Funding you earn now, next payment 10:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%
Price spread now: Phemex against Vest−0.197%45s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.197% cheaper against Vest than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 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 | Vest HG-PERP | 6.8385 | 0.0046 | pay 0.0006% / 1h | 17m 36s | — | $36K | 25x |
| Short | Phemex COPPERUSDT | 6.8250 | 0 | get 0.0000% / 4h | 2h 17m | $4.2M | $82K | 100x |
Vest HG-PERP
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Vest. 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
- −$9.59
- Price spread: −0.197% → 0.000%
- −$19.74
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$43.33
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Phemex: live order book, 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 0.73 bp | 49.4 bp −$49 | doesn't fit | doesn't fit | doesn't fit |
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 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0015% | 4h | 6.8430 | +0.066% | $89K | $155K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8426 | +0.060% | $35K | $47K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8421 | +0.053% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8391 | +0.009% | $503K | $843K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8290 | −0.139% | $1.3M | $184K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8430 | +0.066% | $26.5M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8440 | +0.080% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8401 | +0.023% | $767K | $549K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8440 | +0.080% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8430 | +0.066% | — | $5.0M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8460 | +0.110% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8250 | −0.197% | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8388 | +0.004% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0007% | 4h | 6.8410 | +0.037% | $95K | $320K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8410 | +0.037% | $1.5M | $150K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8388 | +0.004% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERPlong | +0.0046% | 1h | 6.8385 | long leg | — | $36K | 25x | |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8395 | +0.015% | $10.8M | $3.9M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8417 | +0.047% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8405 | +0.029% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8367 | −0.026% | $59K | $52K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8525 | +0.205% | $480K | $23K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8407 | +0.032% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8400 | +0.022% | $266K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8500 | +0.168% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8435 | +0.073% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0117% | 1h | 6.8398 | +0.019% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0329% | 1h | 6.8417 | +0.046% | $34K | $180K | 20x | as long as short |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD