Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0616%/8h= −67.5% APRpaid last 24h −0.088%

Price spread now: Binance against Extended+0.052%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.347%−$35 on $10k

Price spread, last 7 days−0.082%−$8 · spread now +0.052%, 7d avg −0.021%

Together, before fees−0.429%+ Points / potential airdropExtended: Active · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.073% dearer against Extended than usual: you sell high and buy low (spread +0.052% now, against its 7-day average of −0.021%): +$7 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.347% in total) that is about 35 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.347% in total (about -18.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XCU-USD	6.8104	0.0616	pay 0.0077% / 1h	38m 05s	$223K	$2.8M	20x
Short	Binance COPPERUSDT	6.8140	0	get 0.0000% / 4h	1h 38m	$9.0M	$32.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Extended. 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 ExtendedbpFee BinancebpOrdersPrice spread, now +0.052%Rate

Funding earned: −$129.36
Price spread: +0.052% → −0.021%: $7.27
Slippage, 4 orders: −$9.09
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$146.18
Costs to cover: 0.241%
Break-even: never at this rate

Slippage from Extended: live order book, 6 min ago; Binance: live order book, 4 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 Extended live order book, 6 min ago	0.07 bp	8.5 bp −$8	55.8 bp −$558	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.73 bp	6.8 bp −$7	11.0 bp −$110	86.1 bp −$8,608	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
QFEX COPPER-USD	0.0000%	1h	6.8120	+0.023%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8149	+0.065%	$32K	$21K	50x	as long as short
Binance COPPERUSDTshort	0.0000%	4h	6.8140	+0.052%	$9.0M	$32.4M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8101	−0.005%	$469K	$942K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7950	−0.227%	$1.3M	$485K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8130	+0.038%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8140	+0.052%	$1.7M	$999K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8072	−0.048%	$741K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8100	−0.007%	$95K	$2.0M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8140	+0.052%	—	$6.7M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8170	+0.096%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8010	−0.139%	$4.2M	$75K	100x	as long as short
BloFin COPPER-USDT	+0.0001%	4h	6.8070	−0.051%	$88K	$143K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8115	+0.015%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0008%	4h	6.8060	−0.065%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0012%	1h	6.8094	−0.015%	$45K	$23K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8108	+0.005%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8105	0.000%	$1K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8109	+0.007%	$10.4M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8113	+0.013%	$902	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8127	+0.033%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0064%	1h	6.8238	+0.196%	$477K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8105	+0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8140	+0.052%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8180	+0.111%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8127	+0.033%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0195%	1h	6.8147	+0.062%	$32K	$176K	20x	as long as short
Extended XCU-USDlong	+0.0616%	1h	6.8104	long leg	$223K	$2.8M	20x