Funding you earn now, next payment 04:00 UTC−0.0291%/8h= −31.9% APRpaid last 24h +0.106%
Price spread now: OKX against Kraken Futures+0.093%7-day average +0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs+$328as in the Funding arb table
Net, price: spread back to 7d avg − costs−$55as in the Price arb table
costs, in and out, $10k−$630.630% of the position
Funding, last 7 days+3.915%+$392 on $10k
+Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.093%, 7d avg +0.010%
=The price spread pays, funding is against you. OKX is 0.083% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of +0.010%): +$8 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 7 days funding on this pair paid +3.915%, 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 | 6.8140 | 0.0291 | pay 0.0036% / 1h | 15m 05s | $34K | $176K | 20x |
| Short | OKX XCU-USDT-SWAP | 6.8203 | 0 | get 0.0000% / 8h | 4h 15m | $480K | $959K | 50x |
Kraken Futures PF_XCUUSD
OKX XCU-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$61.11
- Price spread: +0.093% → +0.010%
- $8.27
- Slippage, 4 orders
- −$43.04
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$115.89
- Costs to cover
- 0.630%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 42 min ago; OKX: live order book, 31 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, 42 min ago | 4.32 bp | 24.8 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell OKX live order book, 31 min ago | 0.59 bp | 7.3 bp −$7 | 29.7 bp −$297 | 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 | 6.8231 | +0.135% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8190 | +0.074% | $9.0M | $32.8M | 100x | as long as short |
| OKX XCU-USDT-SWAPshort | 0.0000% | 8h | 6.8203 | +0.093% | $480K | $959K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.8020 | −0.176% | $1.3M | $495K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8180 | +0.059% | $26.0M | $4.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8190 | +0.074% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8193 | +0.078% | $742K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8200 | +0.088% | $88K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8180 | +0.059% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8240 | +0.147% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
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 | +0.015% | $4.2M | $77K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8201 | +0.090% | $178K | — | 250x | as long as short |
| tradeXYZ xyz:COPPER | +0.0006% | 1h | 6.8166 | +0.038% | $10.5M | $4.8M | 20x | as long as short |
| QFEX COPPER-USD | +0.0009% | 1h | 6.8180 | +0.059% | $1.5M | $129K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0017% | 4h | 6.8188 | +0.071% | $94K | $319K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0030% | 4h | 6.8190 | +0.074% | $88K | $143K | 100x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8290 | +0.220% | $477K | $40K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8200 | +0.088% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8175 | +0.051% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8168 | +0.041% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8142 | +0.003% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8198 | +0.086% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8180 | +0.059% | $290K | $32K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8260 | +0.176% | $3K | — | 10x | as long as short |
| Extended XCU-USD | +0.0104% | 1h | 6.8210 | +0.103% | $263K | $2.7M | 20x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8186 | +0.068% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0164% | 1h | 6.8215 | +0.110% | $45K | $23K | 20x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0291% | 1h | 6.8140 | long leg | $34K | $176K | 20x |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
tradeXYZ xyz:COPPER
QFEX COPPER-USD
edgeX COPPERUSDC
BloFin COPPER-USDT
Lighter XCU
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Extended XCU-USD
Aevo COPPER-PERP
Phoenix COPPER