Funding you earn now, next payment 01:00 UTC+0.0044%/8h= +4.8% APRnext payment +$0.05 per $10,000 · paid last 24h +0.008%
Price spread now: QFEX against tradeXYZ+0.050%7-day average −0.017% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$390.392% of the position
Funding, last 3 days (all we have)+0.002%$0 on $10k
+Price spread, last 7 days−0.017%−$2 · spread now +0.050%, 7d avg −0.017%
=Together, before fees−0.015%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.067% dearer against tradeXYZ than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.017%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COPPER | 6.8046 | −0.0040 | get 0.0005% / 1h | 0m 07s | $10.4M | $5.0M | 20x |
| Short | QFEX COPPER-USD | 6.8080 | 0.0004 | get 0.0000% / 1h | 0m 07s | $1.5M | $130K | 20x |
tradeXYZ xyz:COPPER
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- $9.18
- Price spread: +0.050% → −0.017%
- $6.72
- Slippage, 4 orders
- −$11.16
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$23.27
- Costs to cover
- 0.392%
- Break-even
- 24.8 days
Slippage from tradeXYZ: live order book, 9 min ago; QFEX: live order book, 6 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, 9 min ago | 0.07 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell QFEX live order book, 6 min ago | 2.20 bp | 8.7 bp −$9 | 12.9 bp −$129 | 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 | −0.0447% | 1h | 6.8065 | +0.028% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPERlong | −0.0040% | 1h | 6.8046 | long leg | $10.4M | $5.0M | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8109 | +0.093% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8110 | +0.094% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8025 | −0.031% | $472K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7950 | −0.141% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8100 | +0.079% | $27.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | +0.079% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | +0.069% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8146 | +0.147% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
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 | +0.079% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8150 | +0.153% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.200% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8072 | +0.039% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDshort | +0.0004% | 1h | 6.8080 | +0.050% | $1.5M | $130K | 20x | |
| edgeX COPPERUSDC | +0.0004% | 4h | 6.8107 | +0.089% | $94K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8206 | +0.235% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8069 | +0.034% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8084 | +0.056% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8071 | +0.037% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8071 | +0.037% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0052% | 4h | 6.8080 | +0.050% | $87K | $149K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8063 | +0.025% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8090 | +0.065% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.138% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8088 | +0.061% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | +0.060% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0384% | 1h | 6.8078 | +0.046% | $229K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD