Funding you earn now, next payment 06:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.023%
Price spread now: Gate against Phoenix−0.188%62s7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.188% cheaper against Phoenix than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 62 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 | Phoenix COPPER | 6.8118 | 0.0047 | pay 0.0006% / 1h | 48m 21s | $45K | $22K | 20x |
| Short | Gate XCU_USDT | 6.7990 | 0 | get 0.0000% / 8h | 1h 48m | $1.3M | $520K | 100x |
Phoenix COPPER
Gate XCU_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Phoenix. 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
- −$9.85
- Price spread: −0.188% → 0.000%
- −$18.79
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$50.64
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 4 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Gate live order book, 4 min ago | 1.47 bp | 63.4 bp −$63 | 239.6 bp −$2,396 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8111 | −0.010% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8114 | −0.006% | $9.2M | $33.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8068 | −0.073% | $497K | $973K | 50x | as long as short |
| Gate XCU_USDTshort | 0.0000% | 8h | 6.7990 | −0.188% | $1.3M | $520K | 100x | |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8110 | −0.012% | $26.3M | $4.8M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | −0.026% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8124 | +0.008% | $735K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8150 | +0.047% | $93K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8110 | −0.012% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.018% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
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 | 6.8110 | −0.012% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8072 | −0.068% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8110 | −0.012% | $1.5M | $130K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0008% | 4h | 6.8177 | +0.087% | $94K | $318K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0020% | 4h | 6.8130 | +0.018% | $88K | $138K | 100x | as long as short |
| tradeXYZ xyz:COPPER | +0.0020% | 1h | 6.8061 | −0.084% | $10.6M | $5.0M | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8082 | −0.052% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8084 | −0.050% | — | $82K | 25x | as long as short |
| Phoenix COPPERlong | +0.0047% | 1h | 6.8118 | long leg | $45K | $22K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8098 | −0.030% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8065 | −0.078% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8073 | −0.066% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0056% | 1h | 6.8210 | +0.135% | $477K | $41K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8100 | −0.026% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | −0.012% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8180 | +0.091% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8103 | −0.023% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0108% | 1h | 6.8090 | −0.041% | $34K | $176K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD