Funding you earn now, next payment 01:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.02 per $10,000 · paid last 24h +0.001%
Price spread now: Phoenix against Lighter−0.178%7-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
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.178% cheaper against Lighter than usual: you would sell low and buy high (−$18 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XCU | 6.8088 | 0.0048 | pay 0.0006% / 1h | 39m 15s | $476K | $39K | 20x |
| Short | Phoenix COPPER | 6.7967 | 0.0035 | get 0.0004% / 1h | 39m 15s | $45K | $30K | 20x |
Lighter XCU
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- −$2.68
- Price spread: −0.178% → 0.000%
- −$17.77
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$27.45
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 21 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 Lighter live order book, 21 min ago | 2.57 bp | 6.4 bp −$6 | 29.2 bp −$292 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.1014% | 1h | 6.7979 | −0.160% | $32K | $175K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0140% | 1h | 6.7931 | −0.231% | $10.4M | $4.8M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0051% | 4h | 6.8050 | −0.056% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7991 | −0.142% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7990 | −0.144% | $9.1M | $32.3M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7964 | −0.182% | $472K | $941K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.320% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7990 | −0.144% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8010 | −0.115% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7974 | −0.167% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8000 | −0.129% | $95K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7990 | −0.144% | — | $6.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8060 | −0.041% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.261% | $4.2M | $74K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7968 | −0.177% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.7980 | −0.159% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.7994 | −0.138% | $94K | $317K | 20x | as long as short |
| Phoenix COPPERshort | +0.0035% | 1h | 6.7967 | −0.178% | $45K | $30K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.7964 | −0.182% | — | $82K | 25x | as long as short |
| Lighter XCUlong | +0.0048% | 1h | 6.8088 | long leg | $476K | $39K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7991 | −0.142% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7970 | −0.173% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7986 | −0.150% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7983 | −0.154% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8000 | −0.129% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8030 | −0.085% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7981 | −0.157% | $311 | — | 10x | as long as short |
| Extended XCU-USD | +0.0416% | 1h | 6.7972 | −0.171% | $230K | $2.9M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
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