Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.056%
Price spread now: Variational Omni against Ondo Perps+0.063%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 airdropOndo Perps: Active · Variational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.063% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.063% now, against zero (this spread has no 7-day history yet)): +$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 4.2 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps COPPER-USD.P | 6.8138 | 0.0050 | pay 0.0006% / 1h | 27m 41s | $57K | $55K | 15x |
| Short | Variational Omni COPPER | 6.8181 | 0 | get 0.0000% / 4h | 1h 27m | $742K | $1.4M | — |
Ondo Perps COPPER-USD.P
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Ondo Perps. 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
- −$10.58
- Price spread: +0.063% → 0.000%
- $6.31
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$9.27
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 1 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 1 min ago | 2.98 bp | doesn't fit | 11.0 bp −$110 | doesn't fit | doesn't fit |
Ondo Perps: 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 | −0.0050% | 4h | 6.8200 | +0.091% | $88K | $143K | 100x | as long as short |
| QFEX COPPER-USD | 0.0000% | 1h | 6.8230 | +0.135% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8230 | +0.135% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8255 | +0.172% | $9.1M | $32.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8200 | +0.091% | $470K | $945K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8060 | −0.114% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8230 | +0.135% | $26.1M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8250 | +0.164% | $1.7M | $987K | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.8181 | +0.063% | $742K | $1.4M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8191 | +0.078% | $87K | $2.0M | 25x | as long as short |
BloFin COPPER-USDT
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.135% | — | $6.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.135% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8070 | −0.100% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8205 | +0.098% | $178K | — | 250x | as long as short |
| Phoenix COPPER | +0.0012% | 1h | 6.8180 | +0.062% | $45K | $23K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0012% | 4h | 6.8169 | +0.046% | $94K | $319K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8184 | +0.068% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8231 | +0.137% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8212 | +0.109% | $10.5M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8200 | +0.091% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.Plong | +0.0050% | 1h | 6.8138 | long leg | $57K | $55K | 15x | |
| Lighter XCU | +0.0072% | 1h | 6.8338 | +0.294% | $478K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8225 | +0.128% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8200 | +0.091% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.223% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8219 | +0.118% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0195% | 1h | 6.8224 | +0.126% | $32K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0680% | 1h | 6.8228 | +0.132% | $223K | $2.8M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
edgeX COPPERUSDC
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD