Funding you earn now, next payment 11:00 UTC+0.0337%/8h= +36.9% APRpaid last 24h −0.004%
Price spread now: Kraken Futures against Phemex+0.091%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$553as in the Funding arb table
Net, price: spread back to 7d avg − costs−$148as in the Price arb table
costs, in and out, $10k−$1571.570% of the position
Funding, last 7 days−3.962%−$396 on $10k
+Price spread, last 4 days (all we have)+0.097%+$10 · spread now +0.091%, 7d avg 0.000%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.091% dearer against Phemex than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of 0.000%. Mind the row above: over the last 7 days funding on this pair cost −3.962%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex COPPERUSDT | 6.8390 | 0 | get 0.0000% / 4h | 1h 43m | $4.2M | $82K | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8452 | 0.0337 | get 0.0042% / 1h | 43m 56s | $34K | $180K | 20x |
Phemex COPPERUSDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. 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
- $70.69
- Price spread: +0.091% → 0.000%
- $9.13
- Slippage, 4 orders
- −$134.96
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$77.14
- Costs to cover
- 1.570%
- Break-even
- 14.6 days
Slippage from Phemex: live order book, 3 min ago; Kraken Futures: live order book, 2 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 Phemex live order book, 3 min ago | 0.73 bp | 54.6 bp −$55 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 5.19 bp | 28.0 bp −$28 | doesn't fit | doesn't fit | doesn't fit |
COPPER on 28 exchanges
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 | −0.0016% | 4h | 6.8450 | +0.088% | $89K | $158K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8452 | +0.091% | $35K | $31K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8440 | +0.073% | $9.0M | $32.0M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8370 | −0.029% | $512K | $807K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8310 | −0.117% | $1.3M | $181K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8430 | +0.058% | $26.3M | $5.6M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8420 | +0.044% | $3.7M | $2.1M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8428 | +0.055% | $774K | $538K | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8465 | +0.110% | $92K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8450 | +0.088% | — | $4.8M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8480 | +0.132% | $61K | $71K | 75x | as long as short |
| Phemex COPPERUSDTlong | 0.0000% | 4h | 6.8390 | long leg | $4.2M | $82K | 100x | |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8425 | +0.051% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0011% | 1h | 6.8420 | +0.044% | $1.5M | $150K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0011% | 4h | 6.8449 | +0.087% | $95K | $321K | 20x | as long as short |
| Lighter XCU | +0.0032% | 1h | 6.8521 | +0.192% | $480K | $25K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8421 | +0.046% | $271K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8417 | +0.039% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8420 | +0.044% | $10.8M | $3.8M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8421 | +0.045% | $906 | $6K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8422 | +0.048% | $2K | $825 | 5x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8432 | +0.061% | $59K | $52K | 15x | as long as short |
| Phoenix COPPER | +0.0093% | 1h | 6.8443 | +0.077% | $44K | $18K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8437 | +0.068% | $24K | $13K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8450 | +0.088% | $267K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8490 | +0.146% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8441 | +0.075% | $313 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0337% | 1h | 6.8452 | +0.091% | $34K | $180K | 20x |
HTX COPPER-USDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Lighter XCU
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Paradex XCU-USD-PERP
Ondo Perps COPPER-USD.P
Phoenix COPPER
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP