Funding you earn now, next payment 12:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.50 per $10,000 · paid last 24h −0.066%
Price spread now: Binance against KuCoin+0.015%7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$211as in the Funding arb table
Net, price: spread back to 7d avg − costs−$155as in the Price arb table
costs, in and out, $10k−$1591.593% of the position
Funding, last 7 days−0.512%−$51 on $10k
+Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.015%, 7d avg −0.025%
=The price spread pays, funding is against you. Binance is 0.040% dearer against KuCoin than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.025%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.512% in total) that is about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin COPPERUSDTM | 6.8320 | 0.0100 | pay 0.0050% / 4h | 2h 55m | $266K | $39K | 50x |
| Short | Binance COPPERUSDT | 6.8330 | 0 | get 0.0000% / 4h | 2h 55m | $9.0M | $33.4M | 100x |
KuCoin COPPERUSDTM
Binance COPPERUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against KuCoin. 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
- −$21
- Price spread: +0.015% → −0.025%
- $3.95
- Slippage, 4 orders
- −$137.31
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$176.36
- Costs to cover
- 1.593%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 26 min ago; Binance: 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 KuCoin live order book, 26 min ago | 10.27 bp | 51.4 bp −$51 | 529.5 bp −$5,295 | doesn't fit | doesn't fit |
| Sell Binance live order book, 1 min ago | 0.73 bp | 7.3 bp −$7 | 13.4 bp −$134 | 108.3 bp −$10.8K | 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 | 6.8342 | +0.033% | $32K | $28K | 50x | as long as short |
| Binance COPPERUSDTshort | 0.0000% | 4h | 6.8330 | +0.015% | $9.0M | $33.4M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8305 | −0.022% | $499K | $891K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8200 | −0.176% | $1.3M | $183K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8330 | +0.015% | $26.0M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | −0.015% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8382 | +0.090% | $765K | $1.3M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8399 | +0.116% | $91K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8330 | +0.015% | — | $5.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8420 | +0.146% | $61K | $54K | 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 | 6.8240 | −0.117% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8323 | +0.004% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0007% | 4h | 6.8379 | +0.086% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8330 | +0.015% | $1.5M | $144K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8287 | −0.048% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8306 | −0.020% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8290 | −0.044% | $10.8M | $4.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8273 | −0.069% | $904 | $6K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8350 | +0.044% | $57K | $55K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8304 | −0.023% | $2K | $1K | 5x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8400 | +0.117% | $89K | $152K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8317 | −0.004% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMlong | +0.0100% | 4h | 6.8320 | long leg | $266K | $39K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8400 | +0.117% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8310 | −0.014% | $312 | — | 10x | as long as short |
| Phoenix COPPER | +0.0129% | 1h | 6.8365 | +0.066% | $45K | $17K | 20x | as long as short |
| Lighter XCU | +0.0136% | 1h | 6.8459 | +0.203% | $479K | $23K | 20x | as long as short |
| Kraken Futures PF_XCUUSD | +0.0330% | 1h | 6.8314 | −0.009% | $34K | $178K | 20x | as long as short |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
BloFin COPPER-USDT
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Lighter XCU
Kraken Futures PF_XCUUSD