Funding you earn now, next payment 03:00 UTC+0.0114%/8h= +12.5% APRnext payment +$0.14 per $10,000 · paid last 24h +0.031%
Price spread now: Phoenix against tradeXYZ+0.048%101s7-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
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.048% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 101 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 | tradeXYZ xyz:COPPER | 6.8199 | 0.0050 | pay 0.0006% / 1h | 33m 45s | $10.5M | $4.8M | 20x |
| Short | Phoenix COPPER | 6.8232 | 0.0164 | get 0.0020% / 1h | 33m 45s | $45K | $23K | 20x |
tradeXYZ xyz:COPPER
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against tradeXYZ. 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
- $23.93
- Price spread: +0.048% → 0.000%
- $4.84
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $3.77
- Costs to cover
- 0.250%
- Break-even
- 5.9 days
Slippage unknown: tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago | 0.88 bp | 10.5 bp −$10 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8219 | +0.030% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8214 | +0.022% | $9.0M | $32.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8191 | −0.012% | $476K | $957K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.174% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | +0.001% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8210 | +0.016% | $1.7M | $1.1M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8203 | +0.006% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8252 | +0.078% | $91K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8200 | +0.001% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.045% | $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 | 6.8140 | −0.087% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8194 | −0.008% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0005% | 4h | 6.8232 | +0.049% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8200 | +0.001% | $1.5M | $129K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0013% | 4h | 6.8240 | +0.060% | $88K | $143K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8326 | +0.186% | $477K | $40K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8191 | −0.012% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8195 | −0.006% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0050% | 1h | 6.8199 | long leg | $10.5M | $4.8M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8186 | −0.019% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8146 | −0.078% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8216 | +0.025% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8210 | +0.016% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8260 | +0.089% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8198 | −0.001% | $312 | — | 10x | as long as short |
| Phoenix COPPERshort | +0.0164% | 1h | 6.8232 | +0.048% | $45K | $23K | 20x | |
| Kraken Futures PF_XCUUSD | +0.0291% | 1h | 6.8166 | −0.048% | $34K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0680% | 1h | 6.8203 | +0.006% | $263K | $2.8M | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
BloFin COPPER-USDT
Lighter XCU
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
Kraken Futures PF_XCUUSD
Extended XCU-USD