Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.043%

Price spread now: OKX against edgeX−0.083%71s7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.597% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.234%+$23 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.083%, 7d avg −0.015%

Together, before fees+0.305%+ Points / potential airdropedgeX: Active · farm board+$31 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 OKX is 0.068% cheaper against edgeX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.234%, so the current rate has only just turned against you. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX COPPERUSDC	6.8339	0.0020	pay 0.0010% / 4h	3h 16m	$95K	$319K	20x
Short	OKX XCU-USDT-SWAP	6.8282	0	get 0.0000% / 8h	3h 16m	$489K	$972K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$4.17
Price spread: −0.083% → −0.015%: −$6.82
Slippage, 4 orders: −$40.7
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$70.69
Costs to cover: 0.597%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; OKX: live order book, 25 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, 37 min ago	7.33 bp	12.6 bp −$13	25.2 bp −$252	doesn't fit	doesn't fit
Sell OKX live order book, 25 min ago	0.73 bp	17.1 bp −$17	28.8 bp −$288	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
Kraken Futures PF_XCUUSD	−0.0403%	1h	6.8279	−0.087%	$35K	$176K	20x	as long as short
tradeXYZ xyz:COPPER	−0.0057%	1h	6.8291	−0.070%	$10.6M	$4.9M	20x	as long as short
QFEX COPPER-USD	−0.0003%	1h	6.8310	−0.042%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8329	−0.013%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8320	−0.027%	$9.1M	$32.9M	100x	as long as short
OKX XCU-USDT-SWAPshort	0.0000%	8h	6.8282	−0.083%	$489K	$972K	50x
Gate XCU_USDT	0.0000%	8h	6.8200	−0.203%	$1.3M	$505K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8320	−0.027%	$26.1M	$4.5M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8310	−0.042%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8343	+0.007%	$741K	$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	6.8352	+0.019%	$97K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8320	−0.027%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8380	+0.061%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.276%	$4.2M	$78K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8315	−0.035%	$178K	—	250x	as long as short
edgeX COPPERUSDClong	+0.0020%	4h	6.8339	long leg	$95K	$319K	20x
Lighter XCU	+0.0032%	1h	6.8430	+0.134%	$478K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8317	−0.032%	$266K	$2.6M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8317	−0.032%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8325	−0.020%	$45K	$23K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8313	−0.037%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8299	−0.058%	$904	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8291	−0.070%	$57K	$55K	15x	as long as short
BloFin COPPER-USDT	+0.0051%	4h	6.8340	+0.002%	$88K	$135K	100x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8323	−0.022%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8280	−0.086%	$291K	$35K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8370	+0.046%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8305	−0.049%	$312	—	10x	as long as short