Funding you earn now, next payment 23:00 UTC−0.0149%/8h= −16.3% APRnext payment −$0.19 per $10,000 · paid last 24h +0.001%
Price spread now: Phoenix against Extended+0.022%48s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Phoenix is 0.022% dearer against Extended than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 12 hours. 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 | Extended XCU-USD | 6.7995 | 0.0184 | pay 0.0023% / 1h | 52m 30s | $231K | $2.9M | 20x |
| Short | Phoenix COPPER | 6.8010 | 0.0035 | get 0.0004% / 1h | 52m 30s | $45K | $30K | 20x |
Extended XCU-USD
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Extended. 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
- −$31.23
- Price spread: +0.022% → 0.000%
- $2.16
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$41.07
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Extended: live order book, 1 min ago; Phoenix: no order-book sample. 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 Extended live order book, 1 min ago | 1.84 bp | 7.9 bp −$8 | 64.7 bp −$647 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 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 | −0.0038% | 4h | 6.8030 | +0.051% | $87K | $149K | 100x | as long as short |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.8025 | +0.044% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8010 | +0.022% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8020 | +0.036% | $9.0M | $34.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7971 | −0.036% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7880 | −0.170% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8020 | +0.036% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8030 | +0.051% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8016 | +0.030% | $739K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8060 | +0.095% | $89K | $2.2M | 25x | as long as short |
BloFin COPPER-USDT
edgeX COPPERUSDC
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 | 6.8020 | +0.036% | — | $7.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8040 | +0.066% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.125% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7987 | −0.012% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0013% | 1h | 6.8010 | +0.022% | $1.5M | $131K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8102 | +0.157% | $476K | $45K | 20x | as long as short |
| Phoenix COPPERshort | +0.0035% | 1h | 6.8010 | +0.022% | $45K | $30K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.7983 | −0.018% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8017 | +0.033% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.7982 | −0.020% | $10.4M | $5.4M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7989 | −0.009% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7970 | −0.037% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8015 | +0.030% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8010 | +0.022% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8100 | +0.154% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8016 | +0.031% | $311 | — | 10x | as long as short |
| Extended XCU-USDlong | +0.0184% | 1h | 6.7995 | long leg | $231K | $2.9M | 20x | |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7932 | −0.093% | $28K | $173K | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD