Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h +0.065%

Price spread now: Gate against Kraken Futures−0.163%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs+$273as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1271.272% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+3.998%+$400 on $10k

Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.163%, 7d avg −0.041%

Together, before fees+4.074%+$407 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.122% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.041%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.998%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XCUUSD	6.8111	0.0108	pay 0.0013% / 1h	41m 17s	$34K	$176K	20x
Short	Gate XCU_USDT	6.8000	0	get 0.0000% / 8h	1h 41m	$1.3M	$521K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.163%Rate

Funding earned: −$22.59
Price spread: −0.163% → −0.041%: −$12.21
Slippage, 4 orders: −$102.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$162.04
Costs to cover: 1.272%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	3.38 bp	23.8 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.47 bp	50.9 bp −$51	236.9 bp −$2,369	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
BloFin COPPER-USDT	−0.0052%	4h	6.8130	+0.028%	$88K	$139K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8158	+0.068%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8140	+0.042%	$9.2M	$33.6M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8093	−0.027%	$497K	$971K	50x	as long as short
Gate XCU_USDTshort	0.0000%	8h	6.8000	−0.163%	$1.3M	$521K	100x
MEXC COPPER_USDT	0.0000%	4h	6.8120	+0.013%	$26.3M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8130	+0.028%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8113	+0.003%	$735K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8150	+0.057%	$90K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8140	+0.042%	—	$6.4M	20x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDT	0.0000%	4h	6.8160	+0.072%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8130	+0.028%	$4.2M	$82K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8110	−0.002%	$178K	—	250x	as long as short
QFEX COPPER-USD	+0.0003%	1h	6.8120	+0.013%	$1.5M	$130K	20x	as long as short
tradeXYZ xyz:COPPER	+0.0007%	1h	6.8085	−0.039%	$10.6M	$5.0M	20x	as long as short
edgeX COPPERUSDC	+0.0020%	4h	6.8130	+0.028%	$94K	$320K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8120	+0.013%	$276K	$2.3M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8099	−0.018%	—	$82K	25x	as long as short
Phoenix COPPER	+0.0047%	1h	6.8100	−0.017%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0048%	1h	6.8226	+0.168%	$477K	$41K	20x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8104	−0.010%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8098	−0.019%	$4K	$5K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8161	+0.073%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8091	−0.029%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8130	+0.028%	$278K	$37K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8200	+0.130%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8132	+0.031%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSDlong	+0.0108%	1h	6.8111	long leg	$34K	$176K	20x