Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.062%
Price spread now: Gate against KuCoin−0.220%7-day average −0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$226as in the Funding arb table
Net, price: spread back to 7d avg − costs−$215as in the Price arb table
costs, in and out, $10k−$2032.029% of the position
Funding, last 7 days−0.232%−$23 on $10k
+Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.220%, 7d avg −0.103%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.117% cheaper against KuCoin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.103%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin COPPERUSDTM | 6.8110 | 0.0100 | pay 0.0050% / 4h | 2h 58m | $258K | $25K | 50x |
| Short | Gate XCU_USDT | 6.7960 | 0 | get 0.0000% / 8h | 6h 58m | $1.3M | $477K | 100x |
KuCoin COPPERUSDTM
Gate XCU_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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: −0.220% → −0.103%
- −$11.74
- Slippage, 4 orders
- −$175.85
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$235.59
- Costs to cover
- 2.029%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 52 min ago; Gate: live order book, 4 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, 52 min ago | 5.88 bp | 71.1 bp −$71 | 709.7 bp −$7,097 | doesn't fit | doesn't fit |
| Sell Gate live order book, 4 min ago | 1.47 bp | 24.1 bp −$24 | 219.6 bp −$2,196 | 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_XCUUSD | −0.1013% | 1h | 6.8085 | −0.037% | $32K | $178K | 20x | as long as short |
| tradeXYZ xyz:COPPER | −0.0149% | 1h | 6.8046 | −0.094% | $10.4M | $5.0M | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8109 | −0.002% | $32K | $35K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8072 | −0.056% | $9.1M | $33.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8050 | −0.088% | $472K | $951K | 50x | as long as short |
| Gate XCU_USDTshort | 0.0000% | 8h | 6.7960 | −0.220% | $1.3M | $477K | 100x | |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8070 | −0.059% | $26.9M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | −0.015% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | −0.025% | $742K | $1.5M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8123 | +0.019% | $97K | $2.1M | 25x | as long as short |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPER
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8100 | −0.015% | — | $7.1M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8170 | +0.088% | $61K | $26K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.294% | $4.2M | $75K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8069 | −0.060% | $177K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0004% | 4h | 6.8107 | −0.005% | $94K | $319K | 20x | as long as short |
| QFEX COPPER-USD | +0.0006% | 1h | 6.8110 | 0.000% | $1.5M | $129K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0016% | 4h | 6.8090 | −0.029% | $87K | $149K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8079 | −0.046% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8125 | +0.022% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8044 | −0.097% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8114 | +0.006% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0064% | 1h | 6.8176 | +0.097% | $477K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8115 | +0.007% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTMlong | +0.0100% | 4h | 6.8110 | long leg | $258K | $25K | 50x | |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8160 | +0.073% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8082 | −0.042% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8087 | −0.034% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0392% | 1h | 6.8057 | −0.077% | $231K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD