Funding you earn now, next payment 05:00 UTC+0.0404%/8h= +44.2% APRpaid last 24h +0.041%
Price spread now: Binance against Kraken Futures+0.071%7-day average +0.031% · you sell dearer than you buy
Net, funding: paid 7d − costs+$307as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$620.617% of the position
Funding, last 7 days+3.683%+$368 on $10k
+Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.071%, 7d avg +0.031%
=Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Binance is 0.040% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.031%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_XCUUSD | 6.8211 | −0.0404 | get 0.0050% / 1h | 43m 46s | $34K | $176K | 20x |
| Short | Binance COPPERUSDT | 6.8260 | 0 | get 0.0000% / 4h | 3h 43m | $9.1M | $33.0M | 100x |
Kraken Futures PF_XCUUSD
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Kraken Futures. 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
- $84.82
- Price spread: +0.071% → +0.031%
- $3.98
- Slippage, 4 orders
- −$41.7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $27.1
- Costs to cover
- 0.617%
- Break-even
- 4.8 days
Slippage from Kraken Futures: live order book, 9 min ago; Binance: live order book, 13 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 Kraken Futures live order book, 9 min ago | 9.16 bp | 25.1 bp −$25 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 0.73 bp | 5.7 bp −$6 | 8.2 bp −$82 | 75.7 bp −$7,565 | 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_XCUUSDlong | −0.0404% | 1h | 6.8211 | long leg | $34K | $176K | 20x | |
| tradeXYZ xyz:COPPER | −0.0081% | 1h | 6.8233 | +0.032% | $10.5M | $4.8M | 20x | as long as short |
| BloFin COPPER-USDT | −0.0047% | 4h | 6.8280 | +0.100% | $88K | $144K | 100x | as long as short |
| QFEX COPPER-USD | −0.0003% | 1h | 6.8250 | +0.056% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8270 | +0.086% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8260 | +0.071% | $9.1M | $33.0M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8245 | +0.049% | $481K | $961K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8060 | −0.222% | $1.3M | $497K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8260 | +0.071% | $25.9M | $4.3M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8240 | +0.042% | $2.5M | $1.7M | 100x | as long as short |
tradeXYZ xyz:COPPER
BloFin COPPER-USDT
QFEX COPPER-USD
Aster XCUUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni COPPER | 0.0000% | 4h | 6.8273 | +0.090% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8252 | +0.059% | $88K | $2.2M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8250 | +0.056% | — | $6.6M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8300 | +0.130% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8140 | −0.105% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8255 | +0.064% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8281 | +0.102% | $95K | $320K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8355 | +0.210% | $477K | $40K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8256 | +0.066% | $266K | $2.6M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8262 | +0.074% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8269 | +0.084% | $45K | $23K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8237 | +0.038% | $2K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8235 | +0.034% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8302 | +0.133% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8263 | +0.076% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8260 | +0.071% | $291K | $32K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8310 | +0.144% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8240 | +0.042% | $312 | — | 10x | as long as short |
Variational Omni COPPER
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
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP