Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.033%

Price spread now: OKX against BloFin−0.111%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on BloFin Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.111%, 7d avg −0.036%

Together, before fees+0.292%+$29 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 OKX is 0.076% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, 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	6.8270	0.0047	pay 0.0023% / 4h	7m 22s	$88K	$144K	100x
Short	OKX XCU-USDT-SWAP	6.8194	0	get 0.0000% / 8h	7m 22s	$496K	$973K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.111%Rate

Funding earned: −$9.77
Price spread: −0.111% → −0.036%: −$7.58
Slippage, 4 orders: −$13.65
Fee BloFin: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$53
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from BloFin: live order book, 60 min ago; OKX: live order book, 19 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, 60 min ago	1.47 bp	7.5 bp −$7	9.1 bp −$91	48.3 bp −$4,833	121.0 bp −$60.5K
Sell OKX live order book, 19 min ago	0.66 bp	11.0 bp −$11	29.1 bp −$291	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
Aster XCUUSDT	0.0000%	4h	6.8277	+0.011%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8260	−0.015%	$9.0M	$33.5M	100x	as long as short
OKX XCU-USDT-SWAPshort	0.0000%	8h	6.8194	−0.111%	$496K	$973K	50x
Gate XCU_USDT	0.0000%	8h	6.8110	−0.234%	$1.3M	$529K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8260	−0.015%	$26.7M	$5.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8260	−0.015%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8286	+0.024%	$766K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8310	+0.059%	$94K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8250	−0.029%	—	$6.0M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8360	+0.132%	$61K	$24K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.176%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8251	−0.028%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0014%	4h	6.8298	+0.042%	$95K	$318K	20x	as long as short
QFEX COPPER-USD	+0.0017%	1h	6.8270	0.000%	$1.5M	$137K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8242	−0.042%	$274K	$2.0M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8236	−0.050%	—	$82K	25x	as long as short
BloFin COPPER-USDTlong	+0.0047%	4h	6.8270	long leg	$88K	$144K	100x
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8209	−0.089%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8210	−0.088%	$4K	$5K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8227	−0.063%	$2K	$1K	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8333	+0.092%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8224	−0.067%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8250	−0.029%	$278K	$36K	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	6.8257	−0.019%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8258	−0.018%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0160%	1h	6.8351	+0.119%	$478K	$27K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0358%	1h	6.8213	−0.083%	$34K	$178K	20x	as long as short