Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.051%

Price spread now: MEXC against Orderly−0.102%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.102% cheaper against Orderly than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_COPPER_USDC_mythos	6.8490	0.0100	pay 0.0100% / 8h	6h 14m	$3K	—	10x
Short	MEXC COPPER_USDT	6.8420	0	get 0.0000% / 4h	2h 14m	$26.5M	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Orderly. 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 OrderlybpFee MEXCbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$21
Price spread: −0.102% → 0.000%: −$10.22
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee MEXC: 0 bp × 2 orders: $0
Net: −$37.22
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; MEXC: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	0.73 bp	0.7 bp −$1	2.1 bp −$21	8.8 bp −$884	252.4 bp −$126.2K

Orderly: 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 exchanges

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	−0.0058%	4h	6.8440	−0.073%	$89K	$155K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8430	−0.088%	$35K	$47K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8430	−0.088%	$9.0M	$32.1M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8366	−0.181%	$503K	$844K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8280	−0.307%	$1.3M	$184K	100x	as long as short
MEXC COPPER_USDTshort	0.0000%	4h	6.8420	−0.102%	$26.5M	$5.7M	100x
Bitget COPPERUSDT	0.0000%	4h	6.8430	−0.088%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8440	−0.073%	$767K	$535K	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8434	−0.082%	$87K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8440	−0.073%	—	$5.0M	20x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8460	−0.044%	$61K	$71K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8240	−0.365%	$4.2M	$82K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8391	−0.145%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0007%	4h	6.8427	−0.092%	$95K	$320K	20x	as long as short
QFEX COPPER-USD	+0.0020%	1h	6.8420	−0.102%	$1.5M	$150K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8376	−0.166%	$273K	$1.7M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8389	−0.147%	—	$36K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8387	−0.150%	$10.8M	$3.9M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8390	−0.146%	$906	$6K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8412	−0.114%	$2K	$825	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8372	−0.172%	$59K	$52K	15x	as long as short
Lighter XCU	+0.0064%	1h	6.8509	+0.028%	$479K	$23K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8410	−0.117%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8410	−0.117%	$267K	$39K	50x	as long as short
Orderly PERP_COPPER_USDC_mythoslong	+0.0100%	8h	6.8490	long leg	$3K	—	10x
Aevo COPPER-PERP	+0.0104%	1h	6.8420	−0.102%	$313	—	10x	as long as short
Phoenix COPPER	+0.0117%	1h	6.8410	−0.117%	$45K	$17K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0329%	1h	6.8415	−0.110%	$34K	$180K	20x	as long as short