Funding you earn now, next payment 08:00 UTC+0.0358%/8h= +39.2% APRpaid last 24h −0.012%
Price spread now: Kraken Futures against Binance−0.050%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$434as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$640.639% of the position
Funding, last 7 days−3.705%−$371 on $10k
+Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.050%, 7d avg −0.031%
=The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −3.705%, 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 | Binance COPPERUSDT | 6.8290 | 0 | get 0.0000% / 4h | 8m 32s | $9.0M | $33.5M | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8256 | 0.0358 | get 0.0045% / 1h | 8m 32s | $34K | $178K | 20x |
Binance COPPERUSDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $75.1
- Price spread: −0.050% → −0.031%
- −$1.91
- Slippage, 4 orders
- −$43.88
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $9.31
- Costs to cover
- 0.639%
- Break-even
- 6.1 days
Slippage from Binance: live order book, 3 min ago; Kraken Futures: live order book, 29 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 Binance live order book, 3 min ago | 0.73 bp | 6.1 bp −$6 | 10.2 bp −$102 | 49.1 bp −$4,907 | doesn't fit |
| Sell Kraken Futures live order book, 29 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 | 6.8304 | +0.021% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8290 | long leg | $9.0M | $33.5M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8240 | −0.073% | $496K | $975K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8130 | −0.234% | $1.3M | $529K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8290 | 0.000% | $26.7M | $5.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8280 | −0.015% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8286 | −0.005% | $766K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8310 | +0.029% | $94K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8290 | 0.000% | — | $6.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.059% | $61K | $24K | 75x | as long as short |
Aster XCUUSDT
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 | 6.8180 | −0.161% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8261 | −0.042% | $178K | — | 250x | as long as short |
| BloFin COPPER-USDT | +0.0008% | 4h | 6.8300 | +0.015% | $88K | $149K | 100x | as long as short |
| edgeX COPPERUSDC | +0.0014% | 4h | 6.8298 | +0.012% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0017% | 1h | 6.8290 | 0.000% | $1.5M | $137K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8265 | −0.037% | $274K | $2.0M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8261 | −0.042% | — | $82K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8238 | −0.076% | $10.6M | $5.0M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8237 | −0.078% | $4K | $5K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8271 | −0.028% | $2K | $1K | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8333 | +0.063% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8270 | −0.029% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8270 | −0.029% | $278K | $36K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8360 | +0.103% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8287 | −0.005% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0106% | 1h | 6.8258 | −0.047% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0160% | 1h | 6.8386 | +0.141% | $479K | $27K | 20x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0358% | 1h | 6.8256 | −0.050% | $34K | $178K | 20x |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
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