Funding you earn now, next payment 00:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.072%
Price spread now: Phoenix against Variational Omni−0.022%99s7-day average — · 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)—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
Funding pays, the price is against you. Phoenix is 0.022% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$4 a day). The two prices were read 99 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 | Variational Omni COPPER | 6.8044 | 0 | get 0.0000% / 4h | 3h 25m | $741K | $1.5M | — |
| Short | Phoenix COPPER | 6.8029 | 0.0118 | get 0.0015% / 1h | 25m 57s | $45K | $30K | 20x |
Variational Omni COPPER
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $24.69
- Price spread: −0.022% → 0.000%
- −$2.17
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.52
- Costs to cover
- 0.070%
- Break-even
- 2.6 days
Slippage unknown: Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago | 2.98 bp | doesn't fit | 12.7 bp −$127 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0448% | 1h | 6.7933 | −0.163% | $28K | $174K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0013% | 4h | 6.8051 | +0.010% | $94K | $317K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0003% | 4h | 6.8070 | +0.039% | $87K | $149K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8057 | +0.020% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8054 | +0.016% | $9.1M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8051 | +0.011% | $470K | $980K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7920 | −0.182% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8050 | +0.009% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8070 | +0.039% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPERlong | 0.0000% | 4h | 6.8044 | long leg | $741K | $1.5M | — |
Kraken Futures PF_XCUUSD
edgeX COPPERUSDC
BloFin COPPER-USDT
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 | 6.8068 | +0.036% | $87K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8050 | +0.009% | — | $7.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8070 | +0.039% | $60K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.197% | $4.2M | $77K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8034 | −0.015% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8040 | −0.006% | $1.5M | $137K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0007% | 1h | 6.7996 | −0.070% | $10.4M | $5.0M | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8150 | +0.156% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8028 | −0.023% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8054 | +0.016% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8038 | −0.008% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8004 | −0.058% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8049 | +0.008% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8050 | +0.009% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8130 | +0.127% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8044 | 0.000% | $311 | — | 10x | as long as short |
| Phoenix COPPERshort | +0.0118% | 1h | 6.8029 | −0.022% | $45K | $30K | 20x | |
| Extended XCU-USD | +0.0352% | 1h | 6.8040 | −0.006% | $228K | $3.0M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
tradeXYZ xyz:COPPER
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
Extended XCU-USD