Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.085%
Price spread now: Bitget against KuCoin+0.029%7-day average −0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$218as in the Funding arb table
Net, price: spread back to 7d avg − costs−$166as in the Price arb table
costs, in and out, $10k−$1711.706% of the position
Funding, last 7 days−0.475%−$47 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.029%, 7d avg −0.022%
=The price spread pays, funding is against you. Bitget is 0.051% dearer against KuCoin than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of −0.022%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.475% in total) that is about 18 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin COPPERUSDTM | 6.8050 | 0.0100 | pay 0.0050% / 4h | 3h 37m | $258K | $25K | 50x |
| Short | Bitget COPPERUSDT | 6.8070 | 0 | get 0.0000% / 4h | 3h 37m | $1.7M | $1.0M | 100x |
KuCoin COPPERUSDTM
Bitget COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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: +0.029% → −0.022%
- $5.1
- Slippage, 4 orders
- −$146.63
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$186.53
- Costs to cover
- 1.706%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 13 min ago; Bitget: live order book, 4 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, 13 min ago | 5.88 bp | 71.1 bp −$71 | 709.7 bp −$7,097 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 0.74 bp | 13.2 bp −$13 | 29.3 bp −$293 | 107.6 bp −$10.8K | 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_XCUUSD | −0.0448% | 1h | 6.7929 | −0.177% | $28K | $174K | 20x | as long as short |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.8042 | −0.011% | $94K | $318K | 20x | as long as short |
| BloFin COPPER-USDT | −0.0007% | 4h | 6.8050 | 0.000% | $87K | $150K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8063 | +0.019% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8060 | +0.014% | $9.1M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8022 | −0.041% | $470K | $987K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7930 | −0.176% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8050 | 0.000% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDTshort | 0.0000% | 4h | 6.8070 | +0.029% | $1.7M | $1.0M | 100x | |
| Variational Omni COPPER | 0.0000% | 4h | 6.8024 | −0.038% | $741K | $1.6M | — | as long as short |
Kraken Futures PF_XCUUSD
edgeX COPPERUSDC
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Variational Omni COPPERShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8056 | +0.009% | $87K | $2.1M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8050 | 0.000% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8070 | +0.029% | $60K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7900 | −0.220% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8041 | −0.013% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8040 | −0.015% | $1.5M | $139K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8034 | −0.024% | — | $82K | 25x | as long as short |
| Lighter XCU | +0.0048% | 1h | 6.8156 | +0.156% | $477K | $45K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8055 | +0.008% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8020 | −0.044% | $10.4M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8038 | −0.018% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8063 | +0.019% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8051 | +0.002% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMlong | +0.0100% | 4h | 6.8050 | long leg | $258K | $25K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8100 | +0.073% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8047 | −0.005% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8021 | −0.043% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0360% | 1h | 6.8042 | −0.011% | $228K | $2.9M | 20x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
Vest HG-PERP
Lighter XCU
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD