Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.084%
Price spread now: Orderly against Binance+0.088%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.088% dearer against Binance than usual: you sell high and buy low: +$9 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 | Binance COPPERUSDT | 6.8120 | 0 | get 0.0000% / 4h | 3h 04m | $9.1M | $33.1M | 100x |
| Short | Orderly PERP_COPPER_USDC_mythos | 6.8180 | 0.0100 | get 0.0100% / 8h | 7h 04m | $3K | — | 10x |
Binance COPPERUSDT
Orderly PERP_COPPER_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly against Binance. 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: +0.088% → 0.000%
- $8.81
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- $13.81
- Costs to cover
- 0.160%
- Break-even
- 2.4 days
Slippage unknown: Binance: live order book, 7 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 Binance live order book, 7 min ago | 0.73 bp | 6.3 bp −$6 | 11.7 bp −$117 | 56.3 bp −$5,628 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSD | −0.0447% | 1h | 6.8125 | +0.007% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0034% | 1h | 6.8060 | −0.088% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | 0.000% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8120 | long leg | $9.1M | $33.1M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8086 | −0.050% | $471K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7980 | −0.206% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | 0.000% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | +0.044% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8122 | +0.004% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8132 | +0.018% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
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 | 6.8140 | +0.029% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8160 | +0.059% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7950 | −0.250% | $4.2M | $76K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8125 | +0.007% | $94K | $318K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8091 | −0.042% | $177K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0002% | 4h | 6.8080 | −0.059% | $87K | $149K | 100x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8110 | −0.015% | $1.5M | $130K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8218 | +0.144% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8088 | −0.047% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8115 | −0.007% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8100 | −0.029% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8080 | −0.059% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8097 | −0.034% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | −0.015% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythosshort | +0.0100% | 8h | 6.8180 | +0.088% | $3K | — | 10x | |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8118 | −0.003% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8111 | −0.013% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0360% | 1h | 6.8089 | −0.046% | $229K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
edgeX COPPERUSDC
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
QFEX COPPER-USD
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD