Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.013%

Price spread now: SoDEX against OKX−0.022%7-day average — · you buy dearer than you sell

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

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.022% cheaper against OKX than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 35 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XCU-USDT-SWAP	6.8203	0	get 0.0000% / 8h	4h 16m	$480K	$959K	50x
Short	SoDEX COPPER-USD	6.8188	0.0050	get 0.0006% / 1h	16m 46s	$903	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against OKX. 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 OKXbpFee SoDEXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $10.5
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$9.7
Costs to cover: 0.180%
Break-even: 13.5 days

Slippage unknown: OKX: live order book, 30 min ago; SoDEX: 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 OKX live order book, 30 min ago	0.59 bp	8.7 bp −$9	27.6 bp −$276	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Aster XCUUSDT	0.0000%	4h	6.8240	+0.055%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8206	+0.005%	$9.0M	$32.8M	100x	as long as short
OKX XCU-USDT-SWAPlong	0.0000%	8h	6.8203	long leg	$480K	$959K	50x
Gate XCU_USDT	0.0000%	8h	6.8020	−0.268%	$1.3M	$495K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8210	+0.010%	$26.0M	$4.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8200	−0.004%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8182	−0.030%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8218	+0.022%	$88K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8200	−0.004%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8240	+0.054%	$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	6.8150	−0.078%	$4.2M	$77K	100x	as long as short
edgeX COPPERUSDC	+0.0002%	4h	6.8193	−0.015%	$94K	$319K	20x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8214	+0.016%	$178K	—	250x	as long as short
QFEX COPPER-USD	+0.0009%	1h	6.8200	−0.004%	$1.5M	$129K	20x	as long as short
tradeXYZ xyz:COPPER	+0.0012%	1h	6.8176	−0.040%	$10.5M	$4.8M	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8300	+0.142%	$477K	$40K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8214	+0.016%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8198	−0.008%	$2K	$2K	5x	as long as short
SoDEX COPPER-USDshort	+0.0050%	1h	6.8188	−0.022%	$903	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8142	−0.089%	$57K	$55K	15x	as long as short
BloFin COPPER-USDT	+0.0051%	4h	6.8200	−0.004%	$88K	$143K	100x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8225	+0.032%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8200	−0.004%	$290K	$32K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8260	+0.084%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8189	−0.020%	$312	—	10x	as long as short
Extended XCU-USD	+0.0160%	1h	6.8220	+0.026%	$263K	$2.7M	20x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8210	+0.010%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0291%	1h	6.8167	−0.053%	$34K	$176K	20x	as long as short