Funding you earn now, next payment 01:00 UTC−0.0451%/8h= −49.4% APRnext payment −$0.56 per $10,000 · paid last 24h −0.152%
Price spread now: Kraken Futures against QFEX−0.186%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$520.515% of the position
Funding, last 3 days (all we have)−3.539%−$354 on $10k
+Price spread, last 3 days (all we have)+0.202%+$20 · spread now −0.186%, 7d avg −0.028%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.158% cheaper against QFEX than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.028%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX COPPER-USD | 6.8070 | 0.0004 | pay 0.0000% / 1h | 47m 04s | $1.5M | $139K | 20x |
| Short | Kraken Futures PF_XCUUSD | 6.7943 | −0.0448 | pay 0.0056% / 1h | 47m 04s | $28K | $174K | 20x |
QFEX COPPER-USD
Kraken Futures PF_XCUUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against QFEX. 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
- −$94.81
- Price spread: −0.186% → −0.028%
- −$15.8
- Slippage, 4 orders
- −$31.54
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$162.15
- Costs to cover
- 0.515%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 4 min ago; Kraken Futures: live order book, 25 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 QFEX live order book, 4 min ago | 1.47 bp | 7.9 bp −$8 | 12.3 bp −$123 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 25 min ago | 0.29 bp | 25.0 bp −$25 | 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 | −0.0448% | 1h | 6.7943 | −0.186% | $28K | $174K | 20x | |
| edgeX COPPERUSDC | −0.0016% | 4h | 6.8104 | +0.049% | $94K | $319K | 20x | as long as short |
| Aster XCUUSDT | 0.0000% | 4h | 6.8082 | +0.018% | $32K | $36K | 50x | as long as short |
| Binance COPPERUSDT | 0.0000% | 4h | 6.8080 | +0.015% | $9.1M | $34.1M | 100x | as long as short |
| OKX XCU-USDT-SWAP | 0.0000% | 8h | 6.8059 | −0.016% | $470K | $990K | 50x | as long as short |
| Gate XCU_USDT | 0.0000% | 8h | 6.7950 | −0.176% | $1.3M | $491K | 100x | as long as short |
| MEXC COPPER_USDT | 0.0000% | 4h | 6.8070 | 0.000% | $26.8M | $4.9M | 100x | as long as short |
| Bitget COPPERUSDT | 0.0000% | 4h | 6.8100 | +0.044% | $1.7M | $1.0M | 100x | as long as short |
| Variational Omni COPPER | 0.0000% | 4h | 6.8094 | +0.036% | $741K | $1.6M | — | as long as short |
| GRVT COPPER_USDT_Perp | 0.0000% | 4h | 6.8130 | +0.088% | $94K | $2.1M | 25x | as long as short |
edgeX COPPERUSDC
Aster XCUUSDT
Binance COPPERUSDT
OKX XCU-USDT-SWAP
Gate XCU_USDT
MEXC COPPER_USDT
Bitget COPPERUSDT
Variational Omni COPPER
GRVT COPPER_USDT_PerpShow all 28 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX COPPER-USDT | 0.0000% | 4h | 6.8090 | +0.029% | — | $7.4M | 20x | as long as short |
| HTX COPPER-USDT | 0.0000% | 4h | 6.8130 | +0.088% | $60K | $27K | 75x | as long as short |
| Phemex COPPERUSDT | 0.0000% | 4h | 6.7910 | −0.235% | $4.2M | $78K | 100x | as long as short |
| gTrade (Gains Network) HG/USD | L +0.0002% / S −0.0001% | 1h | 6.8056 | −0.021% | $177K | — | 250x | as long as short |
| QFEX COPPER-USDlong | +0.0004% | 1h | 6.8070 | long leg | $1.5M | $139K | 20x | |
| BloFin COPPER-USDT | +0.0009% | 4h | 6.8090 | +0.029% | $87K | $150K | 100x | as long as short |
| Vest HG-PERP | +0.0046% | 1h | 6.8053 | −0.025% | — | $82K | 25x | as long as short |
| Paradex XCU-USD-PERP | +0.0050% | 8h | 6.8079 | +0.014% | $1K | $3K | 5x | as long as short |
| tradeXYZ xyz:COPPER | +0.0050% | 1h | 6.8056 | −0.021% | $10.4M | $5.1M | 20x | as long as short |
| SoDEX COPPER-USD | +0.0050% | 1h | 6.8055 | −0.022% | $901 | $3K | 20x | as long as short |
| Ondo Perps COPPER-USD.P | +0.0050% | 1h | 6.8059 | −0.016% | $57K | $55K | 15x | as long as short |
| Lighter XCU | +0.0056% | 1h | 6.8191 | +0.178% | $477K | $45K | 20x | as long as short |
| Pacifica COPPER | +0.0100% | 1h | 6.8058 | −0.018% | $23K | $14K | 10x | as long as short |
| KuCoin COPPERUSDTM | +0.0100% | 4h | 6.8050 | −0.029% | $258K | $25K | 50x | as long as short |
| Orderly PERP_COPPER_USDC_mythos | +0.0100% | 8h | 6.8150 | +0.118% | $3K | — | 10x | as long as short |
| Aevo COPPER-PERP | +0.0104% | 1h | 6.8073 | +0.004% | $311 | — | 10x | as long as short |
| Phoenix COPPER | +0.0118% | 1h | 6.8095 | +0.037% | $45K | $30K | 20x | as long as short |
| Extended XCU-USD | +0.0392% | 1h | 6.8055 | −0.021% | $229K | $2.9M | 20x | as long as short |
SunX COPPER-USDT
HTX COPPER-USDT
Phemex COPPERUSDT
gTrade (Gains Network) HG/USD
BloFin COPPER-USDT
Vest HG-PERP
Paradex XCU-USD-PERP
tradeXYZ xyz:COPPER
SoDEX COPPER-USD
Ondo Perps COPPER-USD.P
Lighter XCU
Pacifica COPPER
KuCoin COPPERUSDTM
Orderly PERP_COPPER_USDC_mythos
Aevo COPPER-PERP
Phoenix COPPER
Extended XCU-USD