Funding you earn now, next payment 08:00 UTC+0.0358%/8h= +39.2% APRpaid last 24h −0.053%
Price spread now: Kraken Futures against Phemex+0.037%7-day average −0.008% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−3.965%−$396 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now +0.037%, 7d avg −0.008%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.045% dearer against Phemex than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.008%. Mind the row above: over the last 7 days funding on this pair cost −3.965%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8150 | 0 | get 0.0000% / 4h | 15m 18s | $4.2M | $83K | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8176 | 0.0358 | get 0.0045% / 1h | 15m 18s | $34K | $178K | 20x |
Phemex COPPERUSDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- $75.19
- Price spread: +0.037% → −0.008%
- $4.52
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $57.71
- Costs to cover
- 0.220%
- Break-even
- 1.6 days
Slippage unknown: Phemex: live order book, 4 min ago; Kraken Futures: live order book, 22 min ago. Net counts fees only.
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 Phemex live order book, 4 min ago | 0.73 bp | 64.0 bp −$64 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 22 min ago | 5.57 bp | 22.6 bp −$23 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8229 | +0.115% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8230 | +0.117% | $9.0M | $33.7M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8157 | +0.010% | $494K | $983K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8070 | −0.117% | $1.3M | $528K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8220 | +0.103% | $26.6M | $5.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8210 | +0.088% | $2.9M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8214 | +0.095% | $765K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8273 | +0.181% | $86K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8220 | +0.103% | — | $6.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8240 | +0.132% | $61K | $24K | 75x | as long as short |
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-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8150 | long leg | $4.2M | $83K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8179 | +0.043% | $178K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0009% | 4h | 6.8210 | +0.088% | $88K | $148K | 100x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8210 | +0.088% | $1.5M | $134K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0019% | 4h | 6.8222 | +0.106% | $95K | $320K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8180 | +0.044% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8173 | +0.034% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8170 | +0.029% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8187 | +0.055% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8278 | +0.188% | $57K | $55K | 15x | as long as short |
| Extended XCU-USD | +0.0096% | 1h | 6.8178 | +0.042% | $274K | $2.0M | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8184 | +0.050% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8200 | +0.073% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8270 | +0.176% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8214 | +0.094% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0106% | 1h | 6.8239 | +0.131% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0176% | 1h | 6.8316 | +0.244% | $478K | $27K | 20x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0358% | 1h | 6.8176 | +0.037% | $34K | $178K | 20x |
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
QFEX COPPER-USD
edgeX COPPERUSDC
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Extended XCU-USD
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Lighter XCU