Funding you earn now, next payment 12:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.013%
Price spread now: Phemex against SoDEX−0.077%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.077% cheaper against SoDEX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX COPPER-USD | 6.8433 | 0.0050 | pay 0.0006% / 1h | 4m 36s | $906 | $6K | 20x |
| Short | Phemex COPPERUSDT | 6.8380 | 0 | get 0.0000% / 4h | 4m 36s | $4.2M | $84K | 100x |
SoDEX COPPER-USD
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against SoDEX. 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
- −$10.5
- Price spread: −0.077% → 0.000%
- −$7.74
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$38.24
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.
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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 0.73 bp | 63.2 bp −$63 | doesn't fit | doesn't fit | doesn't fit |
SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0057% | 4h | 6.8460 | +0.039% | $90K | $158K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8456 | +0.033% | $28K | $41K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8458 | +0.037% | $9.2M | $32.3M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8371 | −0.091% | $534K | $804K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8270 | −0.238% | $1.3M | $174K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8450 | +0.025% | $25.6M | $5.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8420 | −0.019% | $3.9M | $2.2M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8465 | +0.047% | $780K | $559K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8509 | +0.111% | $91K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8470 | +0.054% | — | $4.3M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8500 | +0.098% | $61K | $61K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8380 | −0.077% | $4.2M | $84K | 100x | |
| QFEX COPPER-USD | +0.0001% | 1h | 6.8440 | +0.010% | $1.5M | $151K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8411 | −0.033% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8461 | +0.042% | $95K | $320K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8526 | +0.136% | $479K | $27K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8414 | −0.027% | $268K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8422 | −0.016% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8422 | −0.016% | $10.9M | $3.6M | 20x | as long as short |
| SoDEX COPPER-USDlong | +0.0050% | 1h | 6.8433 | long leg | $906 | $6K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8420 | −0.018% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8466 | +0.048% | $59K | $53K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8415 | −0.026% | $25K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8440 | +0.010% | $251K | $43K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8500 | +0.098% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8433 | 0.000% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0140% | 1h | 6.8470 | +0.054% | $44K | $11K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0181% | 1h | 6.8436 | +0.005% | $34K | $180K | 20x | as long as short |
HTX COPPER-USDT
QFEX COPPER-USD
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD