Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.045%
Price spread now: Variational Omni against tradeXYZ+0.064%7-day average +0.005% · 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)−0.058%−$6 on $10k
+Price spread, last 7 days−0.023%−$2 · spread now +0.064%, 7d avg +0.005%
=Together, before fees−0.081%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.059% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.005%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COPPER | 6.7953 | 0.0050 | pay 0.0006% / 1h | 45m 15s | $10.4M | $5.4M | 20x |
| Short | Variational Omni COPPER | 6.7997 | 0 | get 0.0000% / 4h | 45m 15s | $739K | $1.6M | — |
tradeXYZ xyz:COPPER
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$10.5
- Price spread: +0.064% → +0.005%
- $5.91
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$22.59
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: tradeXYZ: live order book, 3 min ago; Variational Omni: RFQ quote, 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 tradeXYZ live order book, 3 min ago | 0.07 bp | 10.7 bp −$11 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 4 min ago | 2.98 bp | doesn't fit | 10.9 bp −$109 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0005% | 4h | 6.8014 | +0.090% | $93K | $318K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7992 | +0.058% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7980 | +0.040% | $9.0M | $34.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7948 | −0.007% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7850 | −0.152% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7970 | +0.025% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7990 | +0.054% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.7997 | +0.064% | $739K | $1.6M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8045 | +0.136% | $89K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7980 | +0.040% | — | $7.6M | 20x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
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 | 6.8050 | +0.143% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.063% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7946 | −0.011% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0013% | 1h | 6.7980 | +0.040% | $1.5M | $131K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8076 | +0.181% | $476K | $45K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.8011 | +0.085% | $45K | $30K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0038% | 4h | 6.8010 | +0.084% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7952 | −0.001% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7988 | +0.051% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0050% | 1h | 6.7953 | long leg | $10.4M | $5.4M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7952 | −0.001% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8028 | +0.110% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7987 | +0.051% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7970 | +0.025% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8060 | +0.157% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7976 | +0.034% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0272% | 1h | 6.7952 | −0.002% | $230K | $2.9M | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7914 | −0.058% | $28K | $173K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Lighter XCU
Phoenix COPPER
BloFin COPPER-USDT
Vest HG-PERP
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
Kraken Futures PF_XCUUSD