COPPER

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1017%/8h= +111.3% APRnext payment +$1.27 per $10,000 · paid last 24h +0.139%

Price spread now: gTrade (Gains Network) against Kraken Futures+0.005%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$503as in the Price arb table

costs, in and out, $10k−$4974.968% of the position

Long on Kraken Futures Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 1 day (all we have)+0.180%+$18 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now +0.005%, 7d avg +0.070%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. gTrade (Gains Network) is 0.065% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.070%). If the spread goes back, that is −$7 on $10k: about 5 hours of funding at the current rate (+$31 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XCUUSD	6.7921	−0.1015	get 0.0127% / 1h	37m 07s	$32K	$176K	20x
Short	gTrade (Gains Network) HG/USD	6.7924	L +0.0002% / S −0.0001%	get 0.0000% / 1h	37m 07s	$176K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.005%Rate

Funding earned: $213.51
Price spread: +0.005% → +0.070%: −$6.53
Slippage, 4 orders: −$476.83
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$289.85
Costs to cover: 4.968%
Break-even: 16.5 days

Slippage from Kraken Futures: live order book, 30 min ago; gTrade (Gains Network): virtual book (oracle venue), 62 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, 30 min ago	11.67 bp	29.1 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 62 min ago	130.01 bp	213.6 bp −$214	1617.5 bp −$16.2K	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_XCUUSDlong	−0.1015%	1h	6.7921	long leg	$32K	$176K	20x
tradeXYZ xyz:COPPER	−0.0139%	1h	6.7891	−0.044%	$10.4M	$4.8M	20x	as long as short
BloFin COPPER-USDT	−0.0051%	4h	6.8050	+0.190%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7945	+0.036%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7940	+0.028%	$9.1M	$32.2M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7927	+0.009%	$472K	$940K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7790	−0.193%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7930	+0.013%	$26.0M	$5.0M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7960	+0.057%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7974	+0.079%	$741K	$1.4M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8012	+0.134%	$95K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.7950	+0.043%	—	$6.9M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7980	+0.087%	$61K	$26K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7900	−0.031%	$4.2M	$74K	100x	as long as short
gTrade (Gains Network) HG/USDshort	L +0.0002% / S −0.0001%	1h	6.7924	+0.005%	$176K	—	250x
QFEX COPPER-USD	+0.0006%	1h	6.7940	+0.028%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0016%	4h	6.7986	+0.096%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7970	+0.072%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7932	+0.016%	—	$82K	25x	as long as short
Lighter XCU	+0.0048%	1h	6.8045	+0.182%	$476K	$39K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7953	+0.046%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7918	−0.005%	$899	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7986	+0.096%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7945	+0.035%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7950	+0.043%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8000	+0.116%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7929	+0.012%	$311	—	10x	as long as short
Extended XCU-USD	+0.0416%	1h	6.7924	+0.004%	$230K	$2.9M	20x	as long as short