Funding you earn now, next payment 06:00 UTC−0.0480%/8h= −52.6% APRnext payment −$0.60 per $10,000 · paid last 24h −0.070%
Price spread now: Kraken Futures against QFEX−0.057%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$590.594% of the position
Funding, last 4 days (all we have)−3.557%−$356 on $10k
+Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.057%, 7d avg −0.028%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.029% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.028%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX COPPER-USD | 6.8200 | −0.0001 | get 0.0000% / 1h | 30m 29s | $1.5M | $130K | 20x |
| Short | Kraken Futures PF_XCUUSD | 6.8161 | −0.0481 | pay 0.0060% / 1h | 30m 29s | $34K | $176K | 20x |
QFEX COPPER-USD
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against QFEX. 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
- −$100.89
- Price spread: −0.057% → −0.028%
- −$2.88
- Slippage, 4 orders
- −$39.39
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$163.16
- Costs to cover
- 0.594%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 6 min ago; Kraken Futures: live order book, 17 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 QFEX live order book, 6 min ago | 2.93 bp | 7.9 bp −$8 | 12.2 bp −$122 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 17 min ago | 5.49 bp | 23.9 bp −$24 | 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 | −0.0481% | 1h | 6.8161 | −0.057% | $34K | $176K | 20x | |
| tradeXYZ xyz:COPPER | −0.0020% | 1h | 6.8176 | −0.035% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USDlong | −0.0001% | 1h | 6.8200 | long leg | $1.5M | $130K | 20x | |
| Aster XCUUSDT | 0.0000% | 4h | 6.8210 | +0.015% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8200 | 0.000% | $9.2M | $33.2M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8181 | −0.028% | $490K | $965K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8060 | −0.205% | $1.3M | $525K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8200 | 0.000% | $26.3M | $4.7M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8190 | −0.015% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8164 | −0.052% | $739K | $1.4M | — | as long as short |
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
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 | 6.8177 | −0.034% | $95K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8170 | −0.044% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8200 | 0.000% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.073% | $4.2M | $80K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8201 | +0.001% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0005% | 4h | 6.8184 | −0.023% | $94K | $319K | 20x | as long as short |
| Phoenix COPPER | +0.0023% | 1h | 6.8192 | −0.012% | $45K | $23K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8297 | +0.142% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8205 | +0.007% | $276K | $2.4M | 20x | as long as short |
| BloFin COPPER-USDT | +0.0039% | 4h | 6.8170 | −0.044% | $88K | $137K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8201 | +0.001% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8193 | −0.010% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8158 | −0.062% | $903 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8156 | −0.065% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8206 | +0.009% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8190 | −0.015% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8240 | +0.059% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8167 | −0.048% | $312 | — | 10x | as long as short |
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
Phoenix COPPER
Lighter XCU
Extended XCU-USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP