Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.001%

Price spread now: HTX against QFEX+0.103%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. HTX is 0.103% dearer against QFEX than usual: you sell high and buy low (spread +0.103% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 21 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COPPER-USD	6.8290	0.0017	pay 0.0002% / 1h	8m 09s	$1.5M	$137K	20x
Short	HTX COPPER-USDT	6.8360	0	get 0.0000% / 4h	8m 09s	$61K	$24K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against QFEX. 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 QFEXbpFee HTXbpOrdersPrice spread, now +0.103%Rate

Funding earned: −$3.48
Price spread: +0.103% → 0.000%: $10.25
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$15.23
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 3 min ago; HTX: 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 QFEX live order book, 3 min ago	1.46 bp	7.9 bp −$8	11.3 bp −$113	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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	6.8293	+0.005%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8289	−0.002%	$9.0M	$33.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8240	−0.073%	$496K	$975K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8140	−0.220%	$1.3M	$529K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8290	0.000%	$26.7M	$5.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8280	−0.015%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8286	−0.005%	$766K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8310	+0.029%	$94K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8290	0.000%	—	$6.1M	20x	as long as short
HTX COPPER-USDTshort	0.0000%	4h	6.8360	+0.103%	$61K	$24K	75x

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.8170	−0.176%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8251	−0.057%	$178K	—	250x	as long as short
BloFin COPPER-USDT	+0.0008%	4h	6.8300	+0.015%	$88K	$149K	100x	as long as short
edgeX COPPERUSDC	+0.0014%	4h	6.8298	+0.012%	$95K	$318K	20x	as long as short
QFEX COPPER-USDlong	+0.0017%	1h	6.8290	long leg	$1.5M	$137K	20x
Extended XCU-USD	+0.0032%	1h	6.8255	−0.051%	$274K	$2.0M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8261	−0.042%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8237	−0.078%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8232	−0.085%	$4K	$5K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8271	−0.028%	$2K	$1K	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8333	+0.063%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8270	−0.029%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8270	−0.029%	$278K	$36K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8350	+0.088%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8278	−0.018%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8258	−0.047%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0160%	1h	6.8386	+0.141%	$479K	$27K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0358%	1h	6.8256	−0.050%	$34K	$178K	20x	as long as short