Funding you earn now, next payment 08:00 UTC+0.0308%/8h= +33.7% APRnext payment +$0.38 per $10,000 · paid last 24h −0.049%
Price spread now: Kraken Futures against tradeXYZ+0.080%7-day average −0.046% · you sell dearer than you buy
Net, funding: paid 7d − costs−$462as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$730.730% of the position
Funding, last 7 days−3.886%−$389 on $10k
+Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.080%, 7d avg −0.046%
=Together, before fees−4.005%+ Points / potential airdroptradeXYZ: Active · farm board−$401 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Kraken Futures is 0.126% dearer against tradeXYZ than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.046%. Mind the row above: over the last 7 days funding on this pair cost −3.886%, 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 | tradeXYZ xyz:COPPER | 6.8201 | 0.0050 | pay 0.0006% / 1h | 7m 44s | $10.6M | $5.0M | 20x |
| Short | Kraken Futures PF_XCUUSD | 6.8256 | 0.0358 | get 0.0045% / 1h | 7m 44s | $34K | $178K | 20x |
tradeXYZ xyz:COPPER
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against tradeXYZ. 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
- $64.6
- Price spread: +0.080% → −0.046%
- $12.58
- Slippage, 4 orders
- −$44.97
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $4.22
- Costs to cover
- 0.730%
- Break-even
- 6.5 days
Slippage from tradeXYZ: live order book, 11 min ago; Kraken Futures: live order book, 30 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 tradeXYZ live order book, 11 min ago | 0.37 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 30 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 | 6.8260 | +0.087% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8255 | +0.079% | $9.0M | $33.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8194 | −0.010% | $496K | $973K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8110 | −0.133% | $1.3M | $529K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8250 | +0.072% | $26.7M | $5.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | +0.057% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8286 | +0.125% | $766K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8310 | +0.160% | $94K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8290 | +0.130% | — | $6.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8360 | +0.233% | $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 COPPERUSDT | 0.0000% | 4h | 6.8170 | −0.045% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8251 | +0.074% | $178K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0008% | 4h | 6.8300 | +0.145% | $88K | $149K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0014% | 4h | 6.8298 | +0.143% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8290 | +0.130% | $1.5M | $137K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8231 | +0.044% | $274K | $2.0M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8261 | +0.088% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0050% | 1h | 6.8201 | long leg | $10.6M | $5.0M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8232 | +0.045% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8227 | +0.038% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8333 | +0.194% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8224 | +0.034% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8240 | +0.057% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8350 | +0.218% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8278 | +0.113% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0106% | 1h | 6.8258 | +0.084% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0160% | 1h | 6.8354 | +0.224% | $478K | $27K | 20x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0358% | 1h | 6.8256 | +0.080% | $34K | $178K | 20x |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Lighter XCU