Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.017%

Price spread now: OKX against Ondo Perps+0.031%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

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

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

The price spread pays, funding is against you. OKX is 0.031% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps COPPER-USD.P	6.7915	0.0050	pay 0.0006% / 1h	13m 16s	$56K	$55K	15x
Short	OKX XCU-USDT-SWAP	6.7936	0	get 0.0000% / 8h	1h 13m	$466K	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Ondo Perps. 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 Ondo PerpsbpFee OKXbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$10.58
Price spread: +0.031% → 0.000%: $3.09
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.49
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; OKX: live order book, 3 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.59 bp	7.7 bp −$8	29.6 bp −$296	doesn't fit	doesn't fit

Ondo Perps: 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
QFEX COPPER-USD	−0.0015%	1h	6.7950	+0.052%	$1.5M	$135K	20x	as long as short
edgeX COPPERUSDC	−0.0010%	4h	6.7967	+0.076%	$93K	$318K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0006%	1h	6.7924	+0.013%	$10.4M	$5.4M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7961	+0.068%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7970	+0.081%	$9.0M	$34.5M	100x	as long as short
OKX XCU-USDT-SWAPshort	0.0000%	8h	6.7936	+0.031%	$466K	$1.2M	50x
Gate XCU_USDT	0.0000%	8h	6.7820	−0.140%	$1.3M	$499K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7970	+0.081%	$26.9M	$5.1M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7970	+0.081%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7967	+0.076%	$739K	$1.6M	—	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	6.7979	+0.095%	$90K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7970	+0.081%	—	$7.7M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8010	+0.140%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.007%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7941	+0.038%	$176K	—	250x	as long as short
Lighter XCU	+0.0032%	1h	6.8064	+0.219%	$476K	$45K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7944	+0.043%	$231K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7931	+0.024%	—	$82K	25x	as long as short
BloFin COPPER-USDT	+0.0047%	4h	6.7940	+0.037%	$87K	$149K	100x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7962	+0.070%	$1K	$3K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7942	+0.040%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.Plong	+0.0050%	1h	6.7915	long leg	$56K	$55K	15x
Kraken Futures PF_XCUUSD	+0.0060%	1h	6.7954	+0.058%	$26K	$171K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7961	+0.067%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7970	+0.081%	$258K	$26K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8030	+0.169%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7960	+0.067%	$311	—	10x	as long as short
Phoenix COPPER	+0.0329%	1h	6.7930	+0.022%	$45K	$30K	20x	as long as short