Funding you earn now, next payment 07:00 UTC−0.0075%/8h= −8.3% APRnext payment −$0.09 per $10,000 · paid last 24h +0.115%
Price spread now: Extended against Kraken Futures−0.085%7-day average +0.088% · you buy dearer than you sell
Net, funding: paid 7d − costs+$356as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$490.492% of the position
Funding, last 7 days+4.056%+$406 on $10k
+Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.085%, 7d avg +0.088%
=Together, before fees+4.183%+ Points / potential airdropExtended: Active · farm board+$418 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.173% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.088%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +4.056%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XCUUSD | 6.8230 | 0.0107 | pay 0.0013% / 1h | 55m 54s | $35K | $176K | 20x |
| Short | Extended XCU-USD | 6.8172 | 0.0032 | get 0.0004% / 1h | 55m 54s | $273K | $2.4M | 20x |
Kraken Futures PF_XCUUSD
Extended XCU-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$15.83
- Price spread: −0.085% → +0.088%
- −$17.31
- Slippage, 4 orders
- −$34.18
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$82.32
- Costs to cover
- 0.492%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 51 min ago; Extended: live order book, 3 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, 51 min ago | 5.49 bp | 16.7 bp −$17 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 3 min ago | 1.10 bp | 4.0 bp −$4 | 59.1 bp −$591 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8202 | −0.041% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8224 | −0.008% | $9.2M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8174 | −0.082% | $498K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8080 | −0.219% | $1.3M | $519K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | −0.044% | $26.7M | $4.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8210 | −0.029% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8222 | −0.011% | $739K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8240 | +0.015% | $93K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8230 | 0.000% | — | $6.5M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.030% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.117% | $4.2M | $81K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0001% | 4h | 6.8219 | −0.016% | $95K | $320K | 20x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8182 | −0.070% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8220 | −0.014% | $1.5M | $130K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8193 | −0.054% | $45K | $22K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0028% | 1h | 6.8172 | −0.085% | $10.6M | $5.0M | 20x | as long as short |
| BloFin COPPER-USDT | +0.0030% | 4h | 6.8220 | −0.014% | $88K | $140K | 100x | as long as short |
| Extended XCU-USDshort | +0.0032% | 1h | 6.8172 | −0.085% | $273K | $2.4M | 20x | |
| Vest HG-PERP | +0.0046% | 1h | 6.8188 | −0.061% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8203 | −0.039% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8169 | −0.089% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8184 | −0.067% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0056% | 1h | 6.8298 | +0.100% | $477K | $41K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8192 | −0.055% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8180 | −0.073% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.088% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8211 | −0.027% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0107% | 1h | 6.8230 | long leg | $35K | $176K | 20x |
Phemex COPPERUSDT
edgeX COPPERUSDC
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Phoenix COPPER
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP