Copper (COPPER)
Perp: COPPER on HL · Hedge: CPER (ETF)
Hedge construction note: CPER (ETF) is used as a hedge proxy for Copper; treat it as a research reference, not an ordinary executable quote for the underlying market.
This is a transformed/normalized reference, not an ordinary executable quote.
Funding (ann.)
+9.8%
Basis
+0.13%
Open interest
$12,183,226
Status
delayed
Research note: funding below research threshold
Funding rate — annualized, 1738 settlement snapshots
Timezone: UTC · Units: % annualized · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Basis — (perp mark − hedge) / hedge
Timezone: UTC · Units: % · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Open interest — historical liquidity
Timezone: UTC · Units: USD notional · Source: dellserver funding-arb daemon (delayed export) · Last update: 2026-09-15T09:30:02+00:00
Persistence
0% of snapshots over the trailing 168h met the research condition: FR >= 100% APR, 7-day window.
Relevant paper trades
No paper trades have been logged for this instrument yet.
Known limitations
- The hedge leg only trades during its market's own hours; the perp trades 24/7 — see Methodology for how naked-leg windows are handled.
- Funding and basis figures are delayed, not real-time — see the status strip at the top of every page.
- CPER (ETF) is used as a hedge proxy for Copper; treat it as a research reference, not an ordinary executable quote for the underlying market.