Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.053%

Price spread now: SoDEX against Binance−0.042%7-day average — · you buy dearer than you sell

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

Long on Binance 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—needs both histories

Funding pays, the price is against you. SoDEX is 0.042% cheaper against Binance than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.8 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	Binance COPPERUSDT	6.8167	0	get 0.0000% / 4h	2h 26m	$9.2M	$33.3M	100x
Short	SoDEX COPPER-USD	6.8138	0.0050	get 0.0006% / 1h	26m 13s	$902	$3K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Binance. 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 BinancebpFee SoDEXbpOrdersPrice spread, now −0.042%Rate

Funding earned: $10.5
Price spread: −0.042% → 0.000%: −$4.24
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$11.74
Costs to cover: 0.180%
Break-even: 14.8 days

Slippage unknown: Binance: live order book, 15 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 Binance live order book, 15 min ago	0.73 bp	5.7 bp −$6	9.7 bp −$97	48.6 bp −$4,863	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	−0.0481%	1h	6.8162	−0.007%	$34K	$176K	20x	as long as short
BloFin COPPER-USDT	−0.0060%	4h	6.8130	−0.054%	$88K	$138K	100x	as long as short
tradeXYZ xyz:COPPER	−0.0019%	1h	6.8149	−0.026%	$10.5M	$4.9M	20x	as long as short
QFEX COPPER-USD	−0.0001%	1h	6.8160	−0.010%	$1.5M	$130K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8181	+0.021%	$32K	$27K	50x	as long as short
Binance COPPERUSDTlong	0.0000%	4h	6.8167	long leg	$9.2M	$33.3M	100x
OKX XCU-USDT-SWAP	0.0000%	8h	6.8116	−0.075%	$490K	$965K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8010	−0.230%	$1.3M	$528K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8160	−0.010%	$26.1M	$4.7M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8140	−0.039%	$2.9M	$2.0M	100x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni COPPER	0.0000%	4h	6.8164	−0.004%	$739K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8240	+0.107%	$87K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8150	−0.025%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8160	−0.010%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.025%	$4.2M	$80K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8166	−0.002%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0003%	4h	6.8200	+0.049%	$95K	$317K	20x	as long as short
Phoenix COPPER	+0.0023%	1h	6.8217	+0.074%	$45K	$23K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8232	+0.096%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8174	+0.010%	$276K	$2.4M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8162	−0.007%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8141	−0.038%	$1K	$2K	5x	as long as short
SoDEX COPPER-USDshort	+0.0050%	1h	6.8138	−0.042%	$902	$3K	20x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8222	+0.081%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8156	−0.016%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8180	+0.019%	$278K	$35K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8210	+0.063%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8157	−0.014%	$312	—	10x	as long as short