Funding you earn now, next payment 03:00 UTC+0.0145%/8h= +15.9% APRnext payment +$0.18 per $10,000 · paid last 24h −0.119%
Price spread now: Kraken Futures against tradeXYZ−0.005%7-day average −0.050% · you buy dearer than you sell
Net, funding: paid 7d − costs−$455as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$680.685% of the position
Funding, last 7 days−3.864%−$386 on $10k
+Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.005%, 7d avg −0.050%
=Together, before fees−3.849%+ Points / potential airdroptradeXYZ: Active · farm board−$385 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.045% dearer against tradeXYZ than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −3.864%, 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 | tradeXYZ xyz:COPPER | 6.8277 | 0.0050 | pay 0.0006% / 1h | 1m 05s | $10.5M | $4.8M | 20x |
| Short | Kraken Futures PF_XCUUSD | 6.8274 | 0.0195 | get 0.0024% / 1h | 1m 05s | $35K | $178K | 20x |
tradeXYZ xyz:COPPER
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against tradeXYZ. 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
- $30.45
- Price spread: −0.005% → −0.050%
- $4.54
- Slippage, 4 orders
- −$40.49
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$33.5
- Costs to cover
- 0.685%
- Break-even
- 14.7 days
Slippage from tradeXYZ: live order book, 8 min ago; Kraken Futures: live order book, 61 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 tradeXYZ live order book, 8 min ago | 0.59 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 61 min ago | 5.13 bp | 28.8 bp −$29 | doesn't fit | 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 | −0.0001% | 4h | 6.8290 | +0.019% | $88K | $143K | 100x | as long as short |
| QFEX COPPER-USD | 0.0000% | 1h | 6.8290 | +0.019% | $1.5M | $129K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8288 | +0.016% | $32K | $21K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.048% | $9.0M | $32.5M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8238 | −0.057% | $471K | $946K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8100 | −0.259% | $1.3M | $493K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8300 | +0.034% | $26.0M | $4.2M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8310 | +0.048% | $1.7M | $986K | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8291 | +0.021% | $743K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8299 | +0.033% | $86K | $2.1M | 25x | as long as short |
BloFin COPPER-USDT
QFEX COPPER-USD
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
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 | 6.8300 | +0.034% | — | $6.7M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8300 | +0.034% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8150 | −0.186% | $4.2M | $76K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8263 | −0.020% | $178K | — | 250x | as long as short |
| Phoenix COPPER | +0.0012% | 1h | 6.8301 | +0.035% | $45K | $23K | 20x | as long as short |
| edgeX COPPERUSDC | +0.0018% | 4h | 6.8295 | +0.027% | $95K | $319K | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8256 | −0.031% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8277 | 0.000% | $2K | $2K | 5x | as long as short |
| tradeXYZ xyz:COPPERlong | +0.0050% | 1h | 6.8277 | long leg | $10.5M | $4.8M | 20x | |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8272 | −0.007% | $904 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8296 | +0.028% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0088% | 1h | 6.8381 | +0.152% | $478K | $39K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8297 | +0.029% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8290 | +0.019% | $258K | $21K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8360 | +0.122% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8281 | +0.006% | $312 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0195% | 1h | 6.8274 | −0.005% | $35K | $178K | 20x | |
| Extended XCU-USD | +0.0840% | 1h | 6.8266 | −0.016% | $224K | $2.8M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
Phoenix COPPER
edgeX COPPERUSDC
Vest HG-PERP
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Extended XCU-USD