Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.001%
Price spread now: Phemex against Ondo Perps−0.062%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.062% cheaper against Ondo Perps than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps COPPER-USD.P | 6.7992 | 0.0050 | pay 0.0006% / 1h | 54m 35s | $57K | $55K | 15x |
| Short | Phemex COPPERUSDT | 6.7950 | 0 | get 0.0000% / 4h | 3h 54m | $4.2M | $78K | 100x |
Ondo Perps COPPER-USD.P
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Ondo Perps. 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
- −$10.58
- Price spread: −0.062% → 0.000%
- −$6.18
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$33.76
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 0.74 bp | 61.8 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0448% | 1h | 6.7944 | −0.070% | $28K | $174K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0011% | 4h | 6.8070 | +0.115% | $87K | $150K | 100x | as long as short |
| edgeX COPPERUSDC | −0.0005% | 4h | 6.8046 | +0.080% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8090 | +0.144% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8085 | +0.136% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8072 | +0.118% | $470K | $990K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.047% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8080 | +0.129% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | +0.159% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8076 | +0.123% | $741K | $1.6M | — | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8079 | +0.128% | $94K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8080 | +0.129% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8060 | +0.100% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7950 | −0.062% | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8057 | +0.096% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8070 | +0.115% | $1.5M | $139K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.8062 | +0.103% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8049 | +0.084% | — | $82K | 25x | as long as short |
| Lighter XCU | +0.0048% | 1h | 6.8180 | +0.277% | $477K | $45K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8084 | +0.136% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8049 | +0.084% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8063 | +0.104% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.Plong | +0.0050% | 1h | 6.7992 | long leg | $57K | $55K | 15x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8080 | +0.129% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8020 | +0.041% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8140 | +0.218% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8062 | +0.103% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0400% | 1h | 6.8061 | +0.101% | $230K | $2.9M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Phoenix COPPER
Vest HG-PERP
Lighter XCU
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD