Funding you earn now, next payment 09:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.024%
Price spread now: Gate against Phoenix−0.247%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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.247% cheaper against Phoenix than usual: you would sell low and buy high (−$25 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 | Phoenix COPPER | 6.8479 | 0.0117 | pay 0.0015% / 1h | 58m 47s | $44K | $16K | 20x |
| Short | Gate XCU_USDT | 6.8310 | 0 | get 0.0000% / 8h | 5h 58m | $1.3M | $180K | 100x |
Phoenix COPPER
Gate XCU_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$24.59
- Price spread: −0.247% → 0.000%
- −$24.68
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$71.27
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago | 1.46 bp | 40.5 bp −$40 | 222.9 bp −$2,229 | doesn't fit | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8507 | +0.041% | $35K | $47K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8510 | +0.045% | $9.0M | $32.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8437 | −0.061% | $508K | $821K | 50x | as long as short |
| Gate XCU_USDTshort | 0.0000% | 8h | 6.8310 | −0.247% | $1.3M | $180K | 100x | |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8500 | +0.031% | $26.3M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8500 | +0.031% | $3.2M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8449 | −0.044% | $768K | $531K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8445 | −0.050% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8510 | +0.045% | — | $4.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8490 | +0.016% | $61K | $71K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8300 | −0.261% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8412 | −0.097% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0012% | 4h | 6.8447 | −0.047% | $95K | $321K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8490 | +0.016% | $1.5M | $150K | 20x | as long as short |
| BloFin XCU-USDT | +0.0021% | 8h | 6.8437 | −0.061% | $48K | $302K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8475 | −0.007% | $274K | $1.7M | 20x | as long as short |
| Lighter XCU | +0.0040% | 1h | 6.8573 | +0.137% | $480K | $25K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8467 | −0.018% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8474 | −0.007% | $10.8M | $3.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8470 | −0.013% | $907 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8482 | +0.005% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8453 | −0.038% | $59K | $52K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8490 | +0.016% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8480 | +0.001% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8560 | +0.118% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8496 | +0.024% | $313 | — | 10x | as long as short |
| Phoenix COPPERlong | +0.0117% | 1h | 6.8479 | long leg | $44K | $16K | 20x | |
| Kraken Futures PF_XCUUSD | +0.0336% | 1h | 6.8483 | +0.006% | $34K | $180K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
BloFin XCU-USDT
Extended XCU-USD
Lighter XCU
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD