Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0760%/8h= +83.2% APRpaid last 24h +0.098%

Price spread now: Extended against Binance−0.002%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.356%+$36 on $10k

Price spread, last 7 days+0.028%+$3 · spread now −0.002%, 7d avg +0.020%

Together, before fees+0.383%+ Points / potential airdropExtended: Active · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.022% cheaper against Binance than usual: you would sell low and buy high (spread −0.002% now, against its 7-day average of +0.020%). If the spread goes back, that is −$2 on $10k: about 2 hours of funding at the current rate (+$23 a day). At the pace of the last 7 days (+0.356% in total) that is about 10 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.356% in total (about 18.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance COPPERUSDT	6.8270	0	get 0.0000% / 4h	39m 21s	$9.0M	$32.5M	100x
Short	Extended XCU-USD	6.8269	0.0760	get 0.0095% / 1h	39m 21s	$242K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Binance. 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 BinancebpFee ExtendedbpOrdersPrice spread, now −0.002%Rate

Funding earned: $159.6
Price spread: −0.002% → +0.020%: −$2.19
Slippage, 4 orders: −$4.84
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $137.57
Costs to cover: 0.198%
Break-even: 1.0 days

Slippage from Binance: live order book, 2 min ago; Extended: live order book, 4 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 Binance live order book, 2 min ago	0.73 bp	6.0 bp −$6	10.1 bp −$101	45.5 bp −$4,552	doesn't fit
Sell Extended live order book, 4 min ago	0.66 bp	3.5 bp −$3	63.9 bp −$639	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	6.8290	+0.029%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8284	+0.021%	$32K	$27K	50x	as long as short
Binance COPPERUSDTlong	0.0000%	4h	6.8270	long leg	$9.0M	$32.5M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8244	−0.038%	$473K	$955K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8100	−0.249%	$1.3M	$495K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8270	0.000%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8290	+0.029%	$1.7M	$986K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8272	+0.003%	$743K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8300	+0.044%	$91K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8270	0.000%	—	$6.7M	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	6.8310	+0.058%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.176%	$4.2M	$76K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8242	−0.041%	$178K	—	250x	as long as short
QFEX COPPER-USD	+0.0009%	1h	6.8270	0.000%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0020%	4h	6.8330	+0.088%	$95K	$317K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8391	+0.177%	$477K	$40K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8261	−0.013%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8261	−0.014%	$2K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8261	−0.013%	$10.5M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8257	−0.019%	$904	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8297	+0.039%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8281	+0.016%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8230	−0.059%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8320	+0.073%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8269	−0.002%	$312	—	10x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8274	+0.006%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0290%	1h	6.8271	+0.001%	$35K	$176K	20x	as long as short
Extended XCU-USDshort	+0.0760%	1h	6.8269	−0.002%	$242K	$2.8M	20x