Funding you earn now, next payment 06:00 UTC+0.0480%/8h= +52.6% APRpaid last 24h +0.055%
Price spread now: Bitget against Kraken Futures+0.016%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs+$310as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$630.632% of the position
Funding, last 7 days+3.733%+$373 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.016%, 7d avg +0.050%
=Funding pays, the price is against you. Bitget is 0.034% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.016% now, against its 7-day average of +0.050%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+3.733% in total) that is about 2 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XCUUSD | 6.8249 | −0.0480 | get 0.0060% / 1h | 36m 00s | $35K | $176K | 20x |
| Short | Bitget COPPERUSDT | 6.8260 | 0 | get 0.0000% / 4h | 2h 36m | $2.8M | $1.9M | 100x |
Kraken Futures PF_XCUUSD
Bitget COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Kraken Futures. 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
- $100.87
- Price spread: +0.016% → +0.050%
- −$3.38
- Slippage, 4 orders
- −$41.22
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- $34.28
- Costs to cover
- 0.632%
- Break-even
- 4.6 days
Slippage from Kraken Futures: live order book, 11 min ago; Bitget: live order book, 1 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 Kraken Futures live order book, 11 min ago | 5.49 bp | 16.7 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 1 min ago | 0.73 bp | 10.8 bp −$11 | 31.4 bp −$314 | 99.9 bp −$9,986 | 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_XCUUSDlong | −0.0480% | 1h | 6.8249 | long leg | $35K | $176K | 20x | |
| BloFin COPPER-USDT | −0.0036% | 4h | 6.8290 | +0.060% | $88K | $138K | 100x | as long as short |
| tradeXYZ xyz:COPPER | −0.0010% | 1h | 6.8250 | +0.002% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0001% | 1h | 6.8280 | +0.046% | $1.5M | $130K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8272 | +0.034% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8264 | +0.023% | $9.2M | $33.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8244 | −0.007% | $491K | $970K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8090 | −0.233% | $1.3M | $525K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8260 | +0.016% | $26.8M | $4.6M | 100x | as long as short |
| Bitget COPPERUSDTshort | 0.0000% | 4h | 6.8260 | +0.016% | $2.8M | $1.9M | 100x |
BloFin COPPER-USDT
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.8254 | +0.008% | $740K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8300 | +0.075% | $90K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8260 | +0.016% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8280 | +0.046% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.145% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8259 | +0.016% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0009% | 4h | 6.8277 | +0.041% | $95K | $318K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8345 | +0.141% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8361 | +0.164% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8264 | +0.023% | $276K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8269 | +0.030% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8263 | +0.021% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8245 | −0.006% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8235 | −0.020% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8275 | +0.038% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.046% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8320 | +0.104% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8256 | +0.011% | $312 | — | 10x | as long as short |
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
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