Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.006%
Price spread now: Phemex against Ondo Perps−0.215%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.053%−$5 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.215% cheaper against Ondo Perps than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps COPPER-USD.P | 6.8297 | 0.0050 | pay 0.0006% / 1h | 36m 53s | $57K | $55K | 15x |
| Short | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 36m 53s | $4.2M | $76K | 100x |
Ondo Perps COPPER-USD.P
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Ondo Perps. 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
- −$10.58
- Price spread: −0.215% → 0.000%
- −$21.52
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$49.11
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 2 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 2 min ago | 0.73 bp | 54.9 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
Ondo Perps: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8234 | −0.093% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8225 | −0.105% | $9.0M | $32.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8225 | −0.105% | $473K | $954K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8100 | −0.288% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8230 | −0.098% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | −0.083% | $1.7M | $986K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8272 | −0.036% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8300 | +0.004% | $91K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | −0.098% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8270 | −0.040% | $61K | $24K | 75x | as long as short |
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-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.8150 | −0.215% | $4.2M | $76K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8212 | −0.125% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0003% | 4h | 6.8271 | −0.039% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8210 | −0.127% | $1.5M | $129K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0032% | 4h | 6.8240 | −0.083% | $88K | $144K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8345 | +0.070% | $477K | $40K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8211 | −0.126% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8226 | −0.104% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8209 | −0.129% | $10.5M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8217 | −0.117% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.Plong | +0.0050% | 1h | 6.8297 | long leg | $57K | $55K | 15x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8246 | −0.075% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8210 | −0.127% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8300 | +0.004% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8223 | −0.108% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0164% | 1h | 6.8274 | −0.034% | $45K | $23K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0291% | 1h | 6.8210 | −0.127% | $34K | $176K | 20x | as long as short |
| Extended XCU-USD | +0.0728% | 1h | 6.8208 | −0.131% | $242K | $2.8M | 20x | as long as short |
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
BloFin COPPER-USDT
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD
Extended XCU-USD