Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.080%
Price spread now: Variational Omni against Pacifica−0.062%7-day average — · you buy dearer than you sell
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 airdropPacifica: Active · Variational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Variational Omni is 0.062% cheaper against Pacifica than usual: you would sell low and buy high (−$6 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 | Pacifica COPPER | 6.8225 | 0.0100 | pay 0.0013% / 1h | 19m 28s | $23K | $14K | 10x |
| Short | Variational Omni COPPER | 6.8182 | 0 | get 0.0000% / 4h | 19m 28s | $742K | $1.4M | — |
Pacifica COPPER
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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: −0.062% → 0.000%
- −$6.25
- Slippage, 4 orders
- no order book: not counted
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$35.25
- Costs to cover
- 0.080%
- Break-even
- never at this rate
Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 5 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 Variational Omni RFQ quote, 5 min ago | 2.98 bp | doesn't fit | 7.4 bp −$74 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8243 | +0.026% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8210 | −0.022% | $9.0M | $32.8M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8198 | −0.040% | $480K | $962K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8090 | −0.198% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | −0.037% | $26.0M | $4.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8200 | −0.037% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.8182 | −0.062% | $742K | $1.4M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8210 | −0.022% | $96K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8210 | −0.022% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.007% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8160 | −0.095% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8221 | −0.006% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8210 | −0.022% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0017% | 4h | 6.8176 | −0.072% | $94K | $318K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0020% | 1h | 6.8177 | −0.070% | $10.5M | $4.8M | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8297 | +0.106% | $477K | $40K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0045% | 4h | 6.8200 | −0.037% | $88K | $143K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8215 | −0.015% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8201 | −0.036% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8186 | −0.057% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8214 | −0.016% | $57K | $55K | 15x | as long as short |
| Pacifica COPPERlong | +0.0100% | 1h | 6.8225 | long leg | $23K | $14K | 10x | |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8200 | −0.037% | $290K | $32K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8250 | +0.037% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8191 | −0.049% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0164% | 1h | 6.8210 | −0.022% | $45K | $23K | 20x | as long as short |
| Extended XCU-USD | +0.0248% | 1h | 6.8222 | −0.004% | $263K | $2.7M | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0291% | 1h | 6.8168 | −0.083% | $34K | $176K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
tradeXYZ xyz:COPPER
Lighter XCU
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD
Kraken Futures PF_XCUUSD