Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.011%

Price spread now: Gate against tradeXYZ−0.236%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on tradeXYZ Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days+0.270%+$27 · spread now −0.236%, 7d avg −0.060%

Together, before fees+0.379%+ Points / potential airdroptradeXYZ: Active · farm board+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.176% cheaper against tradeXYZ than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.060%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.109%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:COPPER	6.8171	0.0050	pay 0.0006% / 1h	29m 06s	$10.5M	$4.8M	20x
Short	Gate XCU_USDT	6.8010	0	get 0.0000% / 8h	5h 29m	$1.3M	$491K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against tradeXYZ. 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 tradeXYZbpFee GatebpOrdersPrice spread, now −0.236%Rate

Funding earned: −$10.5
Price spread: −0.236% → −0.060%: −$17.64
Slippage, 4 orders: −$51.97
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$113.11
Costs to cover: 0.850%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Gate: live order book, 3 min ago.

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 tradeXYZ live order book, 9 min ago	0.73 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.20 bp	32.4 bp −$32	221.8 bp −$2,218	doesn't fit	doesn't fit

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	−0.0050%	4h	6.8200	+0.043%	$88K	$143K	100x	as long as short
QFEX COPPER-USD	0.0000%	1h	6.8170	−0.001%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8210	+0.057%	$32K	$21K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8210	+0.057%	$9.0M	$32.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8150	−0.031%	$470K	$944K	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.8010	−0.236%	$1.3M	$491K	100x
MEXC COPPER_USDT	0.0000%	4h	6.8190	+0.028%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8220	+0.072%	$1.7M	$994K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8181	+0.015%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8191	+0.030%	$87K	$2.0M	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	6.8190	+0.028%	—	$6.7M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8230	+0.087%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8040	−0.192%	$4.2M	$75K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8162	−0.014%	$178K	—	250x	as long as short
Phoenix COPPER	+0.0012%	1h	6.8180	+0.013%	$45K	$23K	20x	as long as short
edgeX COPPERUSDC	+0.0012%	4h	6.8169	−0.002%	$94K	$319K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8157	−0.021%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8169	−0.003%	$1K	$2K	5x	as long as short
tradeXYZ xyz:COPPERlong	+0.0050%	1h	6.8171	long leg	$10.5M	$4.8M	20x
SoDEX COPPER-USD	+0.0050%	1h	6.8169	−0.003%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8138	−0.048%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0072%	1h	6.8301	+0.191%	$478K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8159	−0.018%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8170	−0.001%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8240	+0.101%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8177	+0.008%	$312	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0195%	1h	6.8152	−0.028%	$32K	$176K	20x	as long as short
Extended XCU-USD	+0.0680%	1h	6.8171	0.000%	$223K	$2.8M	20x	as long as short