Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.044%

Price spread now: gTrade (Gains Network) against edgeX−0.082%68s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$4694.693% of the position

Long on edgeX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.072%+$7 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.082%, 7d avg +0.024%

Together, before fees+0.303%+ Points / potential airdropedgeX: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and gTrade (Gains Network) is 0.107% cheaper against edgeX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.024%). Swap the legs. Mind the row above: over the last 1 day funding on this pair paid +0.072%, so the current rate has only just turned against you. The two prices were read 68 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	edgeX COPPERUSDC	6.8275	0.0020	pay 0.0010% / 4h	2h 34m	$95K	$318K	20x
Short	gTrade (Gains Network) HG/USD	6.8219	L +0.0002% / S −0.0001%	get 0.0000% / 1h	34m 02s	$178K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against edgeX. 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 edgeXbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.082%Rate

Funding earned: −$3.84
Price spread: −0.082% → +0.024%: −$10.66
Slippage, 4 orders: −$450.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$483.8
Costs to cover: 4.693%
Break-even: never at this rate

Slippage from edgeX: live order book, 14 min ago; gTrade (Gains Network): virtual book (oracle venue), 45 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 edgeX live order book, 14 min ago	7.32 bp	12.9 bp −$13	25.7 bp −$257	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 45 min ago	130.01 bp	213.6 bp −$214	1617.5 bp −$16.2K	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
Kraken Futures PF_XCUUSD	−0.0481%	1h	6.8180	−0.139%	$34K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0013%	1h	6.8194	−0.119%	$10.6M	$4.9M	20x	as long as short
QFEX COPPER-USD	−0.0001%	1h	6.8210	−0.096%	$1.5M	$130K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8227	−0.071%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8206	−0.101%	$9.2M	$33.2M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8189	−0.126%	$491K	$969K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8090	−0.271%	$1.3M	$525K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8200	−0.110%	$26.8M	$4.6M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8200	−0.110%	$2.9M	$1.9M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8254	−0.031%	$740K	$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	6.8290	+0.022%	$90K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8190	−0.125%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8280	+0.007%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8140	−0.198%	$4.2M	$80K	100x	as long as short
gTrade (Gains Network) HG/USDshort	L +0.0002% / S −0.0001%	1h	6.8219	−0.082%	$178K	—	250x
edgeX COPPERUSDClong	+0.0020%	4h	6.8275	long leg	$95K	$318K	20x
Phoenix COPPER	+0.0023%	1h	6.8292	+0.025%	$45K	$23K	20x	as long as short
BloFin COPPER-USDT	+0.0026%	4h	6.8230	−0.066%	$88K	$138K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.8304	+0.042%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8221	−0.080%	$276K	$2.5M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8223	−0.077%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8191	−0.124%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8185	−0.132%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8235	−0.059%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8204	−0.104%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8210	−0.096%	$278K	$36K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8250	−0.037%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8209	−0.098%	$312	—	10x	as long as short