Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.072%
Price spread now: Variational Omni against Lighter−0.140%7-day average −0.188% · 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)+0.255%+$26 on $10k
+Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.140%, 7d avg −0.188%
=Together, before fees+0.377%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board+$38 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.047% dearer against Lighter than usual: you sell high and buy low (spread −0.140% now, against its 7-day average of −0.188%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.9 days. Mind the row above: over the last 3 days funding on this pair paid +0.255%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XCU | 6.8218 | 0.0032 | pay 0.0004% / 1h | 4m 21s | $477K | $45K | 20x |
| Short | Variational Omni COPPER | 6.8122 | 0 | get 0.0000% / 4h | 3h 04m | $742K | $1.5M | — |
Lighter XCU
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Lighter. 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
- −$6.72
- Price spread: −0.140% → −0.188%
- $4.75
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$1.97
- Costs to cover
- 0.000%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 61 min ago; Variational Omni: RFQ quote, 5 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 Lighter live order book, 61 min ago | 2.86 bp | 10.9 bp −$11 | 30.8 bp −$308 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 5 min ago | 2.97 bp | doesn't fit | 10.7 bp −$107 | 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 | 6.8125 | −0.136% | $32K | $179K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0034% | 1h | 6.8060 | −0.232% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8120 | −0.144% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8120 | −0.144% | $9.1M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8086 | −0.193% | $471K | $978K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7980 | −0.349% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | −0.144% | $27.0M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.100% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.8122 | −0.140% | $742K | $1.5M | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8132 | −0.126% | $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 | 6.8140 | −0.114% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8160 | −0.085% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7950 | −0.393% | $4.2M | $76K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0002% | 4h | 6.8125 | −0.136% | $94K | $318K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8091 | −0.185% | $177K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0002% | 4h | 6.8080 | −0.202% | $87K | $149K | 100x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8110 | −0.158% | $1.5M | $130K | 20x | as long as short |
| Lighter XCUlong | +0.0032% | 1h | 6.8218 | long leg | $477K | $45K | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8088 | −0.191% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8115 | −0.150% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8100 | −0.173% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8080 | −0.202% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8097 | −0.177% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | −0.158% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8180 | −0.056% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8118 | −0.147% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8111 | −0.157% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0360% | 1h | 6.8089 | −0.189% | $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
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