Funding you earn now, next payment 01:00 UTC−0.0448%/8h= −49.0% APRpaid last 24h −0.156%
Price spread now: Kraken Futures against OKX−0.167%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$447as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$580.584% of the position
Funding, last 7 days−3.889%−$389 on $10k
+Price spread, last 3 days (all we have)+0.228%+$23 · spread now −0.167%, 7d avg −0.011%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Kraken Futures is 0.156% cheaper against OKX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.011%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX XCU-USDT-SWAP | 6.8051 | 0 | get 0.0000% / 8h | 7h 28m | $470K | $982K | 50x |
| Short | Kraken Futures PF_XCUUSD | 6.7937 | −0.0448 | pay 0.0056% / 1h | 28m 55s | $28K | $174K | 20x |
OKX XCU-USDT-SWAP
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against OKX. 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
- −$94.06
- Price spread: −0.167% → −0.011%
- −$15.62
- Slippage, 4 orders
- −$38.4
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$168.08
- Costs to cover
- 0.584%
- Break-even
- never at this rate
Slippage from OKX: live order book, 32 min ago; Kraken Futures: live order book, 43 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 OKX live order book, 32 min ago | 0.74 bp | 13.0 bp −$13 | 28.0 bp −$280 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 43 min ago | 0.29 bp | 25.0 bp −$25 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XCUUSDshort | −0.0448% | 1h | 6.7937 | −0.167% | $28K | $174K | 20x | |
| edgeX COPPERUSDC | −0.0001% | 4h | 6.8045 | −0.009% | $94K | $319K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8072 | +0.030% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8061 | +0.014% | $9.1M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAPlong | 0.0000% | 8h | 6.8051 | long leg | $470K | $982K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.7930 | −0.178% | $1.3M | $492K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8060 | +0.013% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8070 | +0.028% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8044 | −0.010% | $741K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8068 | +0.025% | $87K | $2.1M | 25x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8060 | +0.013% | — | $7.2M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8120 | +0.101% | $60K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.207% | $4.2M | $77K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8041 | −0.015% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0004% | 1h | 6.8040 | −0.016% | $1.5M | $137K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0022% | 1h | 6.8007 | −0.065% | $10.4M | $5.0M | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8151 | +0.147% | $477K | $45K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8034 | −0.025% | — | $82K | 25x | as long as short |
| BloFin COPPER-USDT | +0.0049% | 4h | 6.8050 | −0.001% | $87K | $149K | 100x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8073 | +0.032% | $1K | $3K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8048 | −0.004% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8065 | +0.021% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8048 | −0.005% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8050 | −0.001% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8130 | +0.116% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8055 | +0.006% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8042 | −0.013% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0376% | 1h | 6.8049 | −0.003% | $230K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
tradeXYZ xyz:COPPER
Lighter XCU
Vest HG-PERP
BloFin COPPER-USDT
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD