Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.028%

Price spread now: Aevo against Phemex−0.023%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aevo

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

Funding pays, the price is against you. Aevo is 0.023% cheaper against Phemex than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 18 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex COPPERUSDT	6.8080	0	get 0.0000% / 4h	1h 31m	$4.2M	$82K	100x
Short	Aevo COPPER-PERP	6.8064	0.0104	get 0.0013% / 1h	31m 39s	$311	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.023%Rate

Funding earned: $21.84
Price spread: −0.023% → 0.000%: −$2.33
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$8.49
Costs to cover: 0.280%
Break-even: 9.7 days

Slippage unknown: Phemex: live order book, 2 min ago; Aevo: 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 Phemex live order book, 2 min ago	0.73 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
tradeXYZ xyz:COPPER	−0.0006%	1h	6.8021	−0.087%	$10.6M	$5.0M	20x	as long as short
BloFin COPPER-USDT	−0.0005%	4h	6.8110	+0.044%	$88K	$138K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8080	0.000%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8085	+0.008%	$9.0M	$33.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8032	−0.071%	$493K	$981K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7950	−0.191%	$1.3M	$523K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8070	−0.015%	$26.2M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8070	−0.015%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8073	−0.010%	$734K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8090	+0.015%	$94K	$2.3M	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	6.8080	0.000%	—	$6.4M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8130	+0.073%	$61K	$24K	75x	as long as short
Phemex COPPERUSDTlong	0.0000%	4h	6.8080	long leg	$4.2M	$82K	100x
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8036	−0.065%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0003%	1h	6.8060	−0.029%	$1.5M	$130K	20x	as long as short
edgeX COPPERUSDC	+0.0014%	4h	6.8060	−0.030%	$94K	$319K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8033	−0.069%	$275K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8044	−0.053%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8060	−0.029%	$45K	$22K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8061	−0.028%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8028	−0.076%	$4K	$5K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8044	−0.053%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0080%	1h	6.8167	+0.128%	$476K	$42K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8049	−0.045%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8080	0.000%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8130	+0.073%	$3K	—	10x	as long as short
Aevo COPPER-PERPshort	+0.0104%	1h	6.8064	−0.023%	$311	—	10x
Kraken Futures PF_XCUUSD	+0.0108%	1h	6.8055	−0.037%	$34K	$176K	20x	as long as short