Funding you earn now, next payment 07:00 UTC+0.0055%/8h= +6.0% APRnext payment +$0.07 per $10,000 · paid last 24h +0.012%
Price spread now: Phoenix against Ondo Perps+0.038%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
=Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.038% dearer against Ondo Perps than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). 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 | Ondo Perps COPPER-USD.P | 6.8253 | 0.0050 | pay 0.0006% / 1h | 40m 10s | $57K | $55K | 15x |
| Short | Phoenix COPPER | 6.8279 | 0.0106 | get 0.0013% / 1h | 40m 10s | $45K | $22K | 20x |
Ondo Perps COPPER-USD.P
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $11.59
- Price spread: +0.038% → 0.000%
- $3.81
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $3.4
- Costs to cover
- 0.120%
- Break-even
- 4.9 days
Slippage unknown: Ondo Perps: no order-book sample; 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Ondo Perps and 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8297 | +0.064% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8340 | +0.127% | $9.1M | $33.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8284 | +0.045% | $495K | $1.0M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8180 | −0.107% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8340 | +0.127% | $26.6M | $5.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8340 | +0.127% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8332 | +0.115% | $765K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8281 | +0.040% | $94K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8340 | +0.127% | — | $6.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.098% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8210 | −0.063% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8284 | +0.045% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0005% | 4h | 6.8293 | +0.059% | $95K | $317K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8320 | +0.098% | $1.5M | $128K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0043% | 4h | 6.8340 | +0.127% | $88K | $143K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8281 | +0.041% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8306 | +0.078% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8303 | +0.073% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8300 | +0.069% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.Plong | +0.0050% | 1h | 6.8253 | long leg | $57K | $55K | 15x | |
| Extended XCU-USD | +0.0056% | 1h | 6.8275 | +0.032% | $272K | $2.0M | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8286 | +0.048% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8300 | +0.069% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8380 | +0.186% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8321 | +0.099% | $312 | — | 10x | as long as short |
| Phoenix COPPERshort | +0.0106% | 1h | 6.8279 | +0.038% | $45K | $22K | 20x | |
| Lighter XCU | +0.0168% | 1h | 6.8423 | +0.249% | $479K | $26K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0357% | 1h | 6.8294 | +0.060% | $34K | $177K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
BloFin COPPER-USDT
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Extended XCU-USD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Lighter XCU
Kraken Futures PF_XCUUSD