Funding you earn now, next payment 07:00 UTC−0.0102%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h +0.059%
Price spread now: tradeXYZ against Kraken Futures−0.040%7-day average +0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs+$318as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$710.706% of the position
Funding, last 7 days+3.884%+$388 on $10k
+Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.040%, 7d avg +0.048%
=Together, before fees+3.942%+ Points / potential airdroptradeXYZ: Active · farm board+$394 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and tradeXYZ is 0.087% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.048%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +3.884%, 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 | 6.8102 | 0.0108 | pay 0.0013% / 1h | 23m 59s | $34K | $176K | 20x |
| Short | tradeXYZ xyz:COPPER | 6.8075 | 0.0006 | get 0.0001% / 1h | 23m 59s | $10.6M | $5.0M | 20x |
Kraken Futures PF_XCUUSD
tradeXYZ xyz:COPPERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$21.42
- Price spread: −0.040% → +0.048%
- −$8.73
- Slippage, 4 orders
- −$42.61
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$100.76
- Costs to cover
- 0.706%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 18 min ago; tradeXYZ: live order book, 5 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, 18 min ago | 3.38 bp | 23.8 bp −$24 | doesn't fit | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 5 min ago | 0.88 bp | 10.7 bp −$11 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin COPPER-USDT | −0.0027% | 4h | 6.8110 | +0.012% | $88K | $139K | 100x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8131 | +0.042% | $32K | $27K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8128 | +0.039% | $9.1M | $33.9M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8074 | −0.041% | $493K | $981K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7960 | −0.208% | $1.3M | $523K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8110 | +0.012% | $26.2M | $5.0M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8090 | −0.018% | $2.9M | $2.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8093 | −0.013% | $734K | $1.4M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8107 | +0.008% | $98K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8110 | +0.012% | — | $6.4M | 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 | 6.8130 | +0.041% | $61K | $24K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8120 | +0.026% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8058 | −0.065% | $177K | — | 250x | as long as short |
| QFEX COPPER-USD | +0.0003% | 1h | 6.8110 | +0.012% | $1.5M | $129K | 20x | as long as short |
| tradeXYZ xyz:COPPERshort | +0.0006% | 1h | 6.8075 | −0.040% | $10.6M | $5.0M | 20x | |
| edgeX COPPERUSDC | +0.0010% | 4h | 6.8091 | −0.015% | $94K | $317K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8082 | −0.029% | $275K | $2.3M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8069 | −0.048% | — | $82K | 25x | as long as short |
| Phoenix COPPER | +0.0047% | 1h | 6.8068 | −0.050% | $45K | $22K | 20x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8090 | −0.018% | $1K | $2K | 5x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8071 | −0.045% | $4K | $5K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8102 | 0.000% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0096% | 1h | 6.8221 | +0.175% | $477K | $42K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8077 | −0.037% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8120 | +0.026% | $278K | $37K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8150 | +0.071% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8101 | −0.002% | $311 | — | 10x | as long as short |
| Kraken Futures PF_XCUUSDlong | +0.0108% | 1h | 6.8102 | long leg | $34K | $176K | 20x |
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
QFEX COPPER-USD
edgeX COPPERUSDC
Extended XCU-USD
Vest HG-PERP
Phoenix COPPER
Paradex XCU-USD-PERP
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP