Funding you earn now, next payment 07:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.023%
Price spread now: OKX against Phoenix−0.095%56s7-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
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.095% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COPPER | 6.8258 | 0.0106 | pay 0.0013% / 1h | 4m 30s | $45K | $22K | 20x |
| Short | OKX XCU-USDT-SWAP | 6.8193 | 0 | get 0.0000% / 8h | 4m 30s | $496K | $974K | 50x |
Phoenix COPPER
OKX XCU-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against Phoenix. 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
- −$22.18
- Price spread: −0.095% → 0.000%
- −$9.52
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$48.7
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell OKX live order book, 22 min ago | 0.66 bp | 11.0 bp −$11 | 29.1 bp −$291 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0017% | 4h | 6.8270 | +0.018% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8259 | +0.001% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8253 | −0.007% | $9.0M | $33.3M | 100x | as long as short |
| OKX XCU-USDT-SWAPshort | 0.0000% | 8h | 6.8193 | −0.095% | $496K | $974K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.8100 | −0.231% | $1.3M | $529K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8240 | −0.026% | $26.6M | $5.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | −0.026% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8246 | −0.018% | $765K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8276 | +0.026% | $89K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8260 | +0.003% | — | $6.0M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8360 | +0.149% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.158% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8218 | −0.059% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0012% | 4h | 6.8259 | +0.002% | $95K | $319K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8230 | −0.041% | $1.5M | $140K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8219 | −0.057% | $274K | $2.0M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8220 | −0.056% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8198 | −0.088% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8203 | −0.081% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8224 | −0.050% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8210 | −0.070% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8224 | −0.050% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8240 | −0.026% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8320 | +0.091% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8252 | −0.008% | $312 | — | 10x | as long as short |
| Phoenix COPPERlong | +0.0106% | 1h | 6.8258 | long leg | $45K | $22K | 20x | |
| Lighter XCU | +0.0152% | 1h | 6.8347 | +0.130% | $478K | $27K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0358% | 1h | 6.8212 | −0.067% | $34K | $178K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Lighter XCU
Kraken Futures PF_XCUUSD