Funding you earn now, next payment 21:00 UTC+0.0329%/8h= +36.1% APRpaid last 24h +0.077%
Price spread now: Phoenix against Variational Omni+0.088%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
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Phoenix is 0.088% dearer against Variational Omni than usual: you sell high and buy low: +$9 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 | Variational Omni COPPER | 6.7853 | 0 | get 0.0000% / 4h | 2h 32m | $752K | $1.6M | — |
| Short | Phoenix COPPER | 6.7912 | 0.0329 | get 0.0041% / 1h | 32m 46s | $45K | $30K | 20x |
Variational Omni COPPER
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $69.19
- Price spread: +0.088% → 0.000%
- $8.75
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $70.94
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago | 2.98 bp | doesn't fit | 21.1 bp −$211 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX COPPER-USD | −0.0101% | 1h | 6.7847 | −0.008% | $898 | $3K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0071% | 1h | 6.7825 | −0.041% | $10.3M | $5.9M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0060% | 4h | 6.7840 | −0.019% | $87K | $148K | 100x | as long as short |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.7852 | 0.000% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7891 | +0.057% | $32K | $52K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7856 | +0.005% | $8.9M | $34.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7836 | −0.025% | $469K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7780 | −0.107% | $1.3M | $522K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7860 | +0.011% | $25.6M | $4.1M | 100x | as long as short |
| Variational Omni COPPERlong | 0.0000% | 4h | 6.7853 | long leg | $752K | $1.6M | — |
SoDEX COPPER-USD
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.7891 | +0.056% | $89K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7850 | −0.004% | — | $7.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7880 | +0.040% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7840 | −0.019% | $4.2M | $82K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.7964 | +0.164% | $476K | $46K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.7902 | +0.073% | $234K | $2.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7905 | +0.077% | — | $82K | 25x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7772 | −0.119% | $64K | $26K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0051% | 8h | 6.7850 | −0.004% | $1K | $3K | 5x | as long as short |
| QFEX COPPER-USD | +0.0053% | 1h | 6.7870 | +0.026% | $1.5M | $138K | 20x | as long as short |
| Bitget COPPERUSDT | +0.0076% | 4h | 6.7850 | −0.004% | $1.6M | $1.1M | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7899 | +0.068% | $23K | $16K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7920 | +0.099% | $257K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.7940 | +0.129% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7848 | −0.007% | $310 | — | 10x | as long as short |
| Phoenix COPPERshort | +0.0329% | 1h | 6.7912 | +0.088% | $45K | $30K | 20x | |
| Kraken Futures PF_XCUUSD | +0.0952% | 1h | 6.7840 | −0.019% | $26K | $177K | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
QFEX COPPER-USD
Bitget COPPERUSDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD