Funding you earn now, next payment 01:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h −0.009%
Price spread now: Vest against Phoenix+0.062%7-day average — · you sell dearer than you buy
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
=Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Vest is 0.062% dearer against Phoenix than usual: you sell high and buy low: +$6 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 | Phoenix COPPER | 6.7962 | 0.0035 | pay 0.0004% / 1h | 21m 03s | $45K | $30K | 20x |
| Short | Vest HG-PERP | 6.8004 | 0.0046 | get 0.0006% / 1h | 21m 03s | — | $82K | 25x |
Phoenix COPPER
Vest HG-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $2.19
- Price spread: +0.062% → 0.000%
- $6.18
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$0.63
- Costs to cover
- 0.090%
- Break-even
- 9.0 days
Slippage unknown: Phoenix: no order-book sample; Vest: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Vest no order-book sample | — | — | — | — | — |
Phoenix and Vest: 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 | −0.1014% | 1h | 6.8017 | +0.080% | $32K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0134% | 1h | 6.7979 | +0.025% | $10.4M | $4.8M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8035 | +0.107% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8020 | +0.085% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8018 | +0.082% | $472K | $930K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.135% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8010 | +0.071% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8030 | +0.100% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8012 | +0.074% | $741K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8000 | +0.056% | $88K | $2.0M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
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 | 6.8010 | +0.071% | — | $6.8M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8050 | +0.129% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7940 | −0.032% | $4.2M | $74K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8018 | +0.083% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0003% | 4h | 6.7969 | +0.010% | $94K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.8020 | +0.085% | $1.5M | $129K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8118 | +0.230% | $477K | $39K | 20x | as long as short |
| Phoenix COPPERlong | +0.0035% | 1h | 6.7962 | long leg | $45K | $30K | 20x | |
| Vest HG-PERPshort | +0.0046% | 1h | 6.8004 | +0.062% | — | $82K | 25x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8007 | +0.066% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8007 | +0.066% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7932 | −0.044% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8012 | +0.073% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8030 | +0.100% | $258K | $23K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8070 | +0.159% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8004 | +0.062% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0344% | 1h | 6.8021 | +0.086% | $231K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Lighter XCU
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD