Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0547%/8h= +59.9% APRpaid last 24h +0.218%

Price spread now: KuCoin against Kraken Futures+0.023%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$216as in the Funding arb table

Net, price: spread back to 7d avg − costs−$207as in the Price arb table

costs, in and out, $10k−$2022.022% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+4.178%+$418 on $10k

Price spread, last 3 days (all we have)−0.014%−$1 · spread now +0.023%, 7d avg +0.070%

Together, before fees+4.164%+$416 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.047% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.070%). If the spread goes back, that is −$5 on $10k: about 7 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+4.178% 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	6.8095	−0.0447	get 0.0056% / 1h	2m 02s	$32K	$179K	20x
Short	KuCoin COPPERUSDTM	6.8110	0.0100	get 0.0050% / 4h	3h 02m	$258K	$25K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 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 Kraken FuturesbpFee KuCoinbpOrdersPrice spread, now +0.023%Rate

Funding earned: $114.84
Price spread: +0.023% → +0.070%: −$4.7
Slippage, 4 orders: −$180.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$92.07
Costs to cover: 2.022%
Break-even: 12.6 days

Slippage from Kraken Futures: live order book, 5 min ago; KuCoin: live order book, 48 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, 5 min ago	11.67 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 48 min ago	5.88 bp	77.6 bp −$78	646.4 bp −$6,464	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
Kraken Futures PF_XCUUSDlong	−0.0447%	1h	6.8095	long leg	$32K	$179K	20x
tradeXYZ xyz:COPPER	−0.0039%	1h	6.8059	−0.052%	$10.4M	$5.0M	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8120	+0.037%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8116	+0.032%	$9.1M	$33.1M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8085	−0.014%	$472K	$978K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7980	−0.168%	$1.3M	$492K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8110	+0.023%	$27.0M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8140	+0.067%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8122	+0.041%	$742K	$1.5M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8146	+0.075%	$97K	$2.1M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.8110	+0.023%	—	$7.1M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8150	+0.081%	$61K	$25K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7940	−0.227%	$4.2M	$76K	100x	as long as short
edgeX COPPERUSDC	+0.0002%	4h	6.8125	+0.045%	$94K	$318K	20x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8097	+0.004%	$177K	—	250x	as long as short
QFEX COPPER-USD	+0.0004%	1h	6.8100	+0.008%	$1.5M	$130K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8231	+0.200%	$477K	$45K	20x	as long as short
BloFin COPPER-USDT	+0.0043%	4h	6.8080	−0.021%	$87K	$149K	100x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8087	−0.011%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8116	+0.032%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8099	+0.006%	$902	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8071	−0.035%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8096	+0.002%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMshort	+0.0100%	4h	6.8110	+0.023%	$258K	$25K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8180	+0.125%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8111	+0.024%	$311	—	10x	as long as short
Phoenix COPPER	+0.0118%	1h	6.8111	+0.024%	$45K	$30K	20x	as long as short
Extended XCU-USD	+0.0384%	1h	6.8080	−0.021%	$234K	$2.9M	20x	as long as short