Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: Bitget against Binance+0.026%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 2 days (all we have)+0.009%+$1 · spread now +0.026%, 7d avg +0.005%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.021% dearer against Binance than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance COPPERUSDT	6.8062	0	get 0.0000% / 4h	2h 05m	$9.1M	$32.2M	100x
Short	Bitget COPPERUSDT	6.8080	0	get 0.0000% / 4h	2h 05m	$1.7M	$1.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → +0.005%: $2.09
Slippage, 4 orders: −$12.36
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.27
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; Bitget: live order book, 1 min ago.

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 Binance live order book, 6 min ago	0.74 bp	5.7 bp −$6	9.8 bp −$98	50.3 bp −$5,033	doesn't fit
Sell Bitget live order book, 1 min ago	0.73 bp	12.7 bp −$13	31.4 bp −$314	102.3 bp −$10.2K	doesn't fit

COPPER on 27 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
Kraken Futures PF_XCUUSD	−0.1013%	1h	6.8044	−0.027%	$32K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0116%	1h	6.8024	−0.056%	$10.4M	$4.8M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8063	+0.002%	$32K	$35K	50x	as long as short
Binance COPPERUSDTlong	0.0000%	4h	6.8062	long leg	$9.1M	$32.2M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8059	−0.005%	$474K	$934K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7910	−0.223%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8050	−0.018%	$26.0M	$5.0M	100x	as long as short
Bitget COPPERUSDTshort	0.0000%	4h	6.8080	+0.026%	$1.7M	$1.0M	100x
Variational Omni COPPER	0.0000%	4h	6.8043	−0.028%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8100	+0.056%	$95K	$2.0M	25x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8050	−0.018%	—	$6.8M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8080	+0.026%	$61K	$25K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7900	−0.238%	$4.2M	$74K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8052	−0.016%	$177K	—	250x	as long as short
edgeX COPPERUSDC	+0.0003%	4h	6.8064	+0.003%	$94K	$318K	20x	as long as short
QFEX COPPER-USD	+0.0006%	1h	6.8060	−0.003%	$1.5M	$129K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8153	+0.134%	$477K	$39K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.8067	+0.007%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8057	−0.008%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8057	−0.007%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8039	−0.034%	$901	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8082	+0.029%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8061	−0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8060	−0.003%	$258K	$23K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8120	+0.085%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8046	−0.024%	$311	—	10x	as long as short
Extended XCU-USD	+0.0328%	1h	6.8059	−0.004%	$225K	$2.9M	20x	as long as short