Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.075%

Price spread now: Vest against Variational Omni−0.048%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 Vest

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 · Vest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.048% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni COPPER	6.8016	0	get 0.0000% / 4h	49m 52s	$739K	$1.6M	—
Short	Vest HG-PERP	6.7984	0.0046	get 0.0006% / 1h	49m 52s	—	$82K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.048%Rate

Funding earned: $9.59
Price spread: −0.048% → 0.000%: −$4.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Vest: 1 bp × 2 orders: −$2
Net: $2.81
Costs to cover: 0.020%
Break-even: 4.9 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Vest: 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	10.8 bp −$108	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
edgeX COPPERUSDC	−0.0016%	4h	6.8025	+0.013%	$93K	$317K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8010	−0.010%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8025	+0.012%	$9.0M	$34.7M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7971	−0.067%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7880	−0.201%	$1.3M	$493K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8020	+0.005%	$27.0M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8030	+0.020%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPERlong	0.0000%	4h	6.8016	long leg	$739K	$1.6M	—
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8060	+0.064%	$89K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8020	+0.005%	—	$7.7M	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	6.8060	+0.064%	$60K	$27K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.157%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7984	−0.047%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0013%	1h	6.8010	−0.010%	$1.5M	$131K	20x	as long as short
BloFin COPPER-USDT	+0.0017%	4h	6.8030	+0.020%	$87K	$149K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.8094	+0.114%	$476K	$45K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.8010	−0.010%	$45K	$30K	20x	as long as short
Vest HG-PERPshort	+0.0046%	1h	6.7984	−0.048%	—	$82K	25x
Paradex XCU-USD-PERP	+0.0050%	8h	6.8017	0.000%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7980	−0.054%	$10.4M	$5.4M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7986	−0.045%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8044	+0.040%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8018	+0.003%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8000	−0.024%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8100	+0.123%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8011	−0.009%	$311	—	10x	as long as short
Extended XCU-USD	+0.0216%	1h	6.7985	−0.046%	$230K	$2.9M	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0312%	1h	6.7927	−0.132%	$28K	$173K	20x	as long as short