Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: HTX against Orderly+0.029%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. HTX is 0.029% dearer against Orderly than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_COPPER_USDC_mythos	6.8170	0.0100	pay 0.0100% / 8h	1h 38m	$3K	—	10x
Short	HTX COPPER-USDT	6.8190	0	get 0.0000% / 4h	1h 38m	$61K	$24K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Orderly. 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 OrderlybpFee HTXbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$21
Price spread: +0.029% → 0.000%: $2.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.07
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; HTX: 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 Orderly no order-book sample	—	—	—	—	—
Sell HTX no order-book sample	—	—	—	—	—

Orderly and HTX: 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
BloFin COPPER-USDT	−0.0004%	4h	6.8100	−0.103%	$88K	$138K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8089	−0.118%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8080	−0.132%	$9.2M	$33.7M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8002	−0.246%	$496K	$969K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7930	−0.352%	$1.3M	$521K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8070	−0.147%	$26.3M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8060	−0.161%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8133	−0.054%	$735K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8150	−0.029%	$90K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8100	−0.103%	—	$6.4M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDTshort	0.0000%	4h	6.8190	+0.029%	$61K	$24K	75x
Phemex COPPERUSDT	0.0000%	4h	6.8090	−0.117%	$4.2M	$82K	100x	as long as short
edgeX COPPERUSDC	+0.0001%	4h	6.8115	−0.081%	$94K	$318K	20x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8056	−0.168%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0003%	1h	6.8090	−0.117%	$1.5M	$130K	20x	as long as short
tradeXYZ xyz:COPPER	+0.0004%	1h	6.8016	−0.226%	$10.6M	$5.0M	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8037	−0.196%	$276K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8065	−0.154%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8100	−0.103%	$45K	$22K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8086	−0.123%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8046	−0.182%	$4K	$5K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8086	−0.123%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0064%	1h	6.8163	−0.010%	$476K	$42K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8079	−0.133%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8080	−0.132%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythoslong	+0.0100%	8h	6.8170	long leg	$3K	—	10x
Aevo COPPER-PERP	+0.0104%	1h	6.8096	−0.109%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSD	+0.0108%	1h	6.8101	−0.101%	$34K	$176K	20x	as long as short