Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.073%

Price spread now: BloFin against SoDEX+0.088%896s7-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 BloFin

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. BloFin is 0.088% dearer against SoDEX than usual: you sell high and buy low (spread +0.088% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days. The two prices were read 896 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	SoDEX COPPER-USD	6.7990	0.0050	pay 0.0006% / 1h	34m 17s	$900	$3K	20x
Short	BloFin COPPER-USDT	6.8050	−0.0051	pay 0.0026% / 4h	2h 34m	$88K	$144K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$21.3
Price spread: +0.088% → 0.000%: $8.82
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.47
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 17 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 BloFin live order book, 17 min ago	4.41 bp	12.2 bp −$12	15.2 bp −$152	59.5 bp −$5,948	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	−0.1014%	1h	6.7989	−0.001%	$32K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0136%	1h	6.7954	−0.053%	$10.4M	$4.8M	20x	as long as short
BloFin COPPER-USDTshort	−0.0051%	4h	6.8050	+0.088%	$88K	$144K	100x
Aster XCUUSDT	0.0000%	4h	6.8005	+0.021%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8011	+0.031%	$9.1M	$32.2M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7975	−0.022%	$472K	$939K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7850	−0.206%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8000	+0.015%	$26.0M	$5.0M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8000	+0.015%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7954	−0.052%	$741K	$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	6.8012	+0.033%	$95K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8000	+0.015%	—	$6.8M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8030	+0.059%	$61K	$26K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7920	−0.103%	$4.2M	$74K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7995	+0.007%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0006%	1h	6.7990	0.000%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0016%	4h	6.7986	−0.005%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7970	−0.029%	$45K	$30K	20x	as long as short
Lighter XCU	+0.0040%	1h	6.8097	+0.157%	$476K	$39K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7988	−0.003%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8001	+0.017%	$1K	$2K	5x	as long as short
SoDEX COPPER-USDlong	+0.0050%	1h	6.7990	long leg	$900	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7902	−0.129%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7989	−0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8020	+0.044%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8070	+0.118%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7999	+0.014%	$311	—	10x	as long as short
Extended XCU-USD	+0.0408%	1h	6.7992	+0.004%	$229K	$2.9M	20x	as long as short