Funding you earn now, next payment 04:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.023%
Price spread now: Phoenix against Phemex+0.257%7-day average — · you sell dearer than you buy
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—needs both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Phoenix is 0.257% dearer against Phemex than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 3h 17m | $4.2M | $78K | 100x |
| Short | Phoenix COPPER | 6.8325 | 0.0047 | get 0.0006% / 1h | 17m 03s | $45K | $23K | 20x |
Phemex COPPERUSDT
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Phemex. 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
- $9.84
- Price spread: +0.257% → 0.000%
- $25.68
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $16.52
- Costs to cover
- 0.190%
- Break-even
- from the start
Slippage unknown: Phemex: live order book, 2 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 Phemex live order book, 2 min ago | 1.47 bp | 65.3 bp −$65 | doesn't fit | 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 | −0.0403% | 1h | 6.8283 | +0.194% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0056% | 1h | 6.8298 | +0.217% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8320 | +0.249% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8344 | +0.284% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8325 | +0.256% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | +0.194% | $489K | $972K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | +0.073% | $1.3M | $505K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8330 | +0.264% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8320 | +0.249% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8343 | +0.283% | $741K | $1.4M | — | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
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 | 6.8352 | +0.296% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | +0.249% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8380 | +0.337% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $78K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8326 | +0.258% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8339 | +0.277% | $95K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8430 | +0.411% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8334 | +0.270% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8324 | +0.255% | — | $82K | 25x | as long as short |
| Phoenix COPPERshort | +0.0047% | 1h | 6.8325 | +0.257% | $45K | $23K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8309 | +0.233% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8299 | +0.219% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | +0.207% | $57K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8340 | +0.279% | $88K | $135K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8326 | +0.258% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.191% | $291K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8380 | +0.337% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8319 | +0.248% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP