Funding you earn now, next payment 10:00 UTC−0.0279%/8h= −30.6% APRnext payment −$0.35 per $10,000 · paid last 24h +0.019%
Price spread now: tradeXYZ against Kraken Futures−0.033%7-day average +0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs+$327as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$610.610% of the position
Funding, last 7 days+3.884%+$388 on $10k
+Price spread, last 4 days (all we have)+0.024%+$2 · spread now −0.033%, 7d avg +0.043%
=Together, before fees+3.908%+ Points / potential airdroptradeXYZ: Active · farm board+$391 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and tradeXYZ is 0.075% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.884%, 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 | 6.8416 | 0.0329 | pay 0.0041% / 1h | 16m 16s | $34K | $180K | 20x |
| Short | tradeXYZ xyz:COPPER | 6.8394 | 0.0050 | get 0.0006% / 1h | 16m 16s | $10.8M | $3.9M | 20x |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$58.68
- Price spread: −0.033% → +0.043%
- −$7.53
- Slippage, 4 orders
- −$33.01
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$127.23
- Costs to cover
- 0.610%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 34 min ago; tradeXYZ: live order book, 6 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, 34 min ago | 3.73 bp | 15.1 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 6 min ago | 0.73 bp | 10.2 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
COPPER on 28 exchanges
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 | −0.0021% | 4h | 6.8450 | +0.049% | $89K | $155K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8430 | +0.020% | $35K | $47K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8440 | +0.034% | $9.0M | $32.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8391 | −0.037% | $503K | $843K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8270 | −0.214% | $1.3M | $184K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8430 | +0.020% | $26.5M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8440 | +0.034% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8401 | −0.023% | $767K | $549K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8440 | +0.034% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8440 | +0.034% | — | $5.0M | 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 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8460 | +0.064% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8240 | −0.258% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8391 | −0.038% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0007% | 4h | 6.8410 | −0.009% | $95K | $320K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8420 | +0.005% | $1.5M | $150K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8393 | −0.034% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8390 | −0.039% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPERshort | +0.0050% | 1h | 6.8394 | −0.033% | $10.8M | $3.9M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8396 | −0.030% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8395 | −0.031% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8372 | −0.065% | $59K | $52K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8519 | +0.150% | $479K | $23K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8396 | −0.029% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8400 | −0.024% | $266K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8500 | +0.122% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8423 | +0.009% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0117% | 1h | 6.8410 | −0.009% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0329% | 1h | 6.8416 | long leg | $34K | $180K | 20x |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER