Funding you earn now, next payment 03:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.045%
Price spread now: Bitget against Phoenix−0.072%79s7-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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bitget is 0.072% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 79 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 | Phoenix COPPER | 6.8229 | 0.0164 | pay 0.0020% / 1h | 28m 11s | $45K | $23K | 20x |
| Short | Bitget COPPERUSDT | 6.8180 | 0 | get 0.0000% / 4h | 28m 11s | $2.5M | $1.7M | 100x |
Phoenix COPPER
Bitget COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Phoenix. 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
- −$34.43
- Price spread: −0.072% → 0.000%
- −$7.18
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$60.61
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Bitget: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Bitget live order book, 4 min ago | 0.73 bp | 10.3 bp −$10 | 21.8 bp −$218 | 88.0 bp −$8,801 | doesn't fit |
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 | 6.8213 | −0.024% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8200 | −0.043% | $9.0M | $32.8M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8175 | −0.079% | $480K | $960K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.218% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | −0.043% | $26.0M | $4.3M | 100x | as long as short |
| Bitget COPPERUSDTshort | 0.0000% | 4h | 6.8180 | −0.072% | $2.5M | $1.7M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8203 | −0.038% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8240 | +0.016% | $96K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8190 | −0.057% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8260 | +0.045% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
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 | 6.8130 | −0.145% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8197 | −0.047% | $178K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0003% | 4h | 6.8210 | −0.028% | $88K | $143K | 100x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8180 | −0.072% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0013% | 4h | 6.8212 | −0.025% | $95K | $320K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8299 | +0.103% | $477K | $40K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8189 | −0.059% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8172 | −0.083% | $1K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8178 | −0.075% | $10.5M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8177 | −0.076% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8229 | 0.000% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8192 | −0.055% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8210 | −0.028% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8270 | +0.060% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8178 | −0.074% | $312 | — | 10x | as long as short |
| Phoenix COPPERlong | +0.0164% | 1h | 6.8229 | long leg | $45K | $23K | 20x | |
| Kraken Futures PF_XCUUSD | +0.0291% | 1h | 6.8165 | −0.094% | $34K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0528% | 1h | 6.8201 | −0.042% | $263K | $2.8M | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
QFEX COPPER-USD
edgeX COPPERUSDC
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD