Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.061%

Price spread now: Gate against Variational Omni−0.140%7-day average −0.061% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 7 days+0.075%+$7 · spread now −0.140%, 7d avg −0.061%

Together, before fees+0.154%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.079% cheaper against Variational Omni than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni COPPER	6.7945	0	get 0.0000% / 4h	2h 49m	$752K	$1.6M	—
Short	Gate XCU_USDT	6.7850	0	get 0.0000% / 8h	2h 49m	$1.3M	$522K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee GatebpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → −0.061%: −$7.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$22.92
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Gate: live order book, 2 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 Variational Omni RFQ quote, 4 min ago	2.98 bp	doesn't fit	10.6 bp −$106	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.68 bp	63.3 bp −$63	343.6 bp −$3,436	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
edgeX COPPERUSDC	−0.0010%	4h	6.7954	+0.013%	$93K	$317K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7937	−0.012%	$32K	$52K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7940	−0.008%	$8.9M	$34.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7888	−0.084%	$469K	$1.2M	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.7850	−0.140%	$1.3M	$522K	100x
MEXC COPPER_USDT	0.0000%	4h	6.7940	−0.008%	$25.6M	$4.1M	100x	as long as short
Variational Omni COPPERlong	0.0000%	4h	6.7945	long leg	$752K	$1.6M	—
SunX COPPER-USDT	0.0000%	4h	6.7940	−0.008%	—	$7.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7980	+0.051%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.052%	$4.2M	$81K	100x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7889	−0.083%	$176K	—	25x	as long as short
Lighter XCU	+0.0032%	1h	6.8069	+0.182%	$477K	$46K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7922	−0.035%	$234K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7905	−0.059%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7918	−0.040%	$10.4M	$5.9M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7920	−0.037%	$899	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7878	−0.099%	$64K	$26K	15x	as long as short
Paradex XCU-USD-PERP	+0.0052%	8h	6.7944	−0.001%	$1K	$3K	5x	as long as short
QFEX COPPER-USD	+0.0053%	1h	6.7940	−0.008%	$1.5M	$138K	20x	as long as short
BloFin COPPER-USDT	+0.0059%	4h	6.7930	−0.023%	$87K	$147K	100x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7933	−0.018%	$23K	$16K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7930	−0.023%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8020	+0.110%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7946	+0.001%	$311	—	10x	as long as short
Bitget COPPERUSDT	+0.0126%	4h	6.7950	+0.007%	$1.7M	$1.1M	100x	as long as short
GRVT COPPER_USDT_Perp	+0.0242%	4h	6.7960	+0.022%	$94K	$2.2M	25x	as long as short
Phoenix COPPER	+0.0329%	1h	6.7951	+0.008%	$45K	$30K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0951%	1h	6.7935	−0.016%	$26K	$177K	20x	as long as short