Funding you earn now, next payment 05:00 UTC−0.0403%/8h= −44.2% APRpaid last 24h −0.081%
Price spread now: Kraken Futures against Gate+0.130%7-day average +0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs−$528as in the Funding arb table
Net, price: spread back to 7d avg − costs−$121as in the Price arb table
costs, in and out, $10k−$1301.303% of the position
Funding, last 7 days−3.979%−$398 on $10k
+Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.130%, 7d avg +0.038%
=The price spread pays, funding is against you. Kraken Futures is 0.092% dearer against Gate than usual: you sell high and buy low (spread +0.130% now, against its 7-day average of +0.038%): +$9 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−3.979% in total) that is about 4 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate XCU_USDT | 6.8190 | 0 | get 0.0000% / 8h | 3h 15m | $1.3M | $505K | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8279 | −0.0403 | pay 0.0050% / 1h | 15m 21s | $35K | $176K | 20x |
Gate XCU_USDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Gate. 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
- −$84.73
- Price spread: +0.130% → +0.038%
- $9.22
- Slippage, 4 orders
- −$105.34
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$205.85
- Costs to cover
- 1.303%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Kraken Futures: live order book, 37 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 Gate live order book, 2 min ago | 1.47 bp | 23.3 bp −$23 | 96.1 bp −$961 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 37 min ago | 9.16 bp | 25.2 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 | −0.0403% | 1h | 6.8279 | +0.130% | $35K | $176K | 20x | |
| tradeXYZ xyz:COPPER | −0.0056% | 1h | 6.8289 | +0.145% | $10.6M | $4.9M | 20x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8290 | +0.147% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8308 | +0.173% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.176% | $9.1M | $32.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8282 | +0.135% | $489K | $971K | 50x | as long as short |
| Gate XCU_USDTlong | 0.0000% | 8h | 6.8190 | long leg | $1.3M | $505K | 100x | |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8310 | +0.176% | $26.1M | $4.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.176% | $2.5M | $1.7M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8303 | +0.166% | $740K | $1.4M | — | as long as short |
tradeXYZ xyz:COPPER
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
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 | 6.8340 | +0.220% | $97K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8310 | +0.176% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.205% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8140 | −0.073% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8304 | +0.167% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0013% | 4h | 6.8311 | +0.178% | $95K | $319K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8398 | +0.305% | $478K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8300 | +0.161% | $266K | $2.5M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8308 | +0.173% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8325 | +0.198% | $45K | $23K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0050% | 4h | 6.8300 | +0.161% | $88K | $135K | 100x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8293 | +0.151% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8280 | +0.132% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8291 | +0.148% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8304 | +0.167% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8280 | +0.132% | $278K | $35K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8370 | +0.264% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8297 | +0.157% | $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
Lighter XCU
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
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