Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.066%
Price spread now: Binance against KuCoin+0.058%7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$166as in the Funding arb table
Net, price: spread back to 7d avg − costs−$106as in the Price arb table
costs, in and out, $10k−$1141.145% of the position
Funding, last 7 days−0.512%−$51 on $10k
+Price spread, last 4 days (all we have)−0.088%−$9 · spread now +0.058%, 7d avg −0.025%
=The price spread pays, funding is against you. Binance is 0.083% dearer against KuCoin than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of −0.025%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.8 days. At the pace of the last 7 days (−0.512% in total) that is about 27 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin COPPERUSDTM | 6.8410 | 0.0100 | pay 0.0050% / 4h | 2h 17m | $267K | $39K | 50x |
| Short | Binance COPPERUSDT | 6.8450 | 0 | get 0.0000% / 4h | 2h 17m | $9.0M | $32.1M | 100x |
KuCoin COPPERUSDTM
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against KuCoin. 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
- −$21
- Price spread: +0.058% → −0.025%
- $8.3
- Slippage, 4 orders
- −$92.46
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$127.16
- Costs to cover
- 1.145%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 25 min ago; Binance: live order book, 2 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 KuCoin live order book, 25 min ago | 13.16 bp | 46.6 bp −$47 | 502.6 bp −$5,026 | doesn't fit | doesn't fit |
| Sell Binance live order book, 2 min ago | 0.73 bp | 6.4 bp −$6 | 10.3 bp −$103 | 77.3 bp −$7,732 | 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 | −0.0015% | 4h | 6.8430 | +0.029% | $89K | $155K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8434 | +0.036% | $35K | $47K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8450 | +0.058% | $9.0M | $32.1M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8391 | −0.028% | $503K | $843K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8290 | −0.175% | $1.3M | $184K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8440 | +0.044% | $26.5M | $5.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8450 | +0.058% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8401 | −0.013% | $767K | $549K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8412 | +0.003% | $87K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8430 | +0.029% | — | $5.0M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
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 | +0.073% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8250 | −0.234% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8388 | −0.033% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0016% | 4h | 6.8417 | +0.010% | $95K | $320K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8420 | +0.015% | $1.5M | $150K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8409 | −0.001% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8384 | −0.038% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8395 | −0.022% | $10.8M | $3.9M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8417 | +0.010% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8391 | −0.027% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8367 | −0.063% | $59K | $52K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8534 | +0.181% | $480K | $23K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8388 | −0.033% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMlong | +0.0100% | 4h | 6.8410 | long leg | $267K | $39K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8500 | +0.132% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8435 | +0.037% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0117% | 1h | 6.8398 | −0.018% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0329% | 1h | 6.8417 | +0.010% | $34K | $180K | 20x | as long as short |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
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
Lighter XCU
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Kraken Futures PF_XCUUSD