Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.034%

Price spread now: SoDEX against Binance−0.051%7-day average — · you buy dearer than you sell

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

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.051% cheaper against Binance than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.4 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance COPPERUSDT	6.8482	0	get 0.0000% / 4h	1h 28m	$9.0M	$32.0M	100x
Short	SoDEX COPPER-USD	6.8447	0.0050	get 0.0006% / 1h	28m 04s	$906	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $10.5
Price spread: −0.051% → 0.000%: −$5.14
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.64
Costs to cover: 0.180%
Break-even: 15.4 days

Slippage unknown: Binance: live order book, 7 min ago; SoDEX: 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 Binance live order book, 7 min ago	0.73 bp	5.7 bp −$6	10.3 bp −$103	49.5 bp −$4,947	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 exchanges

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
BloFin COPPER-USDT	−0.0043%	4h	6.8490	+0.011%	$89K	$159K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8485	+0.003%	$35K	$31K	50x	as long as short
Binance COPPERUSDTlong	0.0000%	4h	6.8482	long leg	$9.0M	$32.0M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8388	−0.138%	$516K	$806K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8330	−0.222%	$1.3M	$181K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8480	−0.003%	$26.2M	$5.7M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8450	−0.047%	$3.9M	$2.1M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8429	−0.078%	$775K	$538K	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8450	−0.047%	$87K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8480	−0.003%	—	$4.7M	20x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8500	+0.026%	$61K	$71K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8420	−0.091%	$4.2M	$82K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8454	−0.040%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0009%	4h	6.8430	−0.076%	$95K	$321K	20x	as long as short
QFEX COPPER-USD	+0.0011%	1h	6.8450	−0.047%	$1.5M	$150K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8555	+0.106%	$480K	$25K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8461	−0.030%	$267K	$1.7M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8458	−0.035%	—	$36K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8442	−0.059%	$10.8M	$3.8M	20x	as long as short
SoDEX COPPER-USDshort	+0.0050%	1h	6.8447	−0.051%	$906	$6K	20x
Paradex XCU-USD-PERP	+0.0050%	8h	6.8459	−0.034%	$2K	$825	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8399	−0.122%	$59K	$54K	15x	as long as short
Phoenix COPPER	+0.0093%	1h	6.8455	−0.040%	$44K	$18K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8479	−0.005%	$24K	$13K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8480	−0.003%	$267K	$39K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8520	+0.055%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8466	−0.023%	$313	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0337%	1h	6.8433	−0.071%	$34K	$180K	20x	as long as short