Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0580%/8h= +63.6% APRpaid last 24h +0.117%

Price spread now: KuCoin against Kraken Futures+0.007%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs+$279as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1411.411% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+4.203%+$420 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.007%, 7d avg +0.065%

Together, before fees+4.195%+$420 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.058% cheaper against Kraken Futures than usual: you would sell low and buy high (spread +0.007% now, against its 7-day average of +0.065%). If the spread goes back, that is −$6 on $10k: about 8 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+4.203% in total) that is about 2 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XCUUSD	6.8245	−0.0480	get 0.0060% / 1h	10m 02s	$35K	$176K	20x
Short	KuCoin COPPERUSDTM	6.8250	0.0100	get 0.0050% / 4h	2h 10m	$278K	$35K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.007%Rate

Funding earned: $121.88
Price spread: +0.007% → +0.065%: −$5.83
Slippage, 4 orders: −$119.12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$25.07
Costs to cover: 1.411%
Break-even: 8.4 days

Slippage from Kraken Futures: live order book, 37 min ago; KuCoin: live order book, 47 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 Kraken Futures live order book, 37 min ago	5.49 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 47 min ago	15.37 bp	55.1 bp −$55	630.4 bp −$6,304	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
Kraken Futures PF_XCUUSDlong	−0.0480%	1h	6.8245	long leg	$35K	$176K	20x
tradeXYZ xyz:COPPER	−0.0005%	1h	6.8222	−0.034%	$10.6M	$5.0M	20x	as long as short
QFEX COPPER-USD	−0.0001%	1h	6.8210	−0.052%	$1.5M	$130K	20x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8255	+0.014%	$32K	$27K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8270	+0.036%	$9.2M	$33.5M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.8178	−0.099%	$498K	$973K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.8080	−0.242%	$1.3M	$532K	100x	as long as short
MEXC COPPER_USDT	0.0000%	4h	6.8250	+0.007%	$26.4M	$4.9M	100x	as long as short
Bitget COPPERUSDT	0.0000%	4h	6.8240	−0.008%	$2.9M	$2.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.8223	−0.033%	$740K	$1.4M	—	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT COPPER_USDT_Perp	0.0000%	4h	6.8119	−0.186%	$94K	$2.3M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8230	−0.022%	—	$6.5M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.8250	+0.007%	$61K	$24K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.8240	−0.008%	$4.2M	$81K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8222	−0.035%	$178K	—	250x	as long as short
edgeX COPPERUSDC	+0.0007%	4h	6.8161	−0.123%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0023%	1h	6.8137	−0.159%	$45K	$23K	20x	as long as short
BloFin COPPER-USDT	+0.0025%	4h	6.8210	−0.052%	$88K	$139K	100x	as long as short
Lighter XCU	+0.0032%	1h	6.8326	+0.118%	$477K	$40K	20x	as long as short
Extended XCU-USD	+0.0032%	1h	6.8231	−0.021%	$276K	$2.4M	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.8195	−0.074%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8203	−0.062%	$2K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.8221	−0.036%	$903	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.8245	0.000%	$57K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.8201	−0.066%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTMshort	+0.0100%	4h	6.8250	+0.007%	$278K	$35K	50x
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8290	+0.066%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.8244	−0.002%	$312	—	10x	as long as short