Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h +0.027%

Price spread now: Gate against Bitget−0.103%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.103%, 7d avg −0.076%

Together, before fees+0.276%+$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.027% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.076%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.249%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget COPPERUSDT	6.7960	0.0150	pay 0.0075% / 4h	2h 56m	$1.7M	$1.1M	100x
Short	Gate XCU_USDT	6.7890	0	get 0.0000% / 8h	2h 56m	$1.3M	$522K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.103%Rate

Funding earned: −$31.5
Price spread: −0.103% → −0.076%: −$2.69
Slippage, 4 orders: −$95.34
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$156.52
Costs to cover: 1.223%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Gate: 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 Bitget live order book, 1 min ago	0.74 bp	10.3 bp −$10	25.5 bp −$255	82.8 bp −$8,278	doesn't fit
Sell Gate live order book, 1 min ago	2.21 bp	57.3 bp −$57	340.6 bp −$3,406	doesn't fit	doesn't fit

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
BloFin COPPER-USDT	−0.0047%	4h	6.7940	−0.029%	$87K	$147K	100x	as long as short
edgeX COPPERUSDC	−0.0019%	4h	6.7955	−0.007%	$93K	$319K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7942	−0.026%	$32K	$52K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7948	−0.018%	$8.9M	$34.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7901	−0.087%	$469K	$1.2M	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.7890	−0.103%	$1.3M	$522K	100x
MEXC COPPER_USDT	0.0000%	4h	6.7940	−0.029%	$25.6M	$4.1M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7956	−0.006%	$749K	$1.6M	—	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7940	−0.029%	—	$7.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7970	+0.015%	$60K	$28K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.7920	−0.059%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7889	−0.104%	$176K	—	25x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7920	−0.058%	$234K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7905	−0.081%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7926	−0.050%	$10.4M	$5.9M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7921	−0.057%	$899	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7888	−0.106%	$62K	$24K	15x	as long as short
Paradex XCU-USD-PERP	+0.0052%	8h	6.7941	−0.028%	$1K	$3K	5x	as long as short
QFEX COPPER-USD	+0.0053%	1h	6.7940	−0.029%	$1.5M	$138K	20x	as long as short
Lighter XCU	+0.0072%	1h	6.8057	+0.143%	$476K	$46K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7950	−0.015%	$23K	$16K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7930	−0.044%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8020	+0.088%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7946	−0.021%	$311	—	10x	as long as short
Bitget COPPERUSDTlong	+0.0150%	4h	6.7960	long leg	$1.7M	$1.1M	100x
Phoenix COPPER	+0.0212%	1h	6.7983	+0.034%	$45K	$30K	20x	as long as short
GRVT COPPER_USDT_Perp	+0.0294%	4h	6.7970	+0.015%	$89K	$2.2M	25x	as long as short
Kraken Futures PF_XCUUSD	+0.0951%	1h	6.7934	−0.038%	$26K	$177K	20x	as long as short