Funding you earn now, next payment 11:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.032%
Price spread now: Variational Omni against Ondo Perps+0.045%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.045% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.0 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps COPPER-USD.P | 6.8526 | 0.0050 | pay 0.0006% / 1h | 4m 52s | $59K | $54K | 15x |
| Short | Variational Omni COPPER | 6.8557 | 0 | get 0.0000% / 4h | 1h 04m | $774K | $540K | — |
Ondo Perps COPPER-USD.P
Variational Omni COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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: +0.045% → 0.000%
- $4.5
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$11.08
- Costs to cover
- 0.050%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 22 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 Variational Omni RFQ quote, 22 min ago | 2.97 bp | doesn't fit | 10.2 bp −$102 | 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 exchanges
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 | 6.8584 | +0.084% | $35K | $31K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8589 | +0.092% | $9.1M | $32.2M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8499 | −0.039% | $519K | $811K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8410 | −0.169% | $1.3M | $184K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8580 | +0.079% | $26.3M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8570 | +0.064% | $3.9M | $2.1M | 100x | as long as short |
| Variational Omni COPPERshort | 0.0000% | 4h | 6.8557 | +0.045% | $774K | $540K | — | |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8539 | +0.019% | $91K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8590 | +0.093% | — | $4.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8560 | +0.050% | $61K | $71K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8440 | −0.125% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8553 | +0.039% | $179K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0011% | 1h | 6.8560 | +0.050% | $1.5M | $151K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0013% | 4h | 6.8531 | +0.008% | $95K | $320K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0015% | 4h | 6.8560 | +0.050% | $90K | $155K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8656 | +0.190% | $481K | $25K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8548 | +0.033% | $267K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8557 | +0.045% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8564 | +0.055% | $10.9M | $3.9M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8573 | +0.069% | $908 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8561 | +0.052% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.Plong | +0.0050% | 1h | 6.8526 | long leg | $59K | $54K | 15x | |
| Phoenix COPPER | +0.0093% | 1h | 6.8543 | +0.025% | $45K | $18K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8570 | +0.065% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8570 | +0.064% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8630 | +0.152% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8562 | +0.052% | $313 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0336% | 1h | 6.8573 | +0.069% | $34K | $180K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Phoenix COPPER
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD