Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0195%/8h= −21.4% APRpaid last 24h +0.130%

Price spread now: HTX against Kraken Futures+0.043%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+3.937%+$394 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.043% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 7 days funding on this pair paid +3.937%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XCUUSD	6.8151	0.0195	pay 0.0024% / 1h	50m 18s	$32K	$176K	20x
Short	HTX COPPER-USDT	6.8180	0	get 0.0000% / 4h	1h 50m	$61K	$25K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Kraken Futures. 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 Kraken FuturesbpFee HTXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$41.02
Price spread: +0.043% → 0.000%: $4.26
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$58.76
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 12 min ago; HTX: no order-book sample. 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 Kraken Futures live order book, 12 min ago	5.13 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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 27 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
QFEX COPPER-USD	0.0000%	1h	6.8130	−0.031%	$1.5M	$129K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8152	+0.002%	$32K	$21K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8150	−0.001%	$9.1M	$32.4M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8115	−0.053%	$472K	$939K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8010	−0.207%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8140	−0.016%	$26.0M	$4.2M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8160	+0.013%	$1.7M	$998K	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8132	−0.028%	$742K	$1.4M	—	as long as short
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8195	+0.065%	$88K	$2.0M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8150	−0.001%	—	$6.7M	20x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX COPPER-USDTshort	0.0000%	4h	6.8180	+0.043%	$61K	$25K	75x
Phemex COPPERUSDT	0.0000%	4h	6.7990	−0.236%	$4.2M	$75K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8107	−0.065%	$178K	—	250x	as long as short
Phoenix COPPER	+0.0012%	1h	6.8168	+0.025%	$45K	$23K	20x	as long as short
edgeX COPPERUSDC	+0.0018%	4h	6.8170	+0.028%	$94K	$318K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8103	−0.070%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8125	−0.038%	$1K	$2K	5x	as long as short
tradeXYZ xyz:COPPER	+0.0050%	1h	6.8111	−0.059%	$10.4M	$4.8M	20x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8115	−0.053%	$902	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8139	−0.018%	$57K	$55K	15x	as long as short
Lighter XCU	+0.0056%	1h	6.8234	+0.122%	$477K	$39K	20x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8110	−0.059%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8130	−0.031%	$258K	$21K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8200	+0.072%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8138	−0.019%	$311	—	10x	as long as short
Kraken Futures PF_XCUUSDlong	+0.0195%	1h	6.8151	long leg	$32K	$176K	20x
Extended XCU-USD	+0.0488%	1h	6.8115	−0.052%	$224K	$2.8M	20x	as long as short