Funding you earn now, next payment 10:00 UTC+0.0330%/8h= +36.1% APRpaid last 24h −0.038%
Price spread now: Kraken Futures against OKX+0.027%7-day average −0.007% · you sell dearer than you buy
Net, funding: paid 7d − costs−$463as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$700.704% of the position
Funding, last 7 days−3.921%−$392 on $10k
+Price spread, last 4 days (all we have)+0.021%+$2 · spread now +0.027%, 7d avg −0.007%
=Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.034% dearer against OKX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.007%. Mind the row above: over the last 7 days funding on this pair cost −3.921%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX XCU-USDT-SWAP | 6.8338 | 0 | get 0.0000% / 8h | 6h 56m | $499K | $894K | 50x |
| Short | Kraken Futures PF_XCUUSD | 6.8356 | 0.0330 | get 0.0041% / 1h | 56m 12s | $34K | $178K | 20x |
OKX XCU-USDT-SWAP
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against OKX. 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
- $69.24
- Price spread: +0.027% → −0.007%
- $3.39
- Slippage, 4 orders
- −$50.43
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $2.2
- Costs to cover
- 0.704%
- Break-even
- 6.8 days
Slippage from OKX: live order book, 25 min ago; Kraken Futures: live order book, 36 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 OKX live order book, 25 min ago | 0.81 bp | 8.8 bp −$9 | 26.1 bp −$261 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 36 min ago | 6.98 bp | 28.4 bp −$28 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster XCUUSDT | 0.0000% | 4h | 6.8386 | +0.071% | $33K | $28K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8395 | +0.084% | $9.1M | $33.4M | 100x | as long as short |
| OKX XCU-USDT-SWAPlong | 0.0000% | 8h | 6.8338 | long leg | $499K | $894K | 50x | |
| Gate XCU_USDT | 0.0000% | 8h | 6.8250 | −0.129% | $1.3M | $183K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8410 | +0.105% | $26.0M | $5.5M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8380 | +0.061% | $2.9M | $1.6M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8322 | −0.023% | $765K | $1.3M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8364 | +0.038% | $91K | $2.4M | 25x | as long as short |
| SunX COPPER-USDT | 0.0000% | 4h | 6.8390 | +0.076% | — | $5.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8420 | +0.120% | $61K | $54K | 75x | as long as short |
Aster XCUUSDT
Binance COPPERUSDT
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_Perp
SunX COPPER-USDT
HTX COPPER-USDTShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex COPPERUSDT | 0.0000% | 4h | 6.8240 | −0.143% | $4.2M | $82K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8323 | −0.022% | $178K | — | 250x | as long as short |
| edgeX COPPERUSDC | +0.0018% | 4h | 6.8355 | +0.025% | $95K | $318K | 20x | as long as short |
| QFEX COPPER-USD | +0.0020% | 1h | 6.8400 | +0.091% | $1.5M | $144K | 20x | as long as short |
| Extended XCU-USD | +0.0032% | 1h | 6.8348 | +0.015% | $273K | $1.7M | 20x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8355 | +0.025% | — | $36K | 25x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8350 | +0.018% | $10.8M | $4.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8340 | +0.003% | $905 | $6K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8402 | +0.094% | $57K | $53K | 15x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8371 | +0.048% | $2K | $1K | 5x | as long as short |
| BloFin COPPER-USDT | +0.0051% | 4h | 6.8400 | +0.091% | $89K | $152K | 100x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8372 | +0.049% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8360 | +0.032% | $266K | $39K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8440 | +0.149% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8368 | +0.043% | $313 | — | 10x | as long as short |
| Lighter XCU | +0.0112% | 1h | 6.8490 | +0.222% | $479K | $23K | 20x | as long as short |
| Phoenix COPPER | +0.0129% | 1h | 6.8336 | −0.003% | $45K | $17K | 20x | as long as short |
| Kraken Futures PF_XCUUSDshort | +0.0330% | 1h | 6.8356 | +0.027% | $34K | $178K | 20x |
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
edgeX COPPERUSDC
QFEX COPPER-USD
Extended XCU-USD
Vest HG-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Paradex XCU-USD-PERP
BloFin COPPER-USDT
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Lighter XCU
Phoenix COPPER