Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.098%

Price spread now: Binance against Orderly−0.088%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Binance

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—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.088% cheaper against Orderly than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_COPPER_USDC_mythos	6.7920	0.0100	pay 0.0100% / 8h	2h 25m	$3K	—	10x
Short	Binance COPPERUSDT	6.7860	0	get 0.0000% / 4h	2h 25m	$8.9M	$34.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Orderly. 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 OrderlybpFee BinancebpOrdersPrice spread, now −0.088%Rate

Funding earned: −$21
Price spread: −0.088% → 0.000%: −$8.83
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Net: −$45.83
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Binance: live order book, 1 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 Orderly no order-book sample	—	—	—	—	—
Sell Binance live order book, 1 min ago	0.74 bp	9.1 bp −$9	19.5 bp −$195	97.5 bp −$9,746	doesn't fit

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 27 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
SoDEX COPPER-USD	−0.0138%	1h	6.7822	−0.144%	$898	$3K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0100%	1h	6.7825	−0.140%	$10.3M	$5.9M	20x	as long as short
BloFin COPPER-USDT	−0.0032%	4h	6.7870	−0.074%	$87K	$148K	100x	as long as short
edgeX COPPERUSDC	−0.0019%	4h	6.7873	−0.070%	$93K	$316K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7891	−0.043%	$32K	$52K	50x	as long as short
Binance COPPERUSDTshort	0.0000%	4h	6.7860	−0.088%	$8.9M	$34.9M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.7823	−0.143%	$469K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7770	−0.221%	$1.3M	$522K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7860	−0.088%	$25.6M	$4.1M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7852	−0.100%	$752K	$1.6M	—	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.7890	−0.044%	$91K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7850	−0.103%	—	$7.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7900	−0.029%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7860	−0.088%	$4.2M	$82K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.7965	+0.066%	$476K	$46K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7893	−0.040%	$234K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7905	−0.022%	—	$82K	25x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7772	−0.218%	$64K	$26K	15x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7873	−0.069%	$1K	$3K	5x	as long as short
QFEX COPPER-USD	+0.0053%	1h	6.7870	−0.074%	$1.5M	$138K	20x	as long as short
Bitget COPPERUSDT	+0.0056%	4h	6.7840	−0.118%	$1.6M	$1.1M	100x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7894	−0.038%	$23K	$16K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7790	−0.191%	$259K	$26K	50x	as long as short
Orderly PERP_COPPER_USDC_mythoslong	+0.0100%	8h	6.7920	long leg	$3K	—	10x
Aevo COPPER-PERP	+0.0104%	1h	6.7858	−0.092%	$310	—	10x	as long as short
Phoenix COPPER	+0.0329%	1h	6.7911	−0.013%	$45K	$30K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0952%	1h	6.7850	−0.103%	$26K	$177K	20x	as long as short