Funding you earn now, next payment 06:00 UTC−0.0480%/8h= −52.6% APRpaid last 24h −0.031%
Price spread now: Kraken Futures against Binance−0.020%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$432as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$630.629% of the position
Funding, last 7 days−3.695%−$370 on $10k
+Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.020%, 7d avg −0.031%
=The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COPPERUSDT | 6.8320 | 0 | get 0.0000% / 4h | 2h 51m | $9.1M | $33.0M | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8307 | −0.0480 | pay 0.0060% / 1h | 51m 06s | $35K | $176K | 20x |
Binance COPPERUSDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$100.79
- Price spread: −0.020% → −0.031%
- $1.18
- Slippage, 4 orders
- −$42.9
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$162.52
- Costs to cover
- 0.629%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 min ago; Kraken Futures: live order book, 61 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 Binance live order book, 6 min ago | 0.73 bp | 5.9 bp −$6 | 9.9 bp −$99 | 51.6 bp −$5,162 | doesn't fit |
| Sell Kraken Futures live order book, 61 min ago | 9.16 bp | 25.2 bp −$25 | doesn't fit | 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_XCUUSDshort | −0.0480% | 1h | 6.8307 | −0.020% | $35K | $176K | 20x | |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8310 | −0.015% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8318 | −0.003% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8320 | long leg | $9.1M | $33.0M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8286 | −0.050% | $490K | $969K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8110 | −0.307% | $1.3M | $519K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8310 | −0.015% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | −0.015% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8293 | −0.039% | $741K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8294 | −0.037% | $91K | $2.2M | 25x | as long as short |
QFEX COPPER-USD
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8320 | 0.000% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8310 | −0.015% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8170 | −0.220% | $4.2M | $79K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8309 | −0.017% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8283 | −0.054% | $95K | $318K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0012% | 1h | 6.8291 | −0.042% | $10.6M | $4.9M | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8295 | −0.037% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0025% | 4h | 6.8310 | −0.015% | $88K | $138K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8416 | +0.141% | $478K | $39K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8305 | −0.021% | $271K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8307 | −0.019% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8294 | −0.037% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8294 | −0.038% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8310 | −0.015% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8314 | −0.009% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8320 | 0.000% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8350 | +0.044% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8305 | −0.023% | $312 | — | 10x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
tradeXYZ xyz:COPPER
Phoenix COPPER
BloFin COPPER-USDT
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP