Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.091%
Price spread now: Variational Omni against Orderly−0.094%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.094% cheaper against Orderly than usual: you would sell low and buy high (−$9 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 | 6.8030 | 0.0100 | pay 0.0100% / 8h | 1h 09m | $3K | — | 10x |
| Short | Variational Omni COPPER | 6.7966 | 0 | get 0.0000% / 4h | 1h 09m | $739K | $1.6M | — |
Orderly PERP_COPPER_USDC_mythos
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$21
- Price spread: −0.094% → 0.000%
- −$9.43
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$36.43
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago | 2.98 bp | doesn't fit | 10.9 bp −$109 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:COPPER | −0.0016% | 1h | 6.7954 | −0.112% | $10.4M | $5.4M | 20x | as long as short |
| edgeX COPPERUSDC | −0.0015% | 4h | 6.7969 | −0.090% | $93K | $317K | 20x | as long as short |
| QFEX COPPER-USD | −0.0015% | 1h | 6.7980 | −0.073% | $1.5M | $135K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8006 | −0.035% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7995 | −0.052% | $9.0M | $34.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7943 | −0.128% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7840 | −0.279% | $1.3M | $499K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7980 | −0.073% | $27.0M | $5.1M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7990 | −0.059% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.7966 | −0.094% | $739K | $1.6M | — |
tradeXYZ xyz:COPPER
edgeX COPPERUSDC
QFEX COPPER-USD
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 | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.7980 | −0.073% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7990 | −0.059% | — | $7.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7990 | −0.059% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7920 | −0.162% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7984 | −0.068% | $176K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0024% | 4h | 6.7940 | −0.132% | $87K | $149K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8077 | +0.069% | $476K | $45K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.7987 | −0.063% | $231K | $2.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7973 | −0.084% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7980 | −0.074% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7943 | −0.128% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7927 | −0.151% | $56K | $55K | 15x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0060% | 1h | 6.7992 | −0.056% | $27K | $171K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7979 | −0.075% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8000 | −0.044% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythoslong | +0.0100% | 8h | 6.8030 | long leg | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7998 | −0.048% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0329% | 1h | 6.7965 | −0.096% | $45K | $30K | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Kraken Futures PF_XCUUSD
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Phoenix COPPER