Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.046%

Price spread now: Orderly against tradeXYZ+0.149%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Orderly

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—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.149% dearer against tradeXYZ than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:COPPER	6.7929	0.0050	pay 0.0006% / 1h	37m 49s	$10.4M	$5.2M	20x
Short	Orderly PERP_COPPER_USDC_mythos	6.8030	0.0100	get 0.0100% / 8h	37m 49s	$3K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.149%Rate

Funding earned: $10.5
Price spread: +0.149% → 0.000%: $14.87
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.37
Costs to cover: 0.240%
Break-even: 6.1 days

Slippage unknown: tradeXYZ: live order book, 11 min ago; Orderly: 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 tradeXYZ live order book, 11 min ago	0.07 bp	10.7 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0057%	4h	6.7980	+0.075%	$87K	$149K	100x	as long as short
edgeX COPPERUSDC	−0.0001%	4h	6.7970	+0.061%	$93K	$317K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7968	+0.058%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7967	+0.055%	$9.0M	$34.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7942	+0.019%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7840	−0.131%	$1.3M	$493K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7960	+0.046%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7980	+0.075%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7967	+0.055%	$739K	$1.6M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8000	+0.105%	$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	6.7960	+0.046%	—	$7.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8030	+0.149%	$60K	$27K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7900	−0.043%	$4.2M	$80K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7930	+0.001%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0013%	1h	6.7960	+0.046%	$1.5M	$131K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8062	+0.196%	$476K	$45K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7964	+0.052%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7927	−0.003%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7962	+0.049%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPERlong	+0.0050%	1h	6.7929	long leg	$10.4M	$5.2M	20x
SoDEX COPPER-USD	+0.0050%	1h	6.7935	+0.009%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7917	−0.018%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7953	+0.035%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7970	+0.060%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythosshort	+0.0100%	8h	6.8030	+0.149%	$3K	—	10x
Aevo COPPER-PERP	+0.0104%	1h	6.7954	+0.037%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0312%	1h	6.7909	−0.029%	$28K	$173K	20x	as long as short
Extended XCU-USD	+0.0336%	1h	6.7944	+0.022%	$230K	$2.9M	20x	as long as short