Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0312%/8h= +34.2% APRpaid last 24h −0.181%

Price spread now: Kraken Futures against HTX−0.178%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−3.910%−$391 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Kraken Futures is 0.178% cheaper against HTX than usual: you would sell low and buy high (spread −0.178% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 46 hours of funding at the current rate (+$9 a day). Mind the row above: over the last 7 days funding on this pair cost −3.910%, 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	HTX COPPER-USDT	6.8030	0	get 0.0000% / 4h	38m 37s	$60K	$27K	75x
Short	Kraken Futures PF_XCUUSD	6.7909	0.0312	get 0.0039% / 1h	38m 37s	$28K	$173K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now −0.178%Rate

Funding earned: $65.59
Price spread: −0.178% → 0.000%: −$17.84
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $25.75
Costs to cover: 0.220%
Break-even: 4.3 days

Slippage unknown: HTX: no order-book sample; Kraken Futures: live order book, 39 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 HTX no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 39 min ago	2.21 bp	25.0 bp −$25	doesn't fit	doesn't fit	doesn't fit

HTX: 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
BloFin COPPER-USDT	−0.0057%	4h	6.7980	−0.073%	$87K	$149K	100x	as long as short
edgeX COPPERUSDC	−0.0001%	4h	6.7970	−0.087%	$93K	$317K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.7965	−0.095%	$32K	$36K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.7962	−0.100%	$9.0M	$34.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7942	−0.129%	$467K	$1.2M	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7840	−0.279%	$1.3M	$493K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.7960	−0.103%	$26.9M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.7970	−0.088%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7967	−0.093%	$739K	$1.6M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8000	−0.044%	$91K	$2.2M	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX COPPER-USDT	0.0000%	4h	6.7960	−0.103%	—	$7.6M	20x	as long as short
HTX COPPER-USDTlong	0.0000%	4h	6.8030	long leg	$60K	$27K	75x
Phemex COPPERUSDT	0.0000%	4h	6.7900	−0.191%	$4.2M	$80K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.7934	−0.141%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0013%	1h	6.7960	−0.103%	$1.5M	$131K	20x	as long as short
Lighter XCU	+0.0032%	1h	6.8058	+0.041%	$476K	$45K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7964	−0.097%	$45K	$30K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7932	−0.144%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.7962	−0.099%	$1K	$3K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.7928	−0.150%	$10.4M	$5.2M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7939	−0.134%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7917	−0.166%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7953	−0.113%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.7970	−0.088%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8020	−0.015%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7960	−0.103%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSDshort	+0.0312%	1h	6.7909	−0.178%	$28K	$173K	20x
Extended XCU-USD	+0.0320%	1h	6.7938	−0.135%	$230K	$2.9M	20x	as long as short