Funding you earn now, next payment 01:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.046%
Price spread now: Phoenix against Bitget+0.037%79s7-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 +$1 a day on $10k at the current rate, and Phoenix is 0.037% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 79 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 | Bitget COPPERUSDT | 6.8140 | 0 | get 0.0000% / 4h | 1h 58m | $1.7M | $1.0M | 100x |
| Short | Phoenix COPPER | 6.8165 | 0.0035 | get 0.0004% / 1h | 58m 09s | $45K | $22K | 20x |
Bitget COPPERUSDT
Phoenix COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bitget. 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
- $7.4
- Price spread: +0.037% → 0.000%
- $3.67
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$7.93
- Costs to cover
- 0.190%
- Break-even
- 14.5 days
Slippage unknown: Bitget: live order book, 4 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 Bitget live order book, 4 min ago | 0.73 bp | 11.5 bp −$11 | 20.1 bp −$201 | 80.1 bp −$8,014 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX COPPER-USD | 0.0000% | 1h | 6.8150 | +0.015% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8134 | −0.008% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8146 | +0.009% | $9.1M | $32.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8140 | 0.000% | $475K | $936K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8010 | −0.191% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8140 | 0.000% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDTlong | 0.0000% | 4h | 6.8140 | long leg | $1.7M | $1.0M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8203 | +0.093% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8200 | +0.087% | $96K | $2.0M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8180 | +0.059% | — | $6.8M | 20x | as long as short |
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
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 | 6.8180 | +0.059% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7990 | −0.220% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8097 | −0.063% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0017% | 4h | 6.8196 | +0.082% | $95K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8222 | +0.120% | $477K | $39K | 20x | as long as short |
| Phoenix COPPERshort | +0.0035% | 1h | 6.8165 | +0.037% | $45K | $22K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8125 | −0.022% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8158 | +0.026% | $1K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8103 | −0.054% | $10.4M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8108 | −0.047% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8145 | +0.007% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8147 | +0.010% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8120 | −0.029% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8190 | +0.073% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8126 | −0.021% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0195% | 1h | 6.8132 | −0.011% | $32K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0376% | 1h | 6.8111 | −0.042% | $224K | $2.8M | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD