Funding you earn now, next payment 12:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%
Price spread now: Orderly against Phemex+0.146%7-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 +$3 a day on $10k at the current rate, and Orderly is 0.146% dearer against Phemex 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).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8430 | 0 | get 0.0000% / 4h | 1h 28m | $4.2M | $82K | 100x |
| Short | Orderly PERP_COPPER_USDC_mythos | 6.8530 | 0.0100 | get 0.0100% / 8h | 5h 28m | $3K | — | 10x |
Phemex COPPERUSDT
Orderly PERP_COPPER_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Phemex. 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: +0.146% → 0.000%
- $14.61
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $17.61
- Costs to cover
- 0.180%
- Break-even
- 1.1 days
Slippage unknown: Phemex: live order book, 3 min ago; Orderly: 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 Phemex live order book, 3 min ago | 0.73 bp | 53.8 bp −$54 | doesn't fit | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0043% | 4h | 6.8490 | +0.088% | $89K | $159K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8488 | +0.085% | $35K | $31K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8487 | +0.083% | $9.0M | $32.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8356 | −0.108% | $515K | $807K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8330 | −0.146% | $1.3M | $181K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8480 | +0.073% | $26.2M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8450 | +0.029% | $3.9M | $2.1M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8429 | −0.002% | $775K | $538K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8450 | +0.029% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8480 | +0.073% | — | $4.7M | 20x | as long as short |
BloFin COPPER-USDT
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-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8500 | +0.102% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8430 | long leg | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8427 | −0.004% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.8430 | 0.000% | $95K | $321K | 20x | as long as short |
| QFEX COPPER-USD | +0.0011% | 1h | 6.8460 | +0.044% | $1.5M | $150K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8552 | +0.178% | $480K | $25K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8469 | +0.057% | $267K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8457 | +0.039% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8445 | +0.022% | $10.8M | $3.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8447 | +0.025% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8449 | +0.027% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8399 | −0.045% | $59K | $54K | 15x | as long as short |
| Phoenix COPPER | +0.0093% | 1h | 6.8455 | +0.037% | $44K | $18K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8463 | +0.048% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8480 | +0.073% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythosshort | +0.0100% | 8h | 6.8530 | +0.146% | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8465 | +0.052% | $313 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0337% | 1h | 6.8432 | +0.003% | $34K | $180K | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Phoenix COPPER
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD