COPPER

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	KalshiKXCOPPERPERP	6.5893	+0.0306	pay 0.0919% / 24h	10h 44m	$184K	$437K	7.8x	Long Kalshi
SHORT	Kraken FuturesPF_XCUUSD	6.5487	−0.2016	pay 0.0252% / 1h	44m 42s	$219K	$153K	20x	Short Kraken Futures

Price gap−0.617%

Funding gap−0.2322% /8h

The gap pays +$21 on $10k if it goes back to its 7d average, but funding costs $70 a day and eats that in about 7 hours. At the last 7 days' pace that is about 40 hours.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$87−0.2322% /8h now · paid −0.868% over the last 7D

Price+$21spread −0.617% now, avg −0.825% → +0.208% if it goes back

Costs−$850.851% of $10k · taker + slippage, in and out

Result−$151−1.51%no pointsWhat the last 7D really paid, hour by hour → backtest

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.868% in total, about −0.0413%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.617%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

COPPER on 31 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size2.5 / 47.3 bp
At $10k entering Kraken Futures costs 47.3 bp, fee and slippage, 18.8× Kalshi’s.
Note: Margin at max leverage$1,274 + $500
Kalshi 7.8x, Kraken Futures 20x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ24h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$69.67Long Kalshi: 1 payment, −$9.19; short Kraken Futures: 24 payments, −$60.48.
OK: Entry gap works for you−0.617% vs −0.825%
You short the dearer leg. If the gap goes back to average, the short gains.
Watch: Long leg is thinner$184K vs $219K OI
Kalshi sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKalshi Yes · Kraken Futures Yes
A US-regulated exchange: full KYC (ID, address, SSN when asked) before any trade.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0413%/8h × 21 periods−$86.83

Price spread−0.617% → −0.825% (7d avg)+$20.79

Slippage, 4 orderslive order books−$74.63

Fee Kalshi bp × 2 orders−$0.48

Fee Kraken Futures bp × 2 orders−$10.00

Net · 7 days · $10k−$151.15

Costs to cover0.851%Break-evennever at this rate

Slippage: Kalshi: live order book, 28 min ago; Kraken Futures: live order book, 27 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKalshi1.222.5 bp−$35.5 bp−$55doesn’t fitdoesn’t fit

SELL · SHORTKraken Futures9.6247.3 bp−$47doesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

COPPER news

posts that mention COPPER or Copper, from every exchangeSearch all news →

10-22 12:00	KuCoin	Other	KuCoin TradFi now offers 170+ perpetual contract pairs across eight categories, giving eligible users 24/7 access to contracts referencing US, Hong Kong, and South Korean equities, metals, and other commodities. The lineup covers names like Tesla, NVIDIA, Micron, and SanDisk, plus crude oil, natural gas, copper, and silver, all settled in USDT. For VIP1+ users, the Unified Trading Account supports TradFi futures in one shared framework, and KCUSD can be used as margin while it keeps earning rewards. Explore the full lineup on the KuCoin Blog 👇 @kucoincom on X ↗
10-13 00:00	Kalshi	Other	JUST IN: Copper is trading near a record high @Kalshi on X ↗
10-10 15:02	Ondo Perps	Other	The most in-demand markets trade 24/7 as perpetuals, weekends included: ▸ Intel ▸ XRP ▸ Gold ▸ AMD ▸ Meta ▸ Tesla ▸ Ondo ▸ Silver ▸ Circle ▸ Apple ▸ Zcash ▸ Netflix ▸ CXMT ▸ TSMC ▸ PURR ▸ DRAM ▸ Oracle ▸ Micron ▸ Bitcoin ▸ US100 ▸ US500 ▸ Nebius ▸ Solana ▸ Ethena ▸ Marvell ▸ Unitree ▸ Copper ▸ NVIDIA ▸ BitMine ▸ Alibaba ▸ Palantir ▸ Corning ▸ SpaceX ▸ Sandisk ▸ Amazon ▸ Zhipu AI ▸ MiniMax ▸ Strategy ▸ SK hynix ▸ Moderna ▸ Alphabet ▸ Microsoft ▸ Semis 3x ▸ Cerebras ▸ USD/JPY ▸ Samsung ▸ Coinbase ▸ Take-Two ▸ Ethereum ▸ Broadcom ▸ Lumentum ▸ BlackBerry ▸ Robinhood ▸ Hyperliquid ▸ CoreWeave ▸ Natural Gas ▸ Arm Holdings ▸ S&P 500 ETF ▸ WTI Crude Oil ▸ Brent Crude Oil ▸ South Korea 3x ▸ Nasdaq 100 ETF ▸ South Korea ETF ▸ Uranium Miners ETF Alongside always-on spot markets: ▸ Tesla ▸ Circle ▸ DRAM ▸ Micron ▸ NVIDIA ▸ SpaceX ▸ Sandisk ▸ Alphabet ▸ Gold ETF ▸ OPAIPon ▸ Silver ETF ▸ S&P 500 ETF ▸ Nasdaq 100 ETF All on a single platform. @OndoPerps on X ↗
10-06 13:32	Kalshi	Listing	new market KXCOPPERPERP ($COPPER) seen by our collector
09-29 14:40	Variational Omni	Listing	A swap for Copper $COPP is now live with zero fees, up to 10x leverage, and direct TradFi liquidity. @variational_io on X ↗
09-23 04:09	Bitget	Other	Copper futures just hit a new ATH. Don’t miss the next alpha, follow @Bitget_TradFi for the moves that matter. Let #Bitget empower your next trade. @bitget on X ↗