Funding you earn now, next payment 10:00 UTC−0.0234%/8h= −25.6% APRnext payment −$0.29 per $10,000 · paid last 24h +0.063%
Price spread now: Lighter against Kraken Futures+0.173%7-day average +0.218% · you sell dearer than you buy
Net, funding: paid 7d − costs+$302as in the Funding arb table
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$710.707% of the position
Funding, last 7 days+3.732%+$373 on $10k
+Price spread, last 4 days (all we have)−0.151%−$15 · spread now +0.173%, 7d avg +0.218%
=Together, before fees+3.580%+ Points / potential airdropLighter: Season 3 · farm board+$358 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.218%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.732%, 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 | 6.8370 | 0.0330 | pay 0.0041% / 1h | 57m 21s | $34K | $178K | 20x |
| Short | Lighter XCU | 6.8489 | 0.0096 | get 0.0012% / 1h | 57m 21s | $479K | $23K | 20x |
Kraken Futures PF_XCUUSD
Lighter XCUFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$49.07
- Price spread: +0.173% → +0.218%
- −$4.45
- Slippage, 4 orders
- −$60.69
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$124.2
- Costs to cover
- 0.707%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 35 min ago; Lighter: live order book, 27 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, 35 min ago | 6.98 bp | 22.9 bp −$23 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 27 min ago | 2.06 bp | 4.7 bp −$5 | 10.1 bp −$101 | 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 | −0.0035% | 4h | 6.8360 | −0.015% | $88K | $152K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8387 | +0.024% | $33K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8388 | +0.026% | $9.1M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8337 | −0.049% | $499K | $912K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.8220 | −0.220% | $1.3M | $183K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8380 | +0.014% | $26.0M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8380 | +0.014% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8322 | −0.070% | $765K | $1.3M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8364 | −0.009% | $91K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8390 | +0.029% | — | $5.4M | 20x | as long as short |
BloFin COPPER-USDT
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX COPPER-USDT | 0.0000% | 4h | 6.8390 | +0.029% | $61K | $54K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8230 | −0.205% | $4.2M | $83K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8323 | −0.069% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0018% | 4h | 6.8355 | −0.023% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8370 | −0.001% | $1.5M | $144K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8346 | −0.036% | $273K | $1.7M | 20x | as long as short |
| tradeXYZ xyz:COPPER | +0.0036% | 1h | 6.8335 | −0.052% | $10.8M | $4.1M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8350 | −0.030% | — | $36K | 25x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8334 | −0.053% | $905 | $6K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8402 | +0.046% | $57K | $53K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8355 | −0.023% | $2K | $1K | 5x | as long as short |
| Lighter XCUshort | +0.0096% | 1h | 6.8489 | +0.173% | $479K | $23K | 20x | |
| Pacifica COPPER | +0.0100% | 1h | 6.8361 | −0.014% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8340 | −0.045% | $266K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8440 | +0.102% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8367 | −0.005% | $313 | — | 10x | as long as short |
| Phoenix COPPER | +0.0129% | 1h | 6.8336 | −0.050% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0330% | 1h | 6.8370 | long leg | $34K | $178K | 20x |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
tradeXYZ xyz:COPPER
Vest HG-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER