Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.038%

Price spread now: GRVT against SoDEX+0.125%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on GRVT

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 airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.125% dearer against SoDEX than usual: you sell high and buy low (spread +0.125% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 8.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX COPPER-USD	6.8205	0.0050	pay 0.0006% / 1h	20m 39s	$4K	$5K	20x
Short	GRVT COPPER_USDT_Perp	6.8290	0	get 0.0000% / 4h	20m 39s	$94K	$2.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against SoDEX. 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 SoDEXbpFee GRVTbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$10.5
Price spread: +0.125% → 0.000%: $12.46
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$15.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; GRVT: 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 SoDEX no order-book sample	—	—	—	—	—
Sell GRVT live order book, 3 min ago	0.73 bp	10.7 bp −$11	16.7 bp −$167	doesn't fit	doesn't fit

SoDEX: 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	−0.0049%	4h	6.8270	+0.095%	$88K	$148K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8246	+0.060%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8240	+0.051%	$9.0M	$33.7M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8178	−0.040%	$494K	$984K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8100	−0.154%	$1.3M	$528K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8240	+0.051%	$26.6M	$5.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8230	+0.037%	$2.9M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8243	+0.056%	$770K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perpshort	0.0000%	4h	6.8290	+0.125%	$94K	$2.4M	25x
SunX COPPER-USDT	0.0000%	4h	6.8250	+0.066%	—	$6.1M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8270	+0.095%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.081%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8219	+0.020%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0014%	4h	6.8265	+0.088%	$95K	$319K	20x	as long as short
QFEX COPPER-USD	+0.0017%	1h	6.8240	+0.051%	$1.5M	$134K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8224	+0.028%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8193	−0.018%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USDlong	+0.0050%	1h	6.8205	long leg	$4K	$5K	20x
Paradex XCU-USD-PERP	+0.0050%	8h	6.8216	+0.016%	$2K	$1K	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8294	+0.130%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8213	+0.012%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8230	+0.037%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8310	+0.154%	$3K	—	10x	as long as short
Extended XCU-USD	+0.0104%	1h	6.8212	+0.010%	$283K	$2.0M	20x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8239	+0.050%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8242	+0.054%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0176%	1h	6.8340	+0.198%	$478K	$27K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0358%	1h	6.8205	0.000%	$34K	$178K	20x	as long as short