Funding you earn now, next payment 00:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.011%
Price spread now: Phoenix against Paradex−0.025%46s7-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
=Funding pays, the price is against you. Phoenix is 0.025% cheaper against Paradex than usual: you would sell low and buy high (spread −0.025% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 29 hours of funding at the current rate (+$2 a day). The two prices were read 46 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 | Paradex XCU-USD-PERP | 6.8046 | 0.0050 | pay 0.0050% / 8h | 7h 24m | $1K | $3K | 5x |
| Short | Phoenix COPPER | 6.8029 | 0.0118 | get 0.0015% / 1h | 24m 02s | $45K | $30K | 20x |
Paradex XCU-USD-PERP
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Paradex. 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
- $14.19
- Price spread: −0.025% → 0.000%
- −$2.45
- Slippage, 4 orders
- no order book: not counted
- Fee Paradex: 2 bp × 2 orders
- −$4
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $0.74
- Costs to cover
- 0.110%
- Break-even
- 6.6 days
Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Paradex and 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 | −0.0448% | 1h | 6.7931 | −0.169% | $28K | $174K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0005% | 4h | 6.8070 | +0.036% | $87K | $149K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0002% | 1h | 6.7975 | −0.104% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8035 | −0.016% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8031 | −0.021% | $9.0M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8051 | +0.008% | $470K | $980K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7910 | −0.199% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8030 | −0.023% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8050 | +0.006% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8044 | −0.003% | $741K | $1.5M | — | as long as short |
Kraken Futures PF_XCUUSD
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
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 | 6.8080 | +0.050% | $87K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8030 | −0.023% | — | $7.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8070 | +0.036% | $60K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.199% | $4.2M | $77K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8018 | −0.041% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8030 | −0.023% | $1.5M | $136K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8053 | +0.010% | $94K | $317K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8138 | +0.136% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8019 | −0.039% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERPlong | +0.0050% | 8h | 6.8046 | long leg | $1K | $3K | 5x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8019 | −0.039% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8004 | −0.061% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8042 | −0.006% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8040 | −0.008% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8100 | +0.080% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8031 | −0.021% | $311 | — | 10x | as long as short |
| Phoenix COPPERshort | +0.0118% | 1h | 6.8029 | −0.025% | $45K | $30K | 20x | |
| Extended XCU-USD | +0.0336% | 1h | 6.8009 | −0.054% | $231K | $3.0M | 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
Lighter XCU
Vest HG-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD