Funding you earn now, next payment 21:00 UTC−0.0345%/8h= −37.8% APRnext payment −$0.43 per $10,000 · paid last 24h −0.028%
Price spread now: QFEX against Phoenix+0.012%52s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$10 a day on $10k at the current rate. The two prices were read 52 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 | 6.7942 | 0.0329 | pay 0.0041% / 1h | 45m 44s | $45K | $30K | 20x |
| Short | QFEX COPPER-USD | 6.7950 | −0.0015 | pay 0.0002% / 1h | 45m 44s | $1.5M | $135K | 20x |
Phoenix COPPER
QFEX COPPER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$72.42
- Price spread: +0.012% → 0.000%
- $1.18
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$88.24
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 1 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 QFEX live order book, 1 min ago | 2.21 bp | 8.7 bp −$9 | 14.1 bp −$141 | 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 | −0.0043% | 4h | 6.7940 | −0.003% | $87K | $149K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0017% | 1h | 6.7932 | −0.015% | $10.4M | $5.8M | 20x | as long as short |
| QFEX COPPER-USDshort | −0.0015% | 1h | 6.7950 | +0.012% | $1.5M | $135K | 20x | |
| edgeX COPPERUSDC | −0.0002% | 4h | 6.7945 | +0.005% | $93K | $317K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7960 | +0.026% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.7980 | +0.056% | $8.9M | $34.6M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7886 | −0.082% | $466K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7810 | −0.194% | $1.3M | $499K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7970 | +0.041% | $27.0M | $5.1M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7960 | +0.026% | $1.7M | $1.0M | 100x | as long as short |
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.7939 | −0.004% | $735K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.7950 | +0.011% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7970 | +0.041% | — | $7.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.7990 | +0.071% | $60K | $28K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7940 | −0.003% | $4.2M | $81K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7938 | −0.007% | $176K | — | 10x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8031 | +0.131% | $476K | $45K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.7925 | −0.025% | $229K | $2.9M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7928 | −0.021% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7972 | +0.044% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7928 | −0.021% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7927 | −0.022% | $56K | $32K | 15x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0060% | 1h | 6.7961 | +0.028% | $26K | $176K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7962 | +0.029% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.7950 | +0.012% | $258K | $26K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8000 | +0.085% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7966 | +0.035% | $311 | — | 10x | as long as short |
| Phoenix COPPERlong | +0.0329% | 1h | 6.7942 | long leg | $45K | $30K | 20x |
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Kraken Futures PF_XCUUSD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP