Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.063%

Price spread now: SoDEX against Variational Omni−0.054%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on SoDEX

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. SoDEX is 0.054% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni COPPER	6.7974	0	get 0.0000% / 4h	2h 38m	$741K	$1.4M	—
Short	SoDEX COPPER-USD	6.7938	0.0050	get 0.0006% / 1h	38m 18s	$900	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Variational Omni. 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 Variational OmnibpFee SoDEXbpOrdersPrice spread, now −0.054%Rate

Funding earned: $10.5
Price spread: −0.054% → 0.000%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$2.86
Costs to cover: 0.080%
Break-even: 8.9 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; SoDEX: no order-book sample. 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 Variational Omni RFQ quote, 1 min ago	2.98 bp	doesn't fit	11.2 bp −$112	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

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	−0.1015%	1h	6.7944	−0.045%	$32K	$175K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0140%	1h	6.7902	−0.107%	$10.4M	$4.8M	20x	as long as short
BloFin COPPER-USDT	−0.0051%	4h	6.8050	+0.111%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7964	−0.015%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7957	−0.026%	$9.1M	$32.3M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7973	−0.002%	$472K	$941K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7860	−0.168%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7950	−0.036%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7960	−0.021%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPERlong	0.0000%	4h	6.7974	long leg	$741K	$1.4M	—

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	6.8000	+0.038%	$95K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7970	−0.007%	—	$6.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7980	+0.008%	$61K	$26K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7900	−0.110%	$4.2M	$74K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7934	−0.059%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0006%	1h	6.7970	−0.007%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0009%	4h	6.7994	+0.029%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7967	−0.011%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7952	−0.033%	—	$82K	25x	as long as short
Lighter XCU	+0.0048%	1h	6.8062	+0.129%	$476K	$39K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7979	+0.007%	$1K	$2K	5x	as long as short
SoDEX COPPER-USDshort	+0.0050%	1h	6.7938	−0.054%	$900	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7986	+0.017%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7973	−0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7980	+0.008%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8010	+0.052%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7943	−0.046%	$311	—	10x	as long as short
Extended XCU-USD	+0.0416%	1h	6.7938	−0.054%	$229K	$2.9M	20x	as long as short