Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.043%

Price spread now: OKX against edgeX−0.110%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$480.475% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.110%, 7d avg −0.014%

Together, before fees+0.333%+ Points / potential airdropedgeX: Active · farm board+$33 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 OKX is 0.096% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.014%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.234%, 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	edgeX COPPERUSDC	6.8275	0.0020	pay 0.0010% / 4h	2h 35m	$95K	$318K	20x
Short	OKX XCU-USDT-SWAP	6.8200	0	get 0.0000% / 8h	2h 35m	$491K	$969K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.110%Rate

Funding earned: −$4.15
Price spread: −0.110% → −0.014%: −$9.58
Slippage, 4 orders: −$28.52
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$61.25
Costs to cover: 0.475%
Break-even: never at this rate

Slippage from edgeX: live order book, 13 min ago; OKX: 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 edgeX live order book, 13 min ago	7.32 bp	12.9 bp −$13	25.7 bp −$257	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.66 bp	14.1 bp −$14	28.4 bp −$284	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	6.8225	−0.073%	$35K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0010%	1h	6.8205	−0.103%	$10.6M	$4.9M	20x	as long as short
QFEX COPPER-USD	−0.0001%	1h	6.8250	−0.037%	$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	6.8218	−0.084%	$9.2M	$33.1M	100x	as long as short
OKX XCU-USDT-SWAPshort	0.0000%	8h	6.8200	−0.110%	$491K	$969K	50x
Gate XCU_USDT	0.0000%	8h	6.8090	−0.271%	$1.3M	$525K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8240	−0.052%	$26.8M	$4.6M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8210	−0.096%	$2.8M	$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	6.8250	−0.037%	—	$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/USD	L +0.0002% / S −0.0001%	1h	6.8220	−0.082%	$178K	—	250x	as long as short
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	6.8320	+0.066%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8218	−0.085%	$276K	$2.5M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8245	−0.044%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8236	−0.058%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8195	−0.118%	$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	6.8254	−0.031%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8240	−0.052%	$278K	$36K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8260	−0.022%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8209	−0.096%	$312	—	10x	as long as short