Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0019%/8h= −2.0% APRpaid last 24h +0.043%

Price spread now: Gate against edgeX−0.223%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on edgeX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.292%+$29 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.223%, 7d avg −0.067%

Together, before fees+0.364%+ Points / potential airdropedgeX: Active · farm board+$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.156% cheaper against edgeX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.292%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX COPPERUSDC	6.8222	0.0019	pay 0.0009% / 4h	15m 39s	$95K	$320K	20x
Short	Gate XCU_USDT	6.8070	0	get 0.0000% / 8h	15m 39s	$1.3M	$528K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against edgeX. 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 edgeXbpFee GatebpOrdersPrice spread, now −0.223%Rate

Funding earned: −$3.93
Price spread: −0.223% → −0.067%: −$15.57
Slippage, 4 orders: −$61.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$104.59
Costs to cover: 0.851%
Break-even: never at this rate

Slippage from edgeX: live order book, 22 min ago; Gate: live order book, 2 min ago.

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 edgeX live order book, 22 min ago	7.32 bp	12.7 bp −$13	25.4 bp −$254	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.47 bp	30.2 bp −$30	217.7 bp −$2,177	doesn't fit	doesn't fit

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
Aster XCUUSDT	0.0000%	4h	6.8222	0.000%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8220	−0.003%	$9.0M	$33.7M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8157	−0.095%	$494K	$983K	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.8070	−0.223%	$1.3M	$528K	100x
MEXC COPPER_USDT	0.0000%	4h	6.8220	−0.003%	$26.6M	$5.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8210	−0.018%	$2.9M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8214	−0.011%	$765K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8273	+0.075%	$86K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8220	−0.003%	—	$6.1M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8240	+0.026%	$61K	$24K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.106%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8173	−0.072%	$178K	—	250x	as long as short
BloFin COPPER-USDT	+0.0011%	4h	6.8220	−0.003%	$88K	$148K	100x	as long as short
QFEX COPPER-USD	+0.0017%	1h	6.8210	−0.018%	$1.5M	$134K	20x	as long as short
edgeX COPPERUSDClong	+0.0019%	4h	6.8222	long leg	$95K	$320K	20x
Vest HG-PERP	+0.0046%	1h	6.8180	−0.062%	—	$82K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8173	−0.072%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8170	−0.076%	$4K	$5K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8187	−0.051%	$2K	$1K	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8278	+0.082%	$57K	$55K	15x	as long as short
Extended XCU-USD	+0.0096%	1h	6.8173	−0.071%	$274K	$2.0M	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8184	−0.055%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8200	−0.032%	$278K	$36K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8270	+0.070%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8206	−0.024%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8239	+0.025%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0176%	1h	6.8312	+0.132%	$478K	$27K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0358%	1h	6.8173	−0.071%	$34K	$178K	20x	as long as short