Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h −0.058%

Price spread now: edgeX against gTrade (Gains Network)+0.013%68s7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$4694.691% of the position

Long on gTrade (Gains Network)Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.161%−$16 · spread now +0.013%, 7d avg −0.027%

Together, before fees−0.235%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.041% dearer against gTrade (Gains Network) than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 68 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	gTrade (Gains Network) HG/USD	6.8134	L +0.0002% / S −0.0001%	pay 0.0000% / 1h	51m 39s	$178K	—	250x
Short	edgeX COPPERUSDC	6.8143	0.0007	get 0.0003% / 4h	1h 51m	$94K	$317K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee edgeXbpOrdersPrice spread, now +0.013%Rate

Funding earned: $1.02
Price spread: +0.013% → −0.027%: $4.06
Slippage, 4 orders: −$450.06
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$463.99
Costs to cover: 4.691%
Break-even: 3206.9 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 42 min ago; edgeX: live order book, 11 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 gTrade (Gains Network) virtual book (oracle venue), 42 min ago	130.01 bp	229.7 bp −$230	1613.4 bp −$16.1K	13153.3 bp −$1.32M	doesn't fit
Sell edgeX live order book, 11 min ago	7.33 bp	12.9 bp −$13	24.1 bp −$241	doesn't fit	doesn't fit

COPPER on 27 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
QFEX COPPER-USD	0.0000%	1h	6.8180	+0.068%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8187	+0.077%	$32K	$21K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8160	+0.038%	$9.1M	$32.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8140	+0.009%	$472K	$938K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8020	−0.167%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8160	+0.038%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8170	+0.053%	$1.7M	$998K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8154	+0.029%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8181	+0.069%	$88K	$2.0M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8180	+0.068%	—	$6.7M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8240	+0.156%	$61K	$25K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7990	−0.211%	$4.2M	$75K	100x	as long as short
gTrade (Gains Network) HG/USDlong	L +0.0002% / S −0.0001%	1h	6.8134	long leg	$178K	—	250x
edgeX COPPERUSDCshort	+0.0007%	4h	6.8143	+0.013%	$94K	$317K	20x
Phoenix COPPER	+0.0012%	1h	6.8168	+0.050%	$45K	$23K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8142	+0.012%	—	$82K	25x	as long as short
Lighter XCU	+0.0048%	1h	6.8251	+0.172%	$478K	$39K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8151	+0.025%	$1K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8134	0.000%	$10.4M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8141	+0.010%	$902	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8139	+0.007%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8141	+0.011%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8160	+0.038%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8230	+0.141%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8167	+0.049%	$312	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0195%	1h	6.8155	+0.031%	$32K	$176K	20x	as long as short
Extended XCU-USD	+0.0456%	1h	6.8141	+0.010%	$224K	$2.8M	20x	as long as short