Funding you earn now, next payment 05:00 UTC−0.0023%/8h= −2.6% APRpaid last 24h −0.064%
Price spread now: MEXC against Phoenix−0.069%47s7-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 MEXC is 0.069% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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 | 6.8217 | 0.0023 | pay 0.0003% / 1h | 24m 39s | $45K | $23K | 20x |
| Short | MEXC COPPER_USDT | 6.8170 | 0 | get 0.0000% / 4h | 2h 24m | $26.1M | $4.7M | 100x |
Phoenix COPPER
MEXC COPPER_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$4.92
- Price spread: −0.069% → 0.000%
- −$6.89
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$18.81
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; MEXC: 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 MEXC live order book, 4 min ago | 0.73 bp | 0.7 bp −$1 | 3.3 bp −$33 | 11.1 bp −$1,108 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0481% | 1h | 6.8219 | +0.002% | $34K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0021% | 1h | 6.8162 | −0.081% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8230 | +0.019% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8182 | −0.052% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8171 | −0.067% | $9.2M | $33.3M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8140 | −0.113% | $490K | $965K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8030 | −0.274% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDTshort | 0.0000% | 4h | 6.8170 | −0.069% | $26.1M | $4.7M | 100x | |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.098% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8144 | −0.107% | $740K | $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
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 | 6.8240 | +0.034% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8220 | +0.004% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8160 | −0.084% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.098% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8210 | −0.010% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0005% | 4h | 6.8130 | −0.128% | $94K | $317K | 20x | as long as short |
| Phoenix COPPERlong | +0.0023% | 1h | 6.8217 | long leg | $45K | $23K | 20x | |
| Lighter XCU | +0.0032% | 1h | 6.8268 | +0.075% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8199 | −0.027% | $276K | $2.4M | 20x | as long as short |
| BloFin COPPER-USDT | +0.0044% | 4h | 6.8230 | +0.019% | $88K | $138K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8207 | −0.015% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8151 | −0.097% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8182 | −0.051% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8244 | +0.040% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8180 | −0.055% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8190 | −0.040% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8270 | +0.078% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8206 | −0.016% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP