Funding you earn now, next payment 08:00 UTC−0.0356%/8h= −39.0% APRnext payment −$0.45 per $10,000 · paid last 24h +0.053%
Price spread now: gTrade (Gains Network) against Kraken Futures−0.008%7-day average +0.059% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$499as in the Price arb table
costs, in and out, $10k−$4924.924% of the position
Funding, last 1 day (all we have)+0.198%+$20 on $10k
+Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.008%, 7d avg +0.059%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and gTrade (Gains Network) is 0.068% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.059%). Swap the legs. Mind the row above: over the last 1 day funding on this pair paid +0.198%, 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 | 6.8206 | 0.0358 | pay 0.0045% / 1h | 52m 22s | $34K | $177K | 20x |
| Short | gTrade (Gains Network) HG/USD | 6.8201 | L +0.0002% / S −0.0001% | get 0.0000% / 1h | 52m 22s | $178K | — | 250x |
Kraken Futures PF_XCUUSD
gTrade (Gains Network) HG/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$74.85
- Price spread: −0.008% → +0.059%
- −$6.76
- Slippage, 4 orders
- −$472.38
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Net
- −$574
- Costs to cover
- 4.924%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 50 min ago; gTrade (Gains Network): virtual book (oracle venue), 17 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, 50 min ago | 3.38 bp | 23.8 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell gTrade (Gains Network) virtual book (oracle venue), 17 min ago | 130.01 bp | 213.6 bp −$214 | 1617.5 bp −$16.2K | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0018% | 4h | 6.8250 | +0.064% | $88K | $144K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8230 | +0.035% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8250 | +0.064% | $9.0M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8206 | 0.000% | $494K | $1.0M | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8110 | −0.141% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8250 | +0.064% | $26.0M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8250 | +0.064% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8232 | +0.038% | $753K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8238 | +0.047% | $90K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.064% | — | $6.3M | 20x | as long as short |
BloFin COPPER-USDT
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-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8270 | +0.093% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8200 | −0.009% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USDshort | L +0.0002% / S −0.0001% | 1h | 6.8201 | −0.008% | $178K | — | 250x | |
| edgeX COPPERUSDC | +0.0014% | 4h | 6.8230 | +0.035% | $95K | $317K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8250 | +0.064% | $1.5M | $128K | 20x | as long as short |
| Extended XCU-USD | +0.0040% | 1h | 6.8209 | +0.004% | $272K | $2.2M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8211 | +0.007% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8213 | +0.010% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8201 | −0.008% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8223 | +0.024% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8255 | +0.071% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8219 | +0.019% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8220 | +0.020% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8290 | +0.123% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8238 | +0.046% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0106% | 1h | 6.8249 | +0.063% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0128% | 1h | 6.8361 | +0.227% | $478K | $26K | 20x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0358% | 1h | 6.8206 | long leg | $34K | $177K | 20x |
HTX COPPER-USDT
Phemex COPPERUSDT
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Lighter XCU