Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h −0.063%

Price spread now: Kraken Futures against Paradex−0.038%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Kraken Futures is 0.038% cheaper against Paradex than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XCU-USD-PERP	6.8234	0.0050	pay 0.0050% / 8h	5m 52s	$2K	$1K	5x
Short	Kraken Futures PF_XCUUSD	6.8208	0.0358	get 0.0045% / 1h	5m 52s	$34K	$178K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Paradex. 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 ParadexbpFee Kraken FuturesbpOrdersPrice spread, now −0.038%Rate

Funding earned: $64.65
Price spread: −0.038% → 0.000%: −$3.77
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $46.88
Costs to cover: 0.140%
Break-even: 1.9 days

Slippage unknown: Paradex: no order-book sample; Kraken Futures: live order book, 32 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 32 min ago	5.57 bp	22.6 bp −$23	doesn't fit	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	6.8271	+0.055%	$32K	$28K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8260	+0.039%	$9.0M	$33.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8193	−0.060%	$496K	$974K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8100	−0.196%	$1.3M	$529K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8250	+0.024%	$26.7M	$5.3M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8250	+0.024%	$2.9M	$1.6M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8246	+0.018%	$765K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8310	+0.112%	$94K	$2.4M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8260	+0.039%	—	$6.0M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8360	+0.185%	$61K	$24K	75x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex COPPERUSDT	0.0000%	4h	6.8150	−0.123%	$4.2M	$83K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8209	−0.036%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0014%	4h	6.8298	+0.095%	$95K	$318K	20x	as long as short
QFEX COPPER-USD	+0.0017%	1h	6.8230	−0.005%	$1.5M	$140K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8233	0.000%	$274K	$2.0M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8216	−0.026%	—	$82K	25x	as long as short
BloFin COPPER-USDT	+0.0047%	4h	6.8270	+0.053%	$88K	$144K	100x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8203	−0.045%	$10.6M	$5.0M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8196	−0.055%	$4K	$5K	20x	as long as short
Paradex XCU-USD-PERPlong	+0.0050%	8h	6.8234	long leg	$2K	$1K	5x
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8333	+0.146%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8233	−0.001%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8240	+0.009%	$278K	$36K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8310	+0.112%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8237	+0.005%	$312	—	10x	as long as short
Phoenix COPPER	+0.0106%	1h	6.8258	+0.036%	$45K	$22K	20x	as long as short
Lighter XCU	+0.0152%	1h	6.8349	+0.169%	$478K	$27K	20x	as long as short
Kraken Futures PF_XCUUSDshort	+0.0358%	1h	6.8208	−0.038%	$34K	$178K	20x