Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.50 per $10,000 · paid last 24h +0.108%
Price spread now: KuCoin against Binance−0.003%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1311.308% of the position
Funding, last 7 days+0.505%+$51 on $10k
+Price spread, last 2 days (all we have)+0.093%+$9 · spread now −0.003%, 7d avg +0.051%
=Funding pays, the price is against you. KuCoin is 0.054% cheaper against Binance than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.051%). If the spread goes back, that is −$5 on $10k: about 43 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.505% in total) that is about 18 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance COPPERUSDT | 6.7962 | 0 | get 0.0000% / 4h | 23m 47s | $9.0M | $34.2M | 100x |
| Short | KuCoin COPPERUSDTM | 6.7960 | 0.0100 | get 0.0050% / 4h | 23m 47s | $258K | $25K | 50x |
Binance COPPERUSDT
KuCoin COPPERUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: −0.003% → +0.051%
- −$5.42
- Slippage, 4 orders
- −$108.76
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$115.18
- Costs to cover
- 1.308%
- Break-even
- 45.4 days
Slippage from Binance: live order book, 3 min ago; KuCoin: live order book, 37 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, 3 min ago | 0.74 bp | 6.3 bp −$6 | 11.7 bp −$117 | 64.4 bp −$6,444 | doesn't fit |
| Sell KuCoin live order book, 37 min ago | 12.49 bp | 69.1 bp −$69 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX COPPERUSDC | −0.0005% | 4h | 6.7947 | −0.022% | $93K | $316K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.7960 | −0.003% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.7962 | long leg | $9.0M | $34.2M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.7936 | −0.038% | $467K | $1.2M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7830 | −0.194% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.7960 | −0.003% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.7980 | +0.027% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.7957 | −0.007% | $739K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.7966 | +0.007% | $90K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.7960 | −0.003% | — | $7.5M | 20x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.7990 | +0.041% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7920 | −0.062% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.7931 | −0.046% | $176K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0013% | 1h | 6.7950 | −0.018% | $1.5M | $130K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0021% | 4h | 6.7950 | −0.018% | $87K | $149K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8065 | +0.152% | $476K | $45K | 20x | as long as short |
| Phoenix COPPER | +0.0035% | 1h | 6.7958 | −0.006% | $45K | $30K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.7928 | −0.050% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.7955 | −0.011% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.7925 | −0.054% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.7936 | −0.038% | $900 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.7984 | +0.032% | $56K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.7960 | −0.003% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMshort | +0.0100% | 4h | 6.7960 | −0.003% | $258K | $25K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8030 | +0.100% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.7944 | −0.026% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0312% | 1h | 6.7949 | −0.020% | $28K | $173K | 20x | as long as short |
| Extended XCU-USD | +0.0424% | 1h | 6.7939 | −0.034% | $230K | $2.9M | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
BloFin COPPER-USDT
Lighter XCU
Phoenix COPPER
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Kraken Futures PF_XCUUSD
Extended XCU-USD