Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.066%

Price spread now: Ondo Perps against BloFin−0.115%335s7-day average — · you buy dearer than you sell

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

Long on BloFin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.285%+$29 on $10k

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Ondo Perps is 0.115% cheaper against BloFin than usual: you would sell low and buy high (spread −0.115% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.8 days of funding at the current rate (+$3 a day). The two prices were read 335 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	BloFin COPPER-USDT	6.8050	−0.0051	get 0.0026% / 4h	2h 43m	$88K	$144K	100x
Short	Ondo Perps COPPER-USD.P	6.7972	0.0050	get 0.0006% / 1h	43m 11s	$56K	$55K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against BloFin. 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 BloFinbpFee Ondo PerpsbpOrdersPrice spread, now −0.115%Rate

Funding earned: $21.38
Price spread: −0.115% → 0.000%: −$11.46
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$7.08
Costs to cover: 0.170%
Break-even: 9.3 days

Slippage unknown: BloFin: live order book, 8 min ago; Ondo Perps: 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 BloFin live order book, 8 min ago	4.41 bp	10.9 bp −$11	13.8 bp −$138	42.1 bp −$4,209	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Kraken Futures PF_XCUUSD	−0.1015%	1h	6.7953	−0.143%	$32K	$175K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0138%	1h	6.7924	−0.185%	$10.4M	$4.8M	20x	as long as short
BloFin COPPER-USDTlong	−0.0051%	4h	6.8050	long leg	$88K	$144K	100x
Aster XCUUSDT	0.0000%	4h	6.7987	−0.093%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7986	−0.094%	$9.1M	$32.3M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7972	−0.115%	$472K	$943K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7880	−0.250%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7980	−0.103%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8000	−0.073%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8014	−0.052%	$741K	$1.4M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8036	−0.020%	$95K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7980	−0.103%	—	$6.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8010	−0.059%	$61K	$26K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.206%	$4.2M	$75K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7965	−0.126%	$176K	—	250x	as long as short
edgeX COPPERUSDC	+0.0002%	4h	6.7983	−0.099%	$94K	$319K	20x	as long as short
QFEX COPPER-USD	+0.0006%	1h	6.7990	−0.088%	$1.5M	$129K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7977	−0.107%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7966	−0.123%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8005	−0.066%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7963	−0.128%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.Pshort	+0.0050%	1h	6.7972	−0.115%	$56K	$55K	15x
Lighter XCU	+0.0064%	1h	6.8082	+0.047%	$476K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7992	−0.085%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7990	−0.088%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8060	+0.015%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7974	−0.111%	$311	—	10x	as long as short
Extended XCU-USD	+0.0424%	1h	6.7966	−0.124%	$230K	$2.9M	20x	as long as short