Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.061%

Price spread now: gTrade (Gains Network) against KuCoin+0.042%7-day average −0.023% · 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−$584as in the Price arb table

costs, in and out, $10k−$5905.901% of the position

Long on KuCoin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.042%, 7d avg −0.023%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.065% dearer against KuCoin than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.023%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin COPPERUSDTM	6.8180	0.0100	pay 0.0050% / 4h	11m 30s	$290K	$32K	50x
Short	gTrade (Gains Network) HG/USD	6.8209	L +0.0002% / S −0.0001%	get 0.0000% / 1h	11m 30s	$178K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against KuCoin. 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 KuCoinbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.042%Rate

Funding earned: −$20.7
Price spread: +0.042% → −0.023%: $6.49
Slippage, 4 orders: −$568.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$604.34
Costs to cover: 5.901%
Break-even: never at this rate

Slippage from KuCoin: live order book, 69 min ago; gTrade (Gains Network): virtual book (oracle venue), 13 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 KuCoin live order book, 69 min ago	10.26 bp	66.8 bp −$67	691.6 bp −$6,916	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 13 min ago	130.00 bp	213.6 bp −$214	1617.5 bp −$16.2K	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
BloFin COPPER-USDT	−0.0023%	4h	6.8200	+0.029%	$88K	$144K	100x	as long as short
tradeXYZ xyz:COPPER	−0.0008%	1h	6.8177	−0.004%	$10.5M	$4.8M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8235	+0.081%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8203	+0.034%	$9.0M	$32.8M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8197	+0.025%	$480K	$959K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8020	−0.235%	$1.3M	$495K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8200	+0.029%	$26.0M	$4.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8200	+0.029%	$2.5M	$1.7M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8193	+0.019%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8199	+0.028%	$95K	$2.1M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8200	+0.029%	—	$6.6M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8230	+0.073%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.044%	$4.2M	$77K	100x	as long as short
gTrade (Gains Network) HG/USDshort	L +0.0002% / S −0.0001%	1h	6.8209	+0.042%	$178K	—	250x
edgeX COPPERUSDC	+0.0007%	4h	6.8171	−0.014%	$94K	$320K	20x	as long as short
QFEX COPPER-USD	+0.0009%	1h	6.8200	+0.029%	$1.5M	$129K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8306	+0.185%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8221	+0.061%	$266K	$2.7M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8217	+0.054%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8195	+0.022%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8177	−0.004%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8231	+0.075%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8222	+0.061%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMlong	+0.0100%	4h	6.8180	long leg	$290K	$32K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8260	+0.117%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8193	+0.019%	$312	—	10x	as long as short
Phoenix COPPER	+0.0164%	1h	6.8217	+0.054%	$45K	$23K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0291%	1h	6.8156	−0.035%	$34K	$176K	20x	as long as short