Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.037%

Price spread now: GRVT against gTrade (Gains Network)−0.005%68s7-day average +0.033% · 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−$4564.564% of the position

Long on gTrade (Gains Network)Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.049%−$5 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now −0.005%, 7d avg +0.033%

Together, before fees−0.171%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.038% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.033%. 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	gTrade (Gains Network) HG/USD	6.8190	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	24m 08s	$178K	—	250x
Short	GRVT COPPER_USDT_Perp	6.8186	0	get 0.0000% / 4h	24m 08s	$96K	$2.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee GRVTbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$0.4
Price spread: −0.005% → +0.033%: −$3.82
Slippage, 4 orders: −$437.43
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$460.65
Costs to cover: 4.564%
Break-even: never at this rate

Slippage from gTrade (Gains Network): virtual book (oracle venue), 65 min ago; GRVT: 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 gTrade (Gains Network) virtual book (oracle venue), 65 min ago	130.01 bp	229.7 bp −$230	1613.4 bp −$16.1K	13153.2 bp −$1.32M	doesn't fit
Sell GRVT live order book, 4 min ago	0.73 bp	7.8 bp −$8	15.9 bp −$159	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
Aster XCUUSDT	0.0000%	4h	6.8213	+0.034%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8188	−0.002%	$9.0M	$32.8M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8156	−0.050%	$480K	$960K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8060	−0.191%	$1.3M	$495K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8180	−0.015%	$26.0M	$4.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8170	−0.029%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8142	−0.070%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perpshort	0.0000%	4h	6.8186	−0.005%	$96K	$2.1M	25x
SunX COPPER-USDT	0.0000%	4h	6.8170	−0.029%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8190	0.000%	$61K	$24K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.8140	−0.073%	$4.2M	$76K	100x	as long as short
gTrade (Gains Network) HG/USDlong	L +0.0002% / S −0.0001%	1h	6.8190	long leg	$178K	—	250x
edgeX COPPERUSDC	+0.0009%	4h	6.8174	−0.023%	$94K	$317K	20x	as long as short
QFEX COPPER-USD	+0.0009%	1h	6.8180	−0.015%	$1.5M	$129K	20x	as long as short
BloFin COPPER-USDT	+0.0021%	4h	6.8170	−0.029%	$88K	$143K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.8289	+0.145%	$477K	$40K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8187	−0.004%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0047%	1h	6.8156	−0.050%	$10.5M	$4.8M	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8173	−0.025%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8167	−0.034%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8102	−0.129%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8199	+0.014%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8180	−0.015%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8240	+0.073%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8168	−0.032%	$312	—	10x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8187	−0.004%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0291%	1h	6.8166	−0.035%	$34K	$176K	20x	as long as short
Extended XCU-USD	+0.0384%	1h	6.8196	+0.009%	$263K	$2.7M	20x	as long as short