Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.037%

Price spread now: KuCoin against Ondo Perps−0.022%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$19 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.022% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.022% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 35 hours of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps COPPER-USD.P	6.8245	0.0050	pay 0.0006% / 1h	9m 27s	$57K	$55K	15x
Short	KuCoin COPPERUSDTM	6.8230	0.0100	get 0.0050% / 4h	2h 09m	$278K	$35K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now −0.022%Rate

Funding earned: $10.42
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$8.78
Costs to cover: 0.170%
Break-even: 12.9 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 47 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 47 min ago	15.37 bp	55.1 bp −$55	630.4 bp −$6,304	doesn't fit	doesn't fit

Ondo Perps: 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
Kraken Futures PF_XCUUSD	−0.0480%	1h	6.8245	0.000%	$35K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0004%	1h	6.8203	−0.062%	$10.6M	$5.0M	20x	as long as short
QFEX COPPER-USD	−0.0001%	1h	6.8240	−0.007%	$1.5M	$130K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8240	−0.007%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8250	+0.007%	$9.2M	$33.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8178	−0.098%	$498K	$973K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8080	−0.242%	$1.3M	$532K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8240	−0.007%	$26.7M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8240	−0.007%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8223	−0.032%	$740K	$1.4M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8221	−0.035%	$95K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8230	−0.022%	—	$6.5M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8250	+0.007%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8240	−0.007%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8222	−0.034%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0009%	4h	6.8219	−0.037%	$95K	$318K	20x	as long as short
Phoenix COPPER	+0.0023%	1h	6.8242	−0.004%	$45K	$23K	20x	as long as short
BloFin COPPER-USDT	+0.0025%	4h	6.8210	−0.051%	$88K	$139K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.8309	+0.094%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8219	−0.038%	$276K	$2.4M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8215	−0.044%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8225	−0.029%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8221	−0.035%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.Plong	+0.0050%	1h	6.8245	long leg	$57K	$55K	15x
Pacifica COPPER	+0.0100%	1h	6.8218	−0.039%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMshort	+0.0100%	4h	6.8230	−0.022%	$278K	$35K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8290	+0.066%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8244	−0.002%	$312	—	10x	as long as short