Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.067%

Price spread now: Binance against SoDEX+0.062%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Binance is 0.062% dearer against SoDEX than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX COPPER-USD	6.8048	0.0050	pay 0.0006% / 1h	48m 18s	$901	$3K	20x
Short	Binance COPPERUSDT	6.8090	0	get 0.0000% / 4h	3h 48m	$9.0M	$34.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SoDEX. 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 SoDEXbpFee BinancebpOrdersPrice spread, now +0.062%Rate

Funding earned: −$10.5
Price spread: +0.062% → 0.000%: $6.17
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$22.33
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Binance: live order book, 8 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 SoDEX no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.73 bp	5.7 bp −$6	9.4 bp −$94	84.0 bp −$8,397	doesn't fit

SoDEX: 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	−0.0448%	1h	6.7948	−0.148%	$28K	$174K	20x	as long as short
edgeX COPPERUSDC	−0.0016%	4h	6.8080	+0.047%	$93K	$318K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8088	+0.059%	$32K	$36K	50x	as long as short
Binance COPPERUSDTshort	0.0000%	4h	6.8090	+0.062%	$9.0M	$34.1M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8076	+0.041%	$470K	$991K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7960	−0.129%	$1.3M	$491K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8100	+0.076%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8090	+0.062%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8094	+0.068%	$741K	$1.6M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8100	+0.076%	$94K	$2.2M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8100	+0.076%	—	$7.4M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8130	+0.121%	$60K	$27K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7940	−0.159%	$4.2M	$78K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8045	−0.005%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0004%	1h	6.8090	+0.062%	$1.5M	$139K	20x	as long as short
BloFin COPPER-USDT	+0.0028%	4h	6.8080	+0.047%	$87K	$150K	100x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8060	+0.018%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8096	+0.071%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8055	+0.010%	$10.4M	$5.1M	20x	as long as short
SoDEX COPPER-USDlong	+0.0050%	1h	6.8048	long leg	$901	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8059	+0.016%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0064%	1h	6.8188	+0.206%	$477K	$45K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8077	+0.043%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8010	−0.056%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8140	+0.135%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8074	+0.038%	$311	—	10x	as long as short
Phoenix COPPER	+0.0118%	1h	6.8095	+0.069%	$45K	$30K	20x	as long as short
Extended XCU-USD	+0.0376%	1h	6.8044	−0.006%	$229K	$2.9M	20x	as long as short