Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.013%

Price spread now: SunX against SoDEX+0.032%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 SunX

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. SunX is 0.032% dearer against SoDEX than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX COPPER-USD	6.8278	0.0050	pay 0.0006% / 1h	3m 11s	$904	$3K	20x
Short	SunX COPPER-USDT	6.8300	0	get 0.0000% / 4h	3h 03m	—	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$10.5
Price spread: +0.032% → 0.000%: $3.22
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$23.28
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago	46.14 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0403%	1h	6.8282	+0.005%	$35K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0047%	1h	6.8284	+0.009%	$10.6M	$4.9M	20x	as long as short
QFEX COPPER-USD	−0.0003%	1h	6.8280	+0.003%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8306	+0.041%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8303	+0.037%	$9.1M	$32.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8271	−0.010%	$490K	$971K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8210	−0.100%	$1.3M	$505K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8300	+0.032%	$26.2M	$4.6M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8290	+0.018%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8283	+0.007%	$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	6.8300	+0.032%	$87K	$2.2M	25x	as long as short
SunX COPPER-USDTshort	0.0000%	4h	6.8300	+0.032%	—	$6.6M	20x
HTX COPPER-USDT	0.0000%	4h	6.8320	+0.062%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8160	−0.173%	$4.2M	$78K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8293	+0.023%	$178K	—	250x	as long as short
BloFin COPPER-USDT	+0.0002%	4h	6.8300	+0.032%	$88K	$136K	100x	as long as short
edgeX COPPERUSDC	+0.0016%	4h	6.8283	+0.007%	$95K	$319K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8402	+0.182%	$478K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8295	+0.024%	$264K	$2.5M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8296	+0.026%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8300	+0.032%	$45K	$23K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8278	0.000%	$2K	$2K	5x	as long as short
SoDEX COPPER-USDlong	+0.0050%	1h	6.8278	long leg	$904	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8306	+0.041%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8301	+0.033%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8250	−0.041%	$278K	$35K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8350	+0.105%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8290	+0.017%	$312	—	10x	as long as short