Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.052%

Price spread now: Variational Omni against Vest+0.080%7-day average — · you sell dearer than you buy

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

Long on Vest Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.080% dearer against Vest than usual: you sell high and buy low (spread +0.080% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest HG-PERP	6.8197	0.0046	pay 0.0006% / 1h	50m 25s	—	$82K	25x
Short	Variational Omni COPPER	6.8252	0	get 0.0000% / 4h	50m 25s	$753K	$1.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Vest. 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 VestbpFee Variational OmnibpOrdersPrice spread, now +0.080%Rate

Funding earned: −$9.59
Price spread: +0.080% → 0.000%: $8.02
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.57
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 4 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 Vest no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.97 bp	doesn't fit	11.4 bp −$114	doesn't fit	doesn't fit

Vest: 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
BloFin COPPER-USDT	−0.0045%	4h	6.8270	+0.107%	$88K	$143K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8216	+0.028%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8245	+0.070%	$9.0M	$33.9M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8193	−0.006%	$494K	$1.0M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8100	−0.142%	$1.3M	$528K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8230	+0.048%	$26.0M	$5.0M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8240	+0.063%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPERshort	0.0000%	4h	6.8252	+0.080%	$753K	$1.4M	—
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8238	+0.061%	$90K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8250	+0.078%	—	$6.3M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8270	+0.107%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8200	+0.004%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8212	+0.021%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0016%	4h	6.8258	+0.090%	$95K	$318K	20x	as long as short
QFEX COPPER-USD	+0.0017%	1h	6.8230	+0.048%	$1.5M	$128K	20x	as long as short
Vest HG-PERPlong	+0.0046%	1h	6.8197	long leg	—	$82K	25x
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8206	+0.013%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8218	+0.031%	$4K	$5K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8206	+0.014%	$2K	$1K	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8257	+0.088%	$57K	$55K	15x	as long as short
Extended XCU-USD	+0.0056%	1h	6.8199	+0.004%	$272K	$2.2M	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8205	+0.011%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8200	+0.004%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8290	+0.136%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8243	+0.067%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8249	+0.076%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0128%	1h	6.8346	+0.218%	$478K	$26K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0358%	1h	6.8249	+0.076%	$34K	$177K	20x	as long as short