Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%
Price spread now: Phemex against Vest−0.051%45s7-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
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.051% cheaper against Vest than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 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 | Vest HG-PERP | 6.7975 | 0.0046 | pay 0.0006% / 1h | 12m 25s | — | $82K | 25x |
| Short | Phemex COPPERUSDT | 6.7940 | 0 | get 0.0000% / 4h | 12m 25s | $4.2M | $79K | 100x |
Vest HG-PERP
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Vest. 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
- −$9.59
- Price spread: −0.051% → 0.000%
- −$5.15
- Slippage, 4 orders
- no order book: not counted
- Fee Vest: 1 bp × 2 orders
- −$2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$28.74
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Vest: no order-book sample; Phemex: live order book, 6 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 Vest no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 6 min ago | 0.74 bp | 61.6 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
Vest: 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 27 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0005% | 4h | 6.8003 | +0.042% | $93K | $319K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8010 | +0.051% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8016 | +0.060% | $9.0M | $34.2M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7981 | +0.009% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.154% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8010 | +0.051% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8030 | +0.081% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7995 | +0.030% | $739K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8007 | +0.048% | $90K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8010 | +0.051% | — | $7.5M | 20x | as long as short |
edgeX COPPERUSDC
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-USDTShow all 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8030 | +0.081% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7940 | −0.051% | $4.2M | $79K | 100x | |
| QFEX COPPER-USD | +0.0013% | 1h | 6.7990 | +0.022% | $1.5M | $130K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8103 | +0.188% | $476K | $45K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.8007 | +0.047% | $45K | $30K | 20x | as long as short |
| Vest HG-PERPlong | +0.0046% | 1h | 6.7975 | long leg | — | $82K | 25x | |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8010 | +0.052% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.7980 | +0.007% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7978 | +0.004% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7953 | −0.032% | $56K | $55K | 15x | as long as short |
| BloFin COPPER-USDT | +0.0054% | 4h | 6.8030 | +0.081% | $87K | $149K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8007 | +0.047% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8000 | +0.037% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8040 | +0.096% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8005 | +0.045% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7983 | +0.011% | $28K | $173K | 20x | as long as short |
| Extended XCU-USD | +0.0504% | 1h | 6.7986 | +0.016% | $230K | $2.9M | 20x | as long as short |
HTX COPPER-USDT
QFEX COPPER-USD
Lighter XCU
Phoenix COPPER
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD