Funding you earn now, next payment 02:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.042%
Price spread now: tradeXYZ against Orderly−0.142%7-day average — · you buy dearer than you sell
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
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and tradeXYZ is 0.142% cheaper against Orderly than usual: you would sell low and buy high (−$14 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 | Orderly PERP_COPPER_USDC_mythos | 6.8130 | 0.0100 | pay 0.0100% / 8h | 6h 15m | $3K | — | 10x |
| Short | tradeXYZ xyz:COPPER | 6.8033 | −0.0130 | pay 0.0016% / 1h | 15m 54s | $10.4M | $4.8M | 20x |
Orderly PERP_COPPER_USDC_mythos
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Orderly. 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
- −$48.34
- Price spread: −0.142% → 0.000%
- −$14.24
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$86.58
- Costs to cover
- 0.240%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; tradeXYZ: live order book, 3 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 Orderly no order-book sample | — | — | — | — | — |
| Sell tradeXYZ live order book, 3 min ago | 0.59 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 27 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 | −0.1013% | 1h | 6.8078 | −0.077% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPERshort | −0.0130% | 1h | 6.8033 | −0.142% | $10.4M | $4.8M | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8077 | −0.077% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8070 | −0.088% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8080 | −0.073% | $472K | $932K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7920 | −0.308% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8060 | −0.103% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8070 | −0.088% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8072 | −0.085% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8017 | −0.165% | $95K | $2.0M | 25x | as long as short |
Kraken Futures PF_XCUUSD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8080 | −0.073% | — | $6.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8070 | −0.088% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8000 | −0.191% | $4.2M | $74K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8088 | −0.061% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.8070 | −0.088% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0016% | 4h | 6.7998 | −0.194% | $94K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8180 | +0.073% | $477K | $39K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.8001 | −0.189% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8082 | −0.070% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8072 | −0.085% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8069 | −0.090% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8020 | −0.161% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8067 | −0.092% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8070 | −0.088% | $258K | $23K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythoslong | +0.0100% | 8h | 6.8130 | long leg | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8070 | −0.088% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0312% | 1h | 6.8061 | −0.102% | $230K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Lighter XCU
Phoenix COPPER
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Extended XCU-USD