Funding you earn now, next payment 06:00 UTC+0.0014%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h +0.029%
Price spread now: Phoenix against tradeXYZ−0.060%61s7-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
=Funding pays, the price is against you. Phoenix is 0.060% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 15 days of funding at the current rate ($0 a day). The two prices were read 61 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 | tradeXYZ xyz:COPPER | 6.8112 | 0.0033 | pay 0.0004% / 1h | 16m 32s | $10.6M | $5.0M | 20x |
| Short | Phoenix COPPER | 6.8071 | 0.0047 | get 0.0006% / 1h | 16m 32s | $45K | $22K | 20x |
tradeXYZ xyz:COPPER
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $2.9
- Price spread: −0.060% → 0.000%
- −$6.02
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.12
- Costs to cover
- 0.250%
- Break-even
- 74.8 days
Slippage unknown: tradeXYZ: live order book, 2 min ago; Phoenix: 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 tradeXYZ live order book, 2 min ago | 0.07 bp | 11.3 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0018% | 4h | 6.8150 | +0.056% | $88K | $139K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8156 | +0.064% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8164 | +0.077% | $9.1M | $33.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8095 | −0.025% | $487K | $991K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7980 | −0.194% | $1.3M | $523K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8160 | +0.070% | $26.2M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8160 | +0.070% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8103 | −0.013% | $748K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8100 | −0.018% | $88K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.026% | — | $6.4M | 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 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | +0.012% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | +0.056% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8102 | −0.014% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8150 | +0.056% | $1.5M | $128K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0014% | 4h | 6.8074 | −0.056% | $94K | $319K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8111 | −0.001% | $275K | $2.3M | 20x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0033% | 1h | 6.8112 | long leg | $10.6M | $5.0M | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8115 | +0.004% | — | $82K | 25x | as long as short |
| Phoenix COPPERshort | +0.0047% | 1h | 6.8071 | −0.060% | $45K | $22K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8138 | +0.038% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8107 | −0.007% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8055 | −0.084% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8125 | +0.019% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8140 | +0.041% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8190 | +0.115% | $3K | — | 10x | as long as short |
| Lighter XCU | +0.0104% | 1h | 6.8260 | +0.217% | $477K | $42K | 20x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8125 | +0.018% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0108% | 1h | 6.8128 | +0.024% | $34K | $176K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Lighter XCU
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD