Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h +0.004%

Price spread now: Orderly against Extended+0.106%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Orderly is 0.106% dearer against Extended than usual: you sell high and buy low (spread +0.106% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XCU-USD	6.8098	0.0336	pay 0.0042% / 1h	9m 03s	$229K	$2.9M	20x
Short	Orderly PERP_COPPER_USDC_mythos	6.8170	0.0100	get 0.0100% / 8h	7h 09m	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.106%Rate

Funding earned: −$49.56
Price spread: +0.106% → 0.000%: $10.64
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$49.92
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 5 min ago; Orderly: 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 Extended live order book, 5 min ago	3.38 bp	10.8 bp −$11	75.6 bp −$756	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0447%	1h	6.8116	+0.028%	$32K	$179K	20x	as long as short
BloFin COPPER-USDT	−0.0050%	4h	6.8080	−0.026%	$87K	$149K	100x	as long as short
tradeXYZ xyz:COPPER	−0.0031%	1h	6.8070	−0.040%	$10.4M	$5.0M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8115	+0.026%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8130	+0.048%	$9.1M	$33.1M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8101	+0.005%	$471K	$978K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7990	−0.158%	$1.3M	$492K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8120	+0.033%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8100	+0.004%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8084	−0.020%	$742K	$1.5M	—	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	6.8100	+0.003%	$97K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8120	+0.033%	—	$7.1M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8130	+0.048%	$60K	$25K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7970	−0.187%	$4.2M	$76K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8103	+0.008%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0004%	1h	6.8100	+0.004%	$1.5M	$131K	20x	as long as short
edgeX COPPERUSDC	+0.0010%	4h	6.8088	−0.014%	$94K	$317K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8223	+0.184%	$477K	$45K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8088	−0.014%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8123	+0.037%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8100	+0.004%	$902	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8105	+0.011%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8104	+0.010%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8080	−0.026%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythosshort	+0.0100%	8h	6.8170	+0.106%	$3K	—	10x
Aevo COPPER-PERP	+0.0104%	1h	6.8108	+0.015%	$311	—	10x	as long as short
Phoenix COPPER	+0.0118%	1h	6.8050	−0.070%	$45K	$30K	20x	as long as short
Extended XCU-USDlong	+0.0336%	1h	6.8098	long leg	$229K	$2.9M	20x