Spread before costs (cost unknown: a leg has no order-book sample)+0.004%
7d average—if it closes, per $10,000$0funding while held, a day+$38.82
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COPPER | 6.7983 | 0.0153 | pay 0.0019% / 1h | 25m 59s | $43K | $28K | 20x |
| Short | Kraken Futures PF_XCUUSD | 6.7986 | 0.1447 | get 0.0181% / 1h | 25m 59s | $26K | $206K | 20x |
Phoenix COPPER
Kraken Futures PF_XCUUSDPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $0.39
- Funding while held
- $38.82
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $22.21
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; Kraken Futures: live order book, 28 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1294%
- Per $10,000 a day
- +$38.82
- Average in range /8h
- —
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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 28 min ago | 11.62 bp | 38.5 bp −$38 | doesn't fit | doesn't fit | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Gate6.7870cheapestOndo Perps6.7923+0.078%OKX6.7927+0.084%Vest6.7931+0.090%tradeXYZ6.7936+0.097%gTrade (Gains Network)6.7937+0.098%SoDEX6.7937+0.099%Extended6.7941+0.104%Variational Omni6.7949+0.116%QFEX6.7950+0.118%Paradex6.7953+0.122%MEXC6.7960+0.133%Bitget6.7960+0.133%SunX6.7960+0.133%BloFin6.7960+0.133%Aevo6.7960+0.133%Pacifica6.7969+0.146%Binance6.7970+0.147%edgeX6.7977+0.158%
Gate
Ondo Perps
OKX
Vest
tradeXYZ
gTrade (Gains Network)
SoDEX
Extended
Variational Omni
QFEX
Paradex
MEXC
Bitget
SunX
BloFin
Aevo
Pacifica
BinancePhoenix6.7983+0.166%
Kraken Futures6.7986+0.170%
Aster6.7988+0.173%HTX6.7990+0.177%Orderly6.8020+0.221%Lighter6.8063+0.284%KuCoin6.8110+0.354%Phemex6.8150+0.413%
Aster
HTX
Orderly
Lighter
KuCoin
PhemexCOPPER on 27 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate XCU_USDT | −0.166% | 0.0000% | 8h | $1.3M | $508K | 100x | as long as short |
| Ondo Perps COPPER-USD.P | −0.088% | +0.0050% | 1h | $62K | $13K | 15x | as long as short |
| OKX XCU-USDT-SWAP | −0.082% | 0.0000% | 8h | $534K | $992K | 50x | as long as short |
| Vest HG-PERP | −0.076% | +0.0046% | 1h | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | −0.069% | +0.0050% | 1h | $10.5M | $5.5M | 20x | as long as short |
| gTrade (Gains Network) HG/USD | −0.068% | L +0.0002% / S −0.0001% | 1h | $306K | — | 250x | as long as short |
| SoDEX COPPER-USD | −0.068% | +0.0050% | 1h | $900 | $3K | 20x | as long as short |
| Extended XCU-USD | −0.062% | +0.0048% | 1h | $337K | $2.3M | 20x | as long as short |
| Variational Omni COPPER | −0.050% | 0.0000% | 4h | $806K | $1.4M | — | as long as short |
| QFEX COPPER-USD | −0.049% | +0.0019% | 1h | $1.5M | $48K | 20x | as long as short |
Show all 27 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Paradex XCU-USD-PERP | −0.045% | +0.0052% | 8h | $1K | $3K | 5x | as long as short |
| MEXC COPPER_USDT | −0.034% | 0.0000% | 4h | $26.2M | $3.9M | 100x | as long as short |
| Bitget COPPERUSDT | −0.034% | 0.0000% | 4h | $1.7M | $972K | 100x | as long as short |
| SunX COPPER-USDT | −0.034% | 0.0000% | 4h | — | $7.2M | 20x | as long as short |
| BloFin COPPER-USDT | −0.034% | +0.0021% | 4h | $89K | $125K | 100x | as long as short |
| Aevo COPPER-PERP | −0.034% | +0.0104% | 1h | $311 | — | 10x | as long as short |
| Pacifica COPPER | −0.020% | +0.0100% | 1h | $25K | $9K | 10x | as long as short |
| Binance COPPERUSDT | −0.019% | 0.0000% | 4h | $9.2M | $31.9M | 100x | as long as short |
| edgeX COPPERUSDC | −0.009% | −0.0006% | 4h | $93K | $315K | 20x | as long as short |
| Phoenix COPPERlong | 0.000% | +0.0153% | 1h | $43K | $28K | 20x | |
| Kraken Futures PF_XCUUSDshort | +0.004% | +0.1447% | 1h | $26K | $206K | 20x | |
| Aster XCUUSDT | +0.007% | 0.0000% | 4h | $33K | $51K | 50x | as long as short |
| HTX COPPER-USDT | +0.010% | 0.0000% | 4h | $60K | $29K | 75x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.054% | +0.0100% | 8h | $3K | — | 10x | as long as short |
| Lighter XCU | +0.118% | +0.0104% | 1h | $476K | $38K | 20x | as long as short |
| KuCoin COPPERUSDTM | +0.187% | +0.0484% | 4h | $261K | $8K | 50x | as long as short |
| Phemex COPPERUSDT | +0.246% | 0.0000% | 4h | $4.2M | $67K | 100x | as long as short |