Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.080%
Price spread now: Variational Omni against Extended+0.004%7-day average −0.066% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.102%−$10 on $10k
+Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.004%, 7d avg −0.066%
=Together, before fees−0.028%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.070% dearer against Extended than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.066%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.3 days. At the pace of the last 3 days (−0.102% in total) that is about 2.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended XCU-USD | 6.7964 | 0.0032 | pay 0.0004% / 1h | 10m 35s | $231K | $2.9M | 20x |
| Short | Variational Omni COPPER | 6.7967 | 0 | get 0.0000% / 4h | 1h 10m | $739K | $1.6M | — |
Extended XCU-USD
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$6.72
- Price spread: +0.004% → −0.066%
- $6.98
- Slippage, 4 orders
- no order book: not counted
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$4.74
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 Extended live order book, 3 min ago | 1.99 bp | 9.3 bp −$9 | 70.8 bp −$708 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 2.98 bp | doesn't fit | 10.9 bp −$109 | 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 | −0.0026% | 4h | 6.7940 | −0.035% | $87K | $149K | 100x | as long as short |
| QFEX COPPER-USD | −0.0015% | 1h | 6.7960 | −0.006% | $1.5M | $135K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0011% | 1h | 6.7935 | −0.043% | $10.4M | $5.4M | 20x | as long as short |
| edgeX COPPERUSDC | −0.0009% | 4h | 6.7964 | 0.000% | $93K | $316K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7976 | +0.017% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7983 | +0.028% | $9.0M | $34.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7943 | −0.031% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7830 | −0.197% | $1.3M | $499K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7970 | +0.009% | $26.9M | $5.1M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7970 | +0.009% | $1.7M | $1.0M | 100x | as long as short |
BloFin COPPER-USDT
QFEX COPPER-USD
tradeXYZ xyz:COPPER
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPERshort | 0.0000% | 4h | 6.7967 | +0.004% | $739K | $1.6M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.7980 | +0.024% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7970 | +0.009% | — | $7.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7990 | +0.038% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7920 | −0.065% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7951 | −0.019% | $176K | — | 250x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8069 | +0.154% | $476K | $45K | 20x | as long as short |
| Extended XCU-USDlong | +0.0032% | 1h | 6.7964 | long leg | $231K | $2.9M | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.7943 | −0.031% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7979 | +0.021% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7943 | −0.031% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7915 | −0.072% | $56K | $55K | 15x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0060% | 1h | 6.7955 | −0.013% | $26K | $171K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7973 | +0.014% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7980 | +0.024% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8030 | +0.097% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7967 | +0.004% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0329% | 1h | 6.7930 | −0.050% | $45K | $30K | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Kraken Futures PF_XCUUSD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER