Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.061%

Price spread now: Gate against KuCoin−0.191%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$223as in the Funding arb table

Net, price: spread back to 7d avg − costs−$209as in the Price arb table

costs, in and out, $10k−$2002.003% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.191%, 7d avg −0.106%

Together, before fees−0.265%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.084% cheaper against KuCoin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.106%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COPPERUSDTM	6.8230	0.0100	pay 0.0050% / 4h	41m 03s	$258K	$21K	50x
Short	Gate XCU_USDT	6.8100	0	get 0.0000% / 8h	4h 41m	$1.3M	$495K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.191%Rate

Funding earned: −$21
Price spread: −0.191% → −0.106%: −$8.43
Slippage, 4 orders: −$173.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$229.7
Costs to cover: 2.003%
Break-even: never at this rate

Slippage from KuCoin: live order book, 40 min ago; Gate: 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 KuCoin live order book, 40 min ago	10.26 bp	66.8 bp −$67	691.6 bp −$6,916	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.47 bp	17.9 bp −$18	209.4 bp −$2,094	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
BloFin COPPER-USDT	−0.0050%	4h	6.8290	+0.088%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8289	+0.086%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8281	+0.075%	$9.0M	$32.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8250	+0.029%	$473K	$954K	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.8100	−0.191%	$1.3M	$495K	100x
MEXC COPPER_USDT	0.0000%	4h	6.8270	+0.059%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8280	+0.073%	$1.7M	$987K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8272	+0.062%	$743K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8330	+0.147%	$91K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8280	+0.073%	—	$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	6.8310	+0.117%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.117%	$4.2M	$76K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8266	+0.053%	$178K	—	250x	as long as short
QFEX COPPER-USD	+0.0009%	1h	6.8260	+0.044%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0020%	4h	6.8330	+0.147%	$95K	$317K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8391	+0.236%	$477K	$40K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8264	+0.050%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8256	+0.039%	$2K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8255	+0.037%	$10.5M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8257	+0.040%	$904	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8336	+0.155%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8275	+0.066%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMlong	+0.0100%	4h	6.8230	long leg	$258K	$21K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8340	+0.161%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8276	+0.068%	$312	—	10x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8274	+0.064%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0291%	1h	6.8244	+0.021%	$35K	$176K	20x	as long as short
Extended XCU-USD	+0.0768%	1h	6.8261	+0.046%	$242K	$2.8M	20x	as long as short