Funding arb · Price arb /

COPPER

RWAall COPPER markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1014%/8h= −111.0% APRpaid last 24h −0.084%

Price spread now: Kraken Futures against MEXC+0.039%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$426as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−3.678%−$368 on $10k

Price spread, last 3 days (all we have)−0.035%−$4 · spread now +0.039%, 7d avg −0.036%

Together, before fees−3.713%−$371 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.075% dearer against MEXC than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of −0.036%): +$7 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC COPPER_USDT	6.8000	0	get 0.0000% / 4h	2h 34m	$26.0M	$5.0M	100x
Short	Kraken Futures PF_XCUUSD	6.8026	−0.1014	pay 0.0127% / 1h	34m 50s	$32K	$176K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$212.88
Price spread: +0.039% → −0.036%: $7.47
Slippage, 4 orders: −$47.82
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$263.23
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: live order book, 33 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 MEXC live order book, 4 min ago	1.47 bp	1.5 bp −$1	3.0 bp −$30	9.4 bp −$937	381.8 bp −$190.9K
Sell Kraken Futures live order book, 33 min ago	11.67 bp	24.3 bp −$24	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
Kraken Futures PF_XCUUSDshort	−0.1014%	1h	6.8026	+0.039%	$32K	$176K	20x
tradeXYZ xyz:COPPER	−0.0137%	1h	6.7964	−0.053%	$10.4M	$4.8M	20x	as long as short
BloFin COPPER-USDT	−0.0051%	4h	6.8050	+0.074%	$88K	$144K	100x	as long as short
Aster XCUUSDT	0.0000%	4h	6.8010	+0.015%	$32K	$35K	50x	as long as short
Binance COPPERUSDT	0.0000%	4h	6.8001	+0.002%	$9.1M	$32.2M	100x	as long as short
OKX XCU-USDT-SWAP	0.0000%	8h	6.7975	−0.037%	$472K	$939K	50x	as long as short
Gate XCU_USDT	0.0000%	8h	6.7860	−0.206%	$1.3M	$478K	100x	as long as short
MEXC COPPER_USDTlong	0.0000%	4h	6.8000	long leg	$26.0M	$5.0M	100x
Bitget COPPERUSDT	0.0000%	4h	6.8000	0.000%	$1.7M	$1.0M	100x	as long as short
Variational Omni COPPER	0.0000%	4h	6.7954	−0.067%	$741K	$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	6.8012	+0.018%	$95K	$2.1M	25x	as long as short
SunX COPPER-USDT	0.0000%	4h	6.8010	+0.015%	—	$6.8M	20x	as long as short
HTX COPPER-USDT	0.0000%	4h	6.7980	−0.029%	$61K	$26K	75x	as long as short
Phemex COPPERUSDT	0.0000%	4h	6.7920	−0.118%	$4.2M	$74K	100x	as long as short
gTrade (Gains Network) HG/USD	L +0.0002% / S −0.0001%	1h	6.8004	+0.006%	$176K	—	250x	as long as short
QFEX COPPER-USD	+0.0006%	1h	6.8010	+0.015%	$1.5M	$129K	20x	as long as short
edgeX COPPERUSDC	+0.0016%	4h	6.7986	−0.020%	$94K	$317K	20x	as long as short
Phoenix COPPER	+0.0035%	1h	6.7970	−0.044%	$45K	$30K	20x	as long as short
Lighter XCU	+0.0040%	1h	6.8106	+0.156%	$477K	$39K	20x	as long as short
Vest HG-PERP	+0.0046%	1h	6.7981	−0.028%	—	$82K	25x	as long as short
Paradex XCU-USD-PERP	+0.0050%	8h	6.8003	+0.004%	$1K	$2K	5x	as long as short
SoDEX COPPER-USD	+0.0050%	1h	6.7996	−0.006%	$900	$3K	20x	as long as short
Ondo Perps COPPER-USD.P	+0.0050%	1h	6.7902	−0.144%	$56K	$55K	15x	as long as short
Pacifica COPPER	+0.0100%	1h	6.7984	−0.023%	$23K	$14K	10x	as long as short
KuCoin COPPERUSDTM	+0.0100%	4h	6.8020	+0.029%	$258K	$25K	50x	as long as short
Orderly PERP_COPPER_USDC_mythos	+0.0100%	8h	6.8070	+0.103%	$3K	—	10x	as long as short
Aevo COPPER-PERP	+0.0104%	1h	6.7999	−0.001%	$311	—	10x	as long as short
Extended XCU-USD	+0.0416%	1h	6.7988	−0.018%	$229K	$2.9M	20x	as long as short