Funding you earn now, next payment 23:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.021%
Price spread now: Phoenix against Gate+0.147%77s7-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
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.147% dearer against Gate than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 77 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 | Gate XCU_USDT | 6.7910 | 0 | get 0.0000% / 8h | 5m 58s | $1.3M | $493K | 100x |
| Short | Phoenix COPPER | 6.8010 | 0.0035 | get 0.0004% / 1h | 5m 58s | $45K | $30K | 20x |
Gate XCU_USDT
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- $7.41
- Price spread: +0.147% → 0.000%
- $14.73
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $0.14
- Costs to cover
- 0.220%
- Break-even
- 6.9 days
Slippage unknown: Gate: 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 Gate live order book, 1 min ago | 2.21 bp | 32.5 bp −$32 | 114.1 bp −$1,141 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0014% | 4h | 6.8006 | +0.141% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8057 | +0.217% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8060 | +0.221% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8020 | +0.162% | $467K | $980K | 50x | as long as short |
| Gate XCU_USDTlong | 0.0000% | 8h | 6.7910 | long leg | $1.3M | $493K | 100x | |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8050 | +0.206% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8080 | +0.250% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8056 | +0.215% | $740K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8026 | +0.171% | $89K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8060 | +0.221% | — | $7.5M | 20x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
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 | 6.8040 | +0.191% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7970 | +0.088% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8037 | +0.187% | $177K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0006% | 4h | 6.8020 | +0.162% | $87K | $149K | 100x | as long as short |
| QFEX COPPER-USD | +0.0013% | 1h | 6.8040 | +0.191% | $1.5M | $130K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8149 | +0.352% | $477K | $45K | 20x | as long as short |
| Phoenix COPPERshort | +0.0035% | 1h | 6.8010 | +0.147% | $45K | $30K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8016 | +0.156% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8051 | +0.208% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8026 | +0.171% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8035 | +0.184% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8037 | +0.187% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8034 | +0.183% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8050 | +0.206% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8100 | +0.280% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8048 | +0.204% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7951 | +0.060% | $28K | $174K | 20x | as long as short |
| Extended XCU-USD | +0.0536% | 1h | 6.8035 | +0.185% | $230K | $2.9M | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
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
Extended XCU-USD