Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.064%

Price spread now: Phoenix against Aster+0.048%115s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Phoenix is 0.048% dearer against Aster than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 115 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	Aster XCUUSDT	6.8063	0	get 0.0000% / 4h	1h 41m	$32K	$21K	50x
Short	Phoenix COPPER	6.8096	0.0012	get 0.0001% / 1h	41m 30s	$45K	$23K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee PhoenixbpOrdersPrice spread, now +0.048%Rate

Funding earned: $2.47
Price spread: +0.048% → 0.000%: $4.78
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$7.76
Costs to cover: 0.150%
Break-even: 29.0 days

Slippage unknown: Aster: no order-book sample; Phoenix: no order-book sample. 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 Aster no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Aster and 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
QFEX COPPER-USD	0.0000%	1h	6.8080	+0.024%	$1.5M	$129K	20x	as long as short
Aster XCUUSDTlong	0.0000%	4h	6.8063	long leg	$32K	$21K	50x
Binance COPPERUSDT	0.0000%	4h	6.8080	+0.024%	$9.0M	$32.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8052	−0.017%	$472K	$938K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7900	−0.240%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8060	−0.005%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8110	+0.068%	$1.7M	$999K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8083	+0.029%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8100	+0.054%	$95K	$2.0M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8060	−0.005%	—	$6.7M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8090	+0.039%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7990	−0.108%	$4.2M	$75K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8025	−0.057%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0004%	4h	6.8069	+0.008%	$94K	$317K	20x	as long as short
Phoenix COPPERshort	+0.0012%	1h	6.8096	+0.048%	$45K	$23K	20x
BloFin COPPER-USDT	+0.0041%	4h	6.8090	+0.039%	$88K	$143K	100x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8041	−0.033%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8053	−0.016%	$1K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8031	−0.048%	$10.4M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8030	−0.049%	$901	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8096	+0.048%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0072%	1h	6.8171	+0.158%	$477K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8041	−0.033%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8070	+0.010%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8120	+0.083%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8048	−0.022%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0196%	1h	6.8024	−0.058%	$32K	$176K	20x	as long as short
Extended XCU-USD	+0.0576%	1h	6.8048	−0.023%	$223K	$2.8M	20x	as long as short