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 −0.091%

Price spread now: Variational Omni against Pacifica+0.028%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

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—+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.028% dearer against Pacifica than usual: you sell high and buy low (spread +0.028% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica COPPER	6.8017	0.0100	pay 0.0013% / 1h	58m 03s	$23K	$14K	10x
Short	Variational Omni COPPER	6.8036	0	get 0.0000% / 4h	58m 03s	$739K	$1.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now +0.028%Rate

Funding earned: −$21
Price spread: +0.028% → 0.000%: $2.78
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.22
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; Variational Omni: RFQ quote, 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 Pacifica no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	2.98 bp	doesn't fit	10.9 bp −$109	doesn't fit	doesn't fit

Pacifica: 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
BloFin COPPER-USDT	−0.0047%	4h	6.8020	+0.005%	$87K	$149K	100x	as long as short
edgeX COPPERUSDC	−0.0006%	4h	6.8030	+0.019%	$93K	$319K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8010	−0.010%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8027	+0.015%	$9.0M	$34.7M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7971	−0.067%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7880	−0.201%	$1.3M	$493K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8020	+0.005%	$27.0M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8030	+0.019%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPERshort	0.0000%	4h	6.8036	+0.028%	$739K	$1.6M	—
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8042	+0.037%	$91K	$2.2M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8020	+0.005%	—	$7.7M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8060	+0.063%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7930	−0.128%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7980	−0.053%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0013%	1h	6.8010	−0.010%	$1.5M	$138K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8094	+0.113%	$476K	$45K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7984	−0.048%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8016	−0.002%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7980	−0.054%	$10.4M	$5.4M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7987	−0.044%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8058	+0.060%	$57K	$55K	15x	as long as short
Pacifica COPPERlong	+0.0100%	1h	6.8017	long leg	$23K	$14K	10x
KuCoin COPPERUSDTM	+0.0100%	4h	6.8010	−0.010%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8090	+0.108%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8013	−0.006%	$311	—	10x	as long as short
Extended XCU-USD	+0.0128%	1h	6.7988	−0.043%	$231K	$2.9M	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0312%	1h	6.7973	−0.064%	$27K	$172K	20x	as long as short
Phoenix COPPER	+0.0329%	1h	6.8009	−0.012%	$45K	$30K	20x	as long as short