Funding you earn now, next payment 03:00 UTC−0.0163%/8h= −17.9% APRnext payment −$0.20 per $10,000 · paid last 24h +0.160%
Price spread now: Lighter against Kraken Futures+0.117%7-day average +0.223% · you sell dearer than you buy
Net, funding: paid 7d − costs+$299as in the Funding arb table
Net, price: spread back to 7d avg − costs−$84as in the Price arb table
costs, in and out, $10k−$740.738% of the position
Funding, last 7 days+3.730%+$373 on $10k
+Price spread, last 3 days (all we have)+0.039%+$4 · spread now +0.117%, 7d avg +0.223%
=Together, before fees+3.769%+ Points / potential airdropLighter: Season 3 · farm board+$377 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.105% cheaper against Kraken Futures than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.223%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.730%, 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 | 6.8156 | 0.0195 | pay 0.0024% / 1h | 56m 23s | $32K | $176K | 20x |
| Short | Lighter XCU | 6.8236 | 0.0032 | get 0.0004% / 1h | 56m 23s | $477K | $39K | 20x |
Kraken Futures PF_XCUUSD
Lighter XCUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$34.3
- Price spread: +0.117% → +0.223%
- −$10.53
- Slippage, 4 orders
- −$63.77
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$118.6
- Costs to cover
- 0.738%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 6 min ago; Lighter: live order book, 64 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, 6 min ago | 5.13 bp | 19.2 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 64 min ago | 2.57 bp | 19.4 bp −$19 | 24.0 bp −$240 | doesn't fit | doesn't fit |
COPPER on 27 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX COPPER-USD | 0.0000% | 1h | 6.8130 | −0.038% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8164 | +0.012% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8160 | +0.007% | $9.1M | $32.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8140 | −0.023% | $475K | $936K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8020 | −0.199% | $1.3M | $478K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8160 | +0.006% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8170 | +0.021% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8203 | +0.069% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8180 | +0.036% | $88K | $2.0M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8160 | +0.006% | — | $6.8M | 20x | as long as short |
QFEX COPPER-USD
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 27 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8180 | +0.035% | $61K | $25K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7990 | −0.243% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8111 | −0.066% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0017% | 4h | 6.8196 | +0.059% | $95K | $319K | 20x | as long as short |
| Lighter XCUshort | +0.0032% | 1h | 6.8236 | +0.117% | $477K | $39K | 20x | |
| Phoenix COPPER | +0.0035% | 1h | 6.8165 | +0.013% | $45K | $22K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8115 | −0.060% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8142 | −0.021% | $1K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8121 | −0.051% | $10.4M | $4.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8116 | −0.059% | $902 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8107 | −0.072% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8128 | −0.041% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8150 | −0.009% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8210 | +0.079% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8148 | −0.012% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0195% | 1h | 6.8156 | long leg | $32K | $176K | 20x | |
| Extended XCU-USD | +0.0408% | 1h | 6.8119 | −0.054% | $224K | $2.8M | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD