Funding you earn now, next payment 06:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h +0.007%
Price spread now: Orderly against Phoenix+0.190%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 +$2 a day on $10k at the current rate, and Orderly is 0.190% dearer against Phoenix than usual: you sell high and buy low: +$19 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 | Phoenix COPPER | 6.8071 | 0.0047 | pay 0.0006% / 1h | 14m 38s | $45K | $22K | 20x |
| Short | Orderly PERP_COPPER_USDC_mythos | 6.8200 | 0.0100 | get 0.0100% / 8h | 1h 14m | $3K | — | 10x |
Phoenix COPPER
Orderly PERP_COPPER_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $11.15
- Price spread: +0.190% → 0.000%
- $18.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $17.1
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Orderly: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Phoenix and Orderly: 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 | 6.8141 | +0.103% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8150 | +0.116% | $9.0M | $34.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8093 | +0.032% | $487K | $991K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.163% | $1.3M | $523K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8150 | +0.116% | $26.2M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | +0.116% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8153 | +0.121% | $749K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8100 | +0.043% | $88K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8150 | +0.116% | — | $6.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8190 | +0.175% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
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 | 6.8150 | +0.116% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8107 | +0.054% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8140 | +0.101% | $1.5M | $128K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8108 | +0.055% | $94K | $319K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8116 | +0.067% | $275K | $2.3M | 20x | as long as short |
| BloFin COPPER-USDT | +0.0034% | 4h | 6.8160 | +0.131% | $88K | $143K | 100x | as long as short |
| tradeXYZ xyz:COPPER | +0.0038% | 1h | 6.8106 | +0.051% | $10.6M | $5.0M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8112 | +0.060% | — | $82K | 25x | as long as short |
| Phoenix COPPERlong | +0.0047% | 1h | 6.8071 | long leg | $45K | $22K | 20x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8131 | +0.088% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8107 | +0.053% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8055 | −0.024% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8119 | +0.070% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8130 | +0.087% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythosshort | +0.0100% | 8h | 6.8200 | +0.190% | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8136 | +0.096% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0108% | 1h | 6.8119 | +0.071% | $34K | $176K | 20x | as long as short |
| Lighter XCU | +0.0112% | 1h | 6.8253 | +0.267% | $477K | $42K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Extended XCU-USD
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Lighter XCU