Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex+0.132%56s7-day average +0.028% · you sell dearer than you buy

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

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now +0.132%, 7d avg +0.028%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.104% dearer against Phemex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.028%. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex COPPERUSDT	6.8240	0	get 0.0000% / 4h	2h 55m	$4.2M	$82K	100x
Short	SunX COPPER-USDT	6.8330	0	get 0.0000% / 4h	2h 55m	—	$5.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Phemex. 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 PhemexbpFee SunXbpOrdersPrice spread, now +0.132%Rate

Funding earned: $0
Price spread: +0.132% → +0.028%: $10.37
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$9.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; SunX: live order book, 3 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 Phemex live order book, 3 min ago	0.73 bp	66.7 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 3 min ago	46.06 bp	doesn't fit	doesn't fit	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	6.8342	+0.150%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8330	+0.132%	$9.0M	$33.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8305	+0.095%	$499K	$891K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8200	−0.059%	$1.3M	$183K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8330	+0.132%	$26.0M	$5.5M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8310	+0.103%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8382	+0.208%	$765K	$1.3M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8399	+0.233%	$91K	$2.4M	25x	as long as short
SunX COPPER-USDTshort	0.0000%	4h	6.8330	+0.132%	—	$5.4M	20x
HTX COPPER-USDT	0.0000%	4h	6.8420	+0.264%	$61K	$54K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDTlong	0.0000%	4h	6.8240	long leg	$4.2M	$82K	100x
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8323	+0.122%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0007%	4h	6.8379	+0.204%	$95K	$318K	20x	as long as short
QFEX COPPER-USD	+0.0020%	1h	6.8330	+0.132%	$1.5M	$144K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8287	+0.069%	$273K	$1.7M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8306	+0.097%	—	$36K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8290	+0.073%	$10.8M	$4.1M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8273	+0.048%	$904	$6K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8350	+0.161%	$57K	$55K	15x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8304	+0.094%	$2K	$1K	5x	as long as short
BloFin COPPER-USDT	+0.0051%	4h	6.8400	+0.234%	$89K	$152K	100x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8317	+0.113%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8320	+0.117%	$266K	$39K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8400	+0.234%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8310	+0.103%	$312	—	10x	as long as short
Phoenix COPPER	+0.0129%	1h	6.8365	+0.183%	$45K	$17K	20x	as long as short
Lighter XCU	+0.0136%	1h	6.8459	+0.321%	$479K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0330%	1h	6.8314	+0.108%	$34K	$178K	20x	as long as short