Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h −0.108%

Price spread now: Kraken Futures against BloFin+0.055%57s7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$437as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.694% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−3.674%−$367 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now +0.055%, 7d avg −0.044%

Together, before fees−3.660%−$366 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.098% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.044%. Mind the row above: over the last 7 days funding on this pair cost −3.674%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin COPPER-USDT	6.7940	0.0024	pay 0.0012% / 4h	1h 07m	$87K	$149K	100x
Short	Kraken Futures PF_XCUUSD	6.7977	0.0060	get 0.0008% / 1h	7m 54s	$27K	$171K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.055%Rate

Funding earned: $7.66
Price spread: +0.055% → −0.044%: $9.84
Slippage, 4 orders: −$47.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$51.91
Costs to cover: 0.694%
Break-even: 54.4 days

Slippage from BloFin: live order book, 66 min ago; Kraken Futures: live order book, 9 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 BloFin live order book, 66 min ago	0.74 bp	11.3 bp −$11	17.9 bp −$179	58.3 bp −$5,834	136.4 bp −$68.2K
Sell Kraken Futures live order book, 9 min ago	2.21 bp	25.0 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
tradeXYZ xyz:COPPER	−0.0021%	1h	6.7938	−0.003%	$10.4M	$5.4M	20x	as long as short
edgeX COPPERUSDC	−0.0015%	4h	6.7969	+0.043%	$93K	$317K	20x	as long as short
QFEX COPPER-USD	−0.0015%	1h	6.7980	+0.059%	$1.5M	$135K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8003	+0.093%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7990	+0.074%	$9.0M	$34.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7943	+0.004%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7840	−0.147%	$1.3M	$499K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7990	+0.074%	$27.0M	$5.1M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7980	+0.059%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7966	+0.038%	$739K	$1.6M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.7980	+0.059%	$90K	$2.2M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7990	+0.074%	—	$7.7M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8020	+0.118%	$60K	$28K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7920	−0.029%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7980	+0.060%	$176K	—	250x	as long as short
BloFin COPPER-USDTlong	+0.0024%	4h	6.7940	long leg	$87K	$149K	100x
Lighter XCU	+0.0032%	1h	6.8077	+0.202%	$476K	$45K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.7979	+0.058%	$231K	$2.9M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7974	+0.050%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7984	+0.064%	$1K	$3K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7943	+0.004%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7927	−0.019%	$56K	$55K	15x	as long as short
Kraken Futures PF_XCUUSDshort	+0.0060%	1h	6.7977	+0.055%	$27K	$171K	20x
Pacifica COPPER	+0.0100%	1h	6.7989	+0.072%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7990	+0.074%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8030	+0.132%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7991	+0.075%	$311	—	10x	as long as short
Phoenix COPPER	+0.0329%	1h	6.7965	+0.037%	$45K	$30K	20x	as long as short