Spread before costs (cost unknown: a leg has no order-book sample)+0.080%
7d average—if it closes, per $10,000$8funding while held, a day−$1.77
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix COPPER | 6.7641 | 0.0059 | pay 0.0007% / 1h | 2m 05s | $43K | $28K | 20x |
| Short | Variational Omni COPPER | 6.7695 | 0 | get 0.0000% / 4h | 3h 02m | $747K | $1.5M | — |
Phoenix COPPER
Variational Omni COPPERPrice 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
- $7.96
- Funding while held
- −$1.77
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$0.82
- Spread needed to break even
- 0.070%
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0059%
- Per $10,000 a day
- −$1.77
- 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 Variational Omni RFQ quote, 3 min ago | 2.99 bp | doesn't fit | 8.7 bp −$87 | 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.Gate6.7550cheapestOKX6.7608+0.086%SoDEX6.7610+0.089%tradeXYZ6.7620+0.104%Vest6.7628+0.115%gTrade (Gains Network)6.7631+0.119%Ondo Perps6.7637+0.129%Pacifica6.7638+0.130%
Gate
OKX
SoDEX
tradeXYZ
Vest
gTrade (Gains Network)
Ondo Perps
PacificaPhoenix6.7641+0.135%
Extended6.7642+0.136%Paradex6.7644+0.139%MEXC6.7650+0.148%Kraken Futures6.7657+0.158%Binance6.7660+0.163%Bitget6.7660+0.163%SunX6.7660+0.163%Aevo6.7667+0.174%Aster6.7670+0.178%edgeX6.7675+0.185%QFEX6.7680+0.192%KuCoin6.7680+0.192%HTX6.7680+0.192%BloFin6.7680+0.192%
Extended
Paradex
MEXC
Kraken Futures
Binance
Bitget
SunX
Aevo
Aster
QFEX
KuCoin
HTX
BloFinVariational Omni6.7695+0.214%
Lighter6.7735+0.274%Phemex6.7740+0.281%Orderly6.7750+0.296%
Lighter
Phemex
OrderlyCOPPER on 27 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate XCU_USDT | −0.135% | 0.0000% | 8h | $1.3M | $517K | 100x | as long as short |
| OKX XCU-USDT-SWAP | −0.049% | 0.0000% | 8h | $538K | $1.1M | 50x | as long as short |
| SoDEX COPPER-USD | −0.046% | +0.0050% | 1h | $895 | $3K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.031% | +0.0050% | 1h | $10.4M | $5.6M | 20x | as long as short |
| Vest HG-PERP | −0.019% | +0.0046% | 1h | — | $82K | 25x | as long as short |
| gTrade (Gains Network) HG/USD | −0.015% | L +0.0002% / S −0.0001% | 1h | $176K | — | 250x | as long as short |
| Ondo Perps COPPER-USD.P | −0.006% | +0.0050% | 1h | $62K | $16K | 15x | as long as short |
| Pacifica COPPER | −0.004% | +0.0100% | 1h | $25K | $12K | 10x | as long as short |
| Phoenix COPPERlong | 0.000% | +0.0059% | 1h | $43K | $28K | 20x | |
| Extended XCU-USD | +0.001% | +0.0032% | 1h | $258K | $2.7M | 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 | +0.005% | +0.0052% | 8h | $1K | $3K | 5x | as long as short |
| MEXC COPPER_USDT | +0.013% | 0.0000% | 4h | $25.7M | $4.0M | 100x | as long as short |
| Kraken Futures PF_XCUUSD | +0.024% | +0.0189% | 1h | $26K | $73K | 20x | as long as short |
| Binance COPPERUSDT | +0.028% | 0.0000% | 4h | $9.0M | $34.0M | 100x | as long as short |
| Bitget COPPERUSDT | +0.028% | +0.0062% | 4h | $1.6M | $1.0M | 100x | as long as short |
| SunX COPPER-USDT | +0.028% | 0.0000% | 4h | — | $7.9M | 20x | as long as short |
| Aevo COPPER-PERP | +0.039% | +0.0104% | 1h | $309 | — | 10x | as long as short |
| Aster XCUUSDT | +0.043% | 0.0000% | 4h | $32K | $52K | 50x | as long as short |
| edgeX COPPERUSDC | +0.050% | −0.0013% | 4h | $93K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.058% | +0.0011% | 1h | $1.5M | $51K | 20x | as long as short |
| KuCoin COPPERUSDTM | +0.058% | +0.0100% | 4h | $257K | $25K | 50x | as long as short |
| HTX COPPER-USDT | +0.058% | 0.0000% | 4h | $60K | $29K | 75x | as long as short |
| BloFin COPPER-USDT | +0.058% | +0.0016% | 4h | $89K | $133K | 100x | as long as short |
| Variational Omni COPPERshort | +0.080% | 0.0000% | 4h | $747K | $1.5M | — | |
| Lighter XCU | +0.139% | +0.0168% | 1h | $474K | $43K | 20x | as long as short |
| Phemex COPPERUSDT | +0.146% | 0.0000% | 4h | $4.2M | $75K | 100x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.161% | +0.0100% | 8h | $3K | — | 10x | as long as short |