Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.002%

Price spread now: HTX against QFEX+0.058%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 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 0.058% dearer against QFEX than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX COPPER-USD	6.8420	0.0020	pay 0.0003% / 1h	15m 46s	$1.5M	$150K	20x
Short	HTX COPPER-USDT	6.8460	0	get 0.0000% / 4h	2h 15m	$61K	$71K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against QFEX. 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 QFEXbpFee HTXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$4.28
Price spread: +0.058% → 0.000%: $5.85
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$20.44
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 4 min ago; 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 QFEX live order book, 4 min ago	2.92 bp	9.4 bp −$9	10.8 bp −$108	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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 exchanges

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	−0.0021%	4h	6.8450	+0.044%	$89K	$155K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8430	+0.015%	$35K	$47K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8440	+0.029%	$9.0M	$32.1M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8391	−0.042%	$503K	$843K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8280	−0.205%	$1.3M	$184K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8450	+0.044%	$26.5M	$5.7M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8440	+0.029%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8440	+0.030%	$767K	$535K	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8440	+0.029%	$87K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8440	+0.029%	—	$5.0M	20x	as long as short

Show all 28 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDTshort	0.0000%	4h	6.8460	+0.058%	$61K	$71K	75x
Phemex COPPERUSDT	0.0000%	4h	6.8240	−0.263%	$4.2M	$82K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8391	−0.043%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0007%	4h	6.8410	−0.014%	$95K	$320K	20x	as long as short
QFEX COPPER-USDlong	+0.0020%	1h	6.8420	long leg	$1.5M	$150K	20x
Extended XCU-USD	+0.0032%	1h	6.8406	−0.020%	$273K	$1.7M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8390	−0.044%	—	$36K	25x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8402	−0.026%	$10.8M	$3.9M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8396	−0.035%	$906	$6K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8412	−0.012%	$2K	$825	5x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8372	−0.070%	$59K	$52K	15x	as long as short
Lighter XCU	+0.0064%	1h	6.8519	+0.145%	$479K	$23K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8410	−0.014%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8420	0.000%	$267K	$39K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8500	+0.117%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8423	+0.004%	$313	—	10x	as long as short
Phoenix COPPER	+0.0117%	1h	6.8410	−0.015%	$45K	$17K	20x	as long as short
Kraken Futures PF_XCUUSD	+0.0329%	1h	6.8416	−0.005%	$34K	$180K	20x	as long as short