Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Phemex against Pacifica+0.020%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 6 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread pays, funding is against you. Phemex is 0.020% dearer against Pacifica than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Pacifica COPPER | 6.8036 | 0.0100 | pay 0.0013% / 1h | 37m 46s | $23K | $14K | 10x |
| Short | Phemex COPPERUSDT | 6.8050 | 0 | get 0.0000% / 4h | 3h 37m | $4.2M | $83K | 100x |
Pacifica COPPER
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Pacifica. 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
- −$21
- Price spread: +0.020% → 0.000%
- $2
- Slippage, 4 orders
- no order book: not counted
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$39
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Pacifica: no order-book sample; Phemex: live order book, 6 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 Pacifica no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 6 min ago | 0.73 bp | doesn't fit | doesn't fit | doesn't fit | doesn't fit |
Pacifica: 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 | −0.0037% | 4h | 6.8090 | +0.079% | $88K | $148K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0022% | 1h | 6.7995 | −0.061% | $10.8M | $4.3M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8046 | +0.015% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8050 | +0.020% | $9.0M | $33.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7995 | −0.061% | $494K | $1.0M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7930 | −0.156% | $1.3M | $508K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8040 | +0.005% | $26.4M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8030 | −0.009% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8104 | +0.099% | $760K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8190 | +0.226% | $93K | $2.4M | 25x | as long as short |
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
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 | 6.8070 | +0.049% | — | $5.9M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | +0.123% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8050 | +0.020% | $4.2M | $83K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8024 | −0.019% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8142 | +0.155% | $94K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0018% | 1h | 6.8060 | +0.035% | $1.5M | $140K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8005 | −0.046% | $273K | $1.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8028 | −0.012% | — | $82K | 25x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8030 | −0.009% | $901 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8018 | −0.027% | $1K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8014 | −0.033% | $57K | $53K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8133 | +0.142% | $477K | $27K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0076% | 1h | 6.8029 | −0.010% | $34K | $178K | 20x | as long as short |
| Pacifica COPPERlong | +0.0100% | 1h | 6.8036 | long leg | $23K | $14K | 10x | |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8020 | −0.024% | $265K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8120 | +0.123% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8050 | +0.020% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0129% | 1h | 6.8148 | +0.164% | $45K | $22K | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Lighter XCU
Kraken Futures PF_XCUUSD
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER