Funding you earn now, next payment 07:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.006%
Price spread now: Phemex against tradeXYZ+0.056%48s7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$135as 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−$1431.427% of the position
Funding, last 7 days+0.079%+$8 on $10k
+Price spread, last 4 days (all we have)−0.203%−$20 · spread now +0.056%, 7d avg −0.040%
=Together, before fees−0.125%+ Points / potential airdroptradeXYZ: Active · farm board−$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.096% dearer against tradeXYZ than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.040%. The two prices were read 48 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 | tradeXYZ xyz:COPPER | 6.8062 | 0.0005 | pay 0.0001% / 1h | 24m 27s | $10.6M | $5.0M | 20x |
| Short | Phemex COPPERUSDT | 6.8100 | 0 | get 0.0000% / 4h | 1h 24m | $4.2M | $82K | 100x |
tradeXYZ xyz:COPPER
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against tradeXYZ. 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
- −$0.99
- Price spread: +0.056% → −0.040%
- $9.57
- Slippage, 4 orders
- −$112.7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$134.12
- Costs to cover
- 1.427%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 4 min ago; Phemex: live order book, 4 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 tradeXYZ live order book, 4 min ago | 0.88 bp | 10.9 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.20 bp | 70.0 bp −$70 | doesn't fit | 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 | −0.0027% | 4h | 6.8110 | +0.071% | $88K | $139K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8122 | +0.088% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8105 | +0.063% | $9.1M | $33.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8074 | +0.018% | $493K | $981K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.150% | $1.3M | $523K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8100 | +0.056% | $26.2M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8080 | +0.026% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | +0.046% | $734K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8107 | +0.066% | $98K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8100 | +0.056% | — | $6.4M | 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 | 6.8140 | +0.115% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8100 | +0.056% | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8058 | −0.006% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8110 | +0.071% | $1.5M | $129K | 20x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0005% | 1h | 6.8062 | long leg | $10.6M | $5.0M | 20x | |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8091 | +0.043% | $94K | $317K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8069 | +0.010% | $275K | $2.3M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8069 | +0.010% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8068 | +0.009% | $45K | $22K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8090 | +0.041% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8050 | −0.018% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8102 | +0.059% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0096% | 1h | 6.8212 | +0.220% | $477K | $42K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8077 | +0.022% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8120 | +0.085% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.115% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8085 | +0.033% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0108% | 1h | 6.8074 | +0.017% | $34K | $176K | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD