Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Phemex against Pacifica−0.112%7-day average — · you buy dearer than you sell
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
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.112% cheaper against Pacifica than usual: you would sell low and buy high (−$11 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 | Pacifica COPPER | 6.8006 | 0.0100 | pay 0.0013% / 1h | 4m 30s | $23K | $14K | 10x |
| Short | Phemex COPPERUSDT | 6.7930 | 0 | get 0.0000% / 4h | 1h 04m | $4.2M | $81K | 100x |
Pacifica COPPER
Phemex COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Pacifica. 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: −0.112% → 0.000%
- −$11.19
- Slippage, 4 orders
- no order book: not counted
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$52.19
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Pacifica: no order-book sample; Phemex: live order book, 4 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 Pacifica no order-book sample | — | — | — | — | — |
| Sell Phemex live order book, 4 min ago | 1.47 bp | 62.0 bp −$62 | doesn't fit | doesn't fit | doesn't fit |
Pacifica: 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 | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:COPPER | −0.0031% | 1h | 6.7971 | −0.052% | $10.4M | $5.4M | 20x | as long as short |
| QFEX COPPER-USD | −0.0015% | 1h | 6.8010 | +0.006% | $1.5M | $138K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0002% | 4h | 6.7987 | −0.028% | $93K | $318K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8010 | +0.006% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8013 | +0.010% | $9.0M | $34.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7978 | −0.041% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7870 | −0.200% | $1.3M | $499K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8020 | +0.020% | $27.0M | $5.1M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8030 | +0.035% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7986 | −0.030% | $739K | $1.6M | — | as long as short |
tradeXYZ xyz:COPPER
QFEX COPPER-USD
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8000 | −0.009% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7990 | −0.024% | — | $7.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8020 | +0.020% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDTshort | 0.0000% | 4h | 6.7930 | −0.112% | $4.2M | $81K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7980 | −0.039% | $176K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0020% | 4h | 6.7940 | −0.097% | $87K | $149K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8091 | +0.125% | $476K | $45K | 20x | as long as short |
| Extended XCU-USD | +0.0040% | 1h | 6.7998 | −0.012% | $231K | $2.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7983 | −0.034% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8009 | +0.004% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7943 | −0.093% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7936 | −0.103% | $56K | $55K | 15x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0060% | 1h | 6.7977 | −0.043% | $27K | $171K | 20x | as long as short |
| Pacifica COPPERlong | +0.0100% | 1h | 6.8006 | long leg | $23K | $14K | 10x | |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8020 | +0.020% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8030 | +0.035% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7987 | −0.028% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0329% | 1h | 6.7965 | −0.060% | $45K | $30K | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Kraken Futures PF_XCUUSD
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER