Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.050%
Price spread now: Phemex against Variational Omni−0.268%7-day average −0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.079%+$8 on $10k
+Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.268%, 7d avg −0.003%
=Together, before fees+0.278%+ Points / potential airdropVariational Omni: Active · farm board+$28 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: Phemex is 0.265% cheaper against Variational Omni than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.003%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni COPPER | 6.8122 | 0 | get 0.0000% / 4h | 3h 02m | $742K | $1.5M | — |
| Short | Phemex COPPERUSDT | 6.7940 | 0 | get 0.0000% / 4h | 3h 02m | $4.2M | $76K | 100x |
Variational Omni COPPER
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $0
- Price spread: −0.268% → −0.003%
- −$26.5
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$38.5
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phemex: live order book, 1 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 Variational Omni RFQ quote, 2 min ago | 2.97 bp | doesn't fit | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 0.74 bp | 61.8 bp −$62 | doesn't fit | 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 | −0.0447% | 1h | 6.8095 | −0.041% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0038% | 1h | 6.8060 | −0.092% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | −0.004% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8120 | −0.004% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8085 | −0.055% | $472K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7980 | −0.209% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | −0.004% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | +0.041% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPERlong | 0.0000% | 4h | 6.8122 | long leg | $742K | $1.5M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8146 | +0.035% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8110 | −0.018% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8150 | +0.041% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7940 | −0.268% | $4.2M | $76K | 100x | |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8125 | +0.004% | $94K | $318K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8097 | −0.037% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8100 | −0.033% | $1.5M | $130K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8220 | +0.143% | $477K | $45K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0043% | 4h | 6.8080 | −0.062% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8087 | −0.052% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8116 | −0.009% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8099 | −0.034% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8071 | −0.075% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8096 | −0.039% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8100 | −0.033% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8180 | +0.085% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8111 | −0.017% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8111 | −0.017% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0384% | 1h | 6.8101 | −0.032% | $234K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
edgeX COPPERUSDC
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Lighter XCU
BloFin COPPER-USDT
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
Phoenix COPPER
Extended XCU-USD