Funding you earn now, next payment 07:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h −0.025%
Price spread now: Kraken Futures against Binance−0.040%7-day average −0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$423as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$530.526% of the position
Funding, last 7 days−3.703%−$370 on $10k
+Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.040%, 7d avg −0.031%
=The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −3.703%, 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 | Binance COPPERUSDT | 6.8127 | 0 | get 0.0000% / 4h | 1h 42m | $9.2M | $33.6M | 100x |
| Short | Kraken Futures PF_XCUUSD | 6.8100 | 0.0108 | get 0.0013% / 1h | 42m 16s | $34K | $176K | 20x |
Binance COPPERUSDT
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Binance. 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
- $22.59
- Price spread: −0.040% → −0.031%
- −$0.86
- Slippage, 4 orders
- −$32.62
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$30.89
- Costs to cover
- 0.526%
- Break-even
- 16.6 days
Slippage from Binance: live order book, 14 min ago; Kraken Futures: live order book, 65 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 Binance live order book, 14 min ago | 0.73 bp | 5.7 bp −$6 | 10.2 bp −$102 | 56.2 bp −$5,625 | doesn't fit |
| Sell Kraken Futures live order book, 65 min ago | 5.49 bp | 23.9 bp −$24 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8126 | −0.003% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDTlong | 0.0000% | 4h | 6.8127 | long leg | $9.2M | $33.6M | 100x | |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8093 | −0.050% | $497K | $971K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8010 | −0.172% | $1.3M | $521K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8120 | −0.011% | $26.3M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8110 | −0.025% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8113 | −0.021% | $735K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8140 | +0.019% | $90K | $2.3M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.004% | — | $6.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8160 | +0.048% | $61K | $24K | 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 | 6.8130 | +0.004% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8084 | −0.064% | $178K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8130 | +0.004% | $1.5M | $130K | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0009% | 1h | 6.8057 | −0.103% | $10.6M | $5.0M | 20x | as long as short |
| edgeX COPPERUSDC | +0.0020% | 4h | 6.8130 | +0.004% | $94K | $320K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8093 | −0.050% | $276K | $2.3M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8090 | −0.055% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8114 | −0.020% | $45K | $22K | 20x | as long as short |
| Lighter XCU | +0.0048% | 1h | 6.8215 | +0.129% | $477K | $41K | 20x | as long as short |
| BloFin COPPER-USDT | +0.0049% | 4h | 6.8130 | +0.004% | $88K | $139K | 100x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8114 | −0.019% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8079 | −0.071% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8161 | +0.049% | $57K | $55K | 15x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8099 | −0.042% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8110 | −0.025% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8200 | +0.107% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8122 | −0.008% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0108% | 1h | 6.8100 | −0.040% | $34K | $176K | 20x |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
tradeXYZ xyz:COPPER
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Lighter XCU
BloFin COPPER-USDT
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP