Copper 

COPPER Price

What is the Copper (COPPER) commodity listing?

Copper (COPPER) is a price-exposure listing that tracks the copper price — the industrial base metal with ISO currency code XCU — through crypto perpetual futures, not through a token. Copper is the world's third most widely used metal, and the benchmark price is quoted in US dollars per pound on CME Group's COMEX HG futures. COPPER gives crypto traders continuous exposure to that same per-pound price without a COMEX account or physical delivery. DropsTab classifies the listing under TradFi.

How does a copper perpetual like COPPERUSDT work?

A copper perpetual is a USDT-margined futures contract with no expiry date that tracks the copper price per pound. Traders open long or short positions in USDT, and a funding-rate mechanism — periodic payments between long and short holders — keeps the contract price near the underlying index. No physical copper changes hands. On Binance Futures, one COPPERUSDT contract represents 1 pound of copper.

What is the funding rate on copper perpetuals?

The funding rate is the mechanism that keeps a copper perpetual's price near the index. Long holders pay short holders when the contract trades above the index, and short holders pay long holders when it trades below. Funding reprices periodically and compounds into a holding cost for leveraged positions. Venue caps exist on some markets — OKX clamps XCU-USDT-SWAP funding at ±1.50%.

Is a copper perpetual the same as COMEX copper futures?

No. COMEX HG is CME Group's 25,000-pound copper contract with physical delivery and trading limited to exchange sessions. A copper perpetual has no expiry, settles in USDT, and trades around the clock. CME also runs smaller versions of the benchmark — E-mini at 12,500 pounds and Micro Copper at 2,500 pounds — but those contracts still use dated expiries rather than perpetual funding.

How can I trade copper 24/7 on multiple crypto exchanges?

Copper exposure trades as USDT-margined perpetuals on multiple centralized venues including Binance Futures, OKX, MEXC, KuCoin Futures, Bitunix and BTSE, plus Hyperliquid as an on-chain perps DEX. Per DropsTab data, every listed COPPER market is a derivative — centralized exchange perps plus on-chain venues — with no spot token market anywhere. Binance's COPPERUSDT contract launched March 6, 2026, per its official announcement.

Does Copper (COPPER) have a token supply or smart contract?

No. Copper (COPPER) has no token, no smart contract and no blockchain — no maximum or total supply is recorded because no token was ever issued. Exposure exists purely through derivative positions on third-party venues. There is no allocation, no emission schedule and no insider holding. The "contract" in COPPERUSDT is a futures contract size — 1 pound of copper — not a token supply.

Is COPPER the same as the $COPPER memecoin?

No. A same-named micro-cap memecoin ($COPPER) dominates bare-name search results, and Copper (COPPER) as tracked here is unrelated to that token. The commodity listing has no issuer and no contract — the listing tracks the metal's per-pound price through perpetual futures. Searches for "Copper crypto" frequently surface the memecoin, so verify the venue and ticker before opening a position.

How risky are copper perpetuals?

Copper perpetuals carry derivative risks beyond copper's price direction. Leverage on OKX's XCU-USDT-SWAP reaches 20x (0.01–20x tiers), funding payments compound into a holding cost on leveraged positions, and commodity-perp order books run thinner than crypto majors on some venues — verify depth per venue before sizing positions.