I'm using this right now and it's slim and awesome
http://www.aliexpress.com/item/Magic...527451882.html
The blue thing on the edge is actually a blue sticker you peel off to reveal the metal.
The wake/sleep function works like a charm. I've had no problems so far (6 months+). I can bend it all the way back and the reader doesn't turn off. I really recommend this cover (I've gone through 2 other non-wake/sleep covers and I hated them because of the bulk)!!
You should reconsider these auto-sleep/wake covers!