKX: live order book, 13 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 | 0.74 bp | 70.9 bp −$71 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 13 min ago | 0.74 bp | 8.3 bp −$8 | 30.3 bp −$303 | 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 | −0.0448% | 1h | 6.7948 | +0.041% | $28K | $174K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.8080 | +0.236% | $93K | $318K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8070 | +0.221% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8090 | +0.250% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAPshort | 0.0000% | 8h | 6.8076 | +0.230% | $470K | $991K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.7950 | +0.044% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8080 | +0.236% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8090 | +0.250% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8094 | +0.257% | $741K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8100 | +0.265% | $94K | $2.2M | 25x | as long as short |
Kraken Futures PF_XCUUSD
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8100 | +0.265% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.309% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.7920 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8045 | +0.184% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8090 | +0.250% | $1.5M | $139K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0028% | 4h | 6.8080 | +0.236% | $87K | $150K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8060 | +0.206% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8096 | +0.260% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8045 | +0.184% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8048 | +0.188% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8059 | +0.205% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0056% | 1h | 6.8180 | +0.383% | $477K | $45K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8077 | +0.231% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8010 | +0.133% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.324% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8074 | +0.226% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8095 | +0.258% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0376% | 1h | 6.8044 | +0.182% | $229K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD