COPPER

Alert

Funding spread now, next payment 14:00 UTC−0.0103%/8h

next payment, per $10,000−$0.13paid, last 24h−0.021%paid, last 5 days−0.096%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix COPPER	6.7845	0.0153	pay 0.0019% / 1h	20m 59s	$43K	$28K	20x
Short	tradeXYZ xyz:COPPER	6.7806	0.0050	get 0.0006% / 1h	20m 59s	$10.5M	$5.5M	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee tradeXYZbpOrdersRate

Funding earned: −$21.62
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$46.62
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; tradeXYZ: live order book, 9 min ago. Net counts fees only.

Price risk

price view

Price gap now: −0.057%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 tradeXYZ live order book, 9 min ago	0.59 bp	11.2 bp −$11	doesn't fit	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 27 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
edgeX COPPERUSDC	−0.0017%	4h	$93K	$316K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	$33K	$51K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	$9.2M	$32.1M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	$533K	$990K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	$1.3M	$509K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	$26.1M	$3.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	$1.7M	$977K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	$806K	$1.4M	—	as long as short
SunX COPPER-USDT	0.0000%	4h	—	$7.3M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	$60K	$29K	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	$4.2M	$67K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	$305K	—	250x	as long as short
BloFin COPPER-USDT	+0.0011%	4h	$89K	$126K	100x	as long as short
QFEX COPPER-USD	+0.0019%	1h	$1.5M	$48K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	$334K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	—	$82K	25x	as long as short
tradeXYZ xyz:COPPERshort	+0.0050%	1h	$10.5M	$5.5M	20x
SoDEX COPPER-USD	+0.0050%	1h	$898	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	$62K	$13K	15x	as long as short
Paradex XCU-USD-PERP	+0.0052%	8h	$1K	$3K	5x	as long as short
Lighter XCU	+0.0096%	1h	$475K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	$25K	$9K	10x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	$310	—	10x	as long as short
Phoenix COPPERlong	+0.0153%	1h	$43K	$28K	20x
KuCoin COPPERUSDTM	+0.0542%	4h	$258K	$8K	50x	as long as short
Kraken Futures PF_XCUUSD	+0.1450%	1h	$26K	$206K	20x	as long as short