Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.068%
Price spread now: Orderly against Variational Omni+0.100%7-day average — · 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)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.100% dearer against Variational Omni than usual: you sell high and buy low: +$10 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 | Variational Omni COPPER | 6.8332 | 0 | get 0.0000% / 4h | 37m 17s | $765K | $1.4M | — |
| Short | Orderly PERP_COPPER_USDC_mythos | 6.8400 | 0.0100 | get 0.0100% / 8h | 37m 17s | $3K | — | 10x |
Variational Omni COPPER
Orderly PERP_COPPER_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Variational Omni. 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
- $21
- Price spread: +0.100% → 0.000%
- $10
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $25
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 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 Variational Omni RFQ quote, 2 min ago | 2.97 bp | doesn't fit | 12.2 bp −$122 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
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 | 6.8304 | −0.041% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8340 | +0.012% | $9.1M | $33.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8273 | −0.086% | $495K | $1.0M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8170 | −0.237% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8330 | −0.002% | $26.6M | $5.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8330 | −0.002% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPERlong | 0.0000% | 4h | 6.8332 | long leg | $765K | $1.4M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8346 | +0.021% | $94K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8340 | +0.012% | — | $6.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8370 | +0.056% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
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 | 6.8200 | −0.193% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8279 | −0.077% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8326 | −0.009% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8320 | −0.017% | $1.5M | $128K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8294 | −0.055% | — | $82K | 25x | as long as short |
| BloFin COPPER-USDT | +0.0049% | 4h | 6.8350 | +0.027% | $88K | $143K | 100x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8301 | −0.045% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8288 | −0.064% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8300 | −0.047% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8253 | −0.115% | $57K | $55K | 15x | as long as short |
| Extended XCU-USD | +0.0088% | 1h | 6.8288 | −0.064% | $272K | $2.0M | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8290 | −0.061% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8300 | −0.046% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythosshort | +0.0100% | 8h | 6.8400 | +0.100% | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8322 | −0.015% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0106% | 1h | 6.8335 | +0.005% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0176% | 1h | 6.8444 | +0.164% | $479K | $26K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0357% | 1h | 6.8293 | −0.057% | $34K | $177K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Vest HG-PERP
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Extended XCU-USD
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Phoenix COPPER
Lighter XCU
Kraken Futures PF_XCUUSD