Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.051%

Price spread now: SoDEX against Variational Omni−0.047%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on SoDEX

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 airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.047% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni COPPER	6.8063	0	get 0.0000% / 4h	1h 30m	$734K	$1.4M	—
Short	SoDEX COPPER-USD	6.8031	0.0050	get 0.0006% / 1h	30m 30s	$4K	$5K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Variational Omni. 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 Variational OmnibpFee SoDEXbpOrdersPrice spread, now −0.047%Rate

Funding earned: $10.5
Price spread: −0.047% → 0.000%: −$4.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$2.21
Costs to cover: 0.080%
Break-even: 8.5 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; SoDEX: 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 Variational Omni RFQ quote, 4 min ago	2.98 bp	doesn't fit	10.9 bp −$109	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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
tradeXYZ xyz:COPPER	−0.0007%	1h	6.8039	−0.035%	$10.6M	$5.0M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8104	+0.060%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8100	+0.054%	$9.0M	$33.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8032	−0.046%	$493K	$981K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7950	−0.166%	$1.3M	$523K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8100	+0.054%	$26.2M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8070	+0.010%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPERlong	0.0000%	4h	6.8063	long leg	$734K	$1.4M	—
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8110	+0.069%	$87K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8070	+0.010%	—	$6.4M	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	6.8130	+0.098%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8080	+0.025%	$4.2M	$82K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8055	−0.013%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0003%	1h	6.8080	+0.025%	$1.5M	$130K	20x	as long as short
edgeX COPPERUSDC	+0.0008%	4h	6.8089	+0.039%	$94K	$319K	20x	as long as short
BloFin COPPER-USDT	+0.0024%	4h	6.8080	+0.025%	$88K	$139K	100x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8061	−0.002%	$275K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8059	−0.006%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8060	−0.005%	$45K	$22K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8061	−0.003%	$1K	$2K	5x	as long as short
SoDEX COPPER-USDshort	+0.0050%	1h	6.8031	−0.047%	$4K	$5K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8022	−0.060%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0080%	1h	6.8189	+0.185%	$477K	$42K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8063	+0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8100	+0.054%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8150	+0.128%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8068	+0.008%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0108%	1h	6.8055	−0.012%	$34K	$176K	20x	as long as short