Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.5% APRpaid last 24h −0.031%
Price spread now: Variational Omni against tradeXYZ+0.029%7-day average +0.005% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.057%−$6 on $10k
+Price spread, last 7 days−0.005%−$1 · spread now +0.029%, 7d avg +0.005%
=Together, before fees−0.062%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$6 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.025% dearer against tradeXYZ than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.005%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:COPPER | 6.8203 | −0.0004 | get 0.0001% / 1h | 9m 35s | $10.6M | $5.0M | 20x |
| Short | Variational Omni COPPER | 6.8223 | 0 | get 0.0000% / 4h | 2h 09m | $740K | $1.4M | — |
tradeXYZ xyz:COPPER
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- $0.86
- Price spread: +0.029% → +0.005%
- $2.49
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$14.65
- Costs to cover
- 0.180%
- Break-even
- 125.6 days
Slippage unknown: tradeXYZ: live order book, 9 min ago; Variational Omni: RFQ quote, 5 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 tradeXYZ live order book, 9 min ago | 0.22 bp | 10.0 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 5 min ago | 2.97 bp | doesn't fit | 8.8 bp −$88 | doesn't fit | doesn't fit |
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 | −0.0480% | 1h | 6.8245 | +0.062% | $35K | $176K | 20x | as long as short |
| tradeXYZ xyz:COPPERlong | −0.0004% | 1h | 6.8203 | long leg | $10.6M | $5.0M | 20x | |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8240 | +0.054% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8240 | +0.054% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8250 | +0.069% | $9.2M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8178 | −0.037% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.180% | $1.3M | $532K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8240 | +0.054% | $26.7M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | +0.054% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.8223 | +0.029% | $740K | $1.4M | — |
Kraken Futures PF_XCUUSD
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8221 | +0.026% | $95K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | +0.040% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.069% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8240 | +0.054% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8222 | +0.027% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.8219 | +0.024% | $95K | $318K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8242 | +0.057% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0025% | 4h | 6.8210 | +0.010% | $88K | $139K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8309 | +0.155% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8219 | +0.023% | $276K | $2.4M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8215 | +0.018% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8225 | +0.032% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8221 | +0.026% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8245 | +0.062% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8218 | +0.022% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8230 | +0.040% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.128% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8244 | +0.060% | $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
Phoenix COPPER
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
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