Phemex's COPPER-USDT Contract Offers High Leverage for Copper Futures

COPPER-USDT is a perpetual futures contract on Phemex that tracks the price of COMEX copper, quoted in US dollars per pound.

The contract has no expiry or delivery month and can be margined at up to 100x leverage with USDT collateral.

Phemex lists COPPER-USDT under Metals alongside gold and silver, but its maximum leverage is higher than that of Nvidia, which tops out at 10x on the same platform.

The contract follows the .COPPERUSDT index rather than any single exchange print, with a small but real gap between that index and the cash market.