Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h +0.070%

Price spread now: Gate against BloFin−0.235%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1001.003% of the position

Long on BloFin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.267%+$27 on $10k

Price spread, last 3 days (all we have)+0.153%+$15 · spread now −0.235%, 7d avg −0.072%

Together, before fees+0.421%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.163% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.072%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.267%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin COPPER-USDT	6.8000	0.0049	pay 0.0025% / 4h	44m 36s	$87K	$149K	100x
Short	Gate XCU_USDT	6.7840	0	get 0.0000% / 8h	44m 36s	$1.3M	$493K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against BloFin. 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 BloFinbpFee GatebpOrdersPrice spread, now −0.235%Rate

Funding earned: −$10.32
Price spread: −0.235% → −0.072%: −$16.31
Slippage, 4 orders: −$73.26
Fee BloFin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$126.89
Costs to cover: 1.003%
Break-even: never at this rate

Slippage from BloFin: live order book, 17 min ago; Gate: live order book, 3 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 BloFin live order book, 17 min ago	1.47 bp	7.5 bp −$7	8.9 bp −$89	32.0 bp −$3,198	102.1 bp −$51.1K
Sell Gate live order book, 3 min ago	1.47 bp	48.6 bp −$49	296.0 bp −$2,960	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	−0.0005%	4h	6.8014	+0.021%	$93K	$318K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7983	−0.025%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7980	−0.029%	$9.0M	$34.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7948	−0.076%	$467K	$1.2M	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.7840	−0.235%	$1.3M	$493K	100x
MEXC COPPER_USDT	0.0000%	4h	6.7970	−0.044%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7990	−0.015%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7997	−0.005%	$739K	$1.6M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8045	+0.067%	$89K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7980	−0.029%	—	$7.6M	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	6.8050	+0.074%	$60K	$27K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7910	−0.132%	$4.2M	$80K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7946	−0.080%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0013%	1h	6.7980	−0.029%	$1.5M	$131K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8059	+0.087%	$476K	$45K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.8011	+0.016%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7952	−0.071%	—	$82K	25x	as long as short
BloFin COPPER-USDTlong	+0.0049%	4h	6.8000	long leg	$87K	$149K	100x
Paradex XCU-USD-PERP	+0.0050%	8h	6.7965	−0.052%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7945	−0.081%	$10.4M	$5.4M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7952	−0.071%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8028	+0.041%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7972	−0.041%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7970	−0.044%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8060	+0.088%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7976	−0.035%	$311	—	10x	as long as short
Extended XCU-USD	+0.0272%	1h	6.7948	−0.077%	$230K	$2.9M	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0312%	1h	6.7914	−0.127%	$28K	$173K	20x	as long as short