Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0336%/8h= −36.8% APRpaid last 24h +0.076%

Price spread now: Coinbase International against Bitget+0.745%7-day average +0.449% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$960.962% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 3 days (all we have)+0.773%+$77 · spread now +0.745%, 7d avg +0.449%

Together, before fees+0.807%+$81 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.297% dearer against Bitget than usual: you sell high and buy low (spread +0.745% now, against its 7-day average of +0.449%): +$30 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 2.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.034% in total (about 1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ANTHROPICUSDT	2,103.4	0	get 0.0000% / 8h	1h 20m	$25.8M	$3.1M	20x
Short	Coinbase International ANTHROPIC-PERP-INTX	2,119.1	−0.0336	pay 0.0042% / 1h	20m 13s	$267K	$26K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.745%Rate

Funding earned: −$70.56
Price spread: +0.745% → +0.449%: $29.7
Slippage, 4 orders: −$74.25
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$137.11
Costs to cover: 0.962%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Coinbase International: live order book, 63 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 Bitget live order book, 4 min ago	0.02 bp	10.7 bp −$11	11.9 bp −$119	doesn't fit	doesn't fit
Sell Coinbase International live order book, 63 min ago	27.20 bp	32.2 bp −$32	60.0 bp −$600	doesn't fit	doesn't fit

ANTHROPIC on 21 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
Coinbase International ANTHROPIC-PERP-INTXshort	−0.0336%	1h	2,119.1	+0.745%	$267K	$26K	5x
HTX ANTHROPIC-USDT	−0.0266%	8h	2,106.6	+0.153%	$42K	$70K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0004%	1h	2,106.5	+0.146%	$1.4M	$1.5M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,172.7	+3.295%	$1.9M	$712K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150	+2.214%	$2.3M	$376K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,166	+2.977%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.9	+2.401%	$2.4M	$1.2M	50x	as long as short
Bitget ANTHROPICUSDTlong	0.0000%	8h	2,103.4	long leg	$25.8M	$3.1M	20x
SunX ANTHROPIC-USDT	0.0000%	8h	2,109.6	+0.295%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,106.9	+0.168%	$1.6M	$374K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ANTHROPIC-USDT	+0.0023%	8h	2,106.8	+0.160%	$268K	$260K	20x	as long as short
Lighter RH ANTHROPIC	+0.0032%	1h	2,171.4	+3.233%	$6.2M	$17.4M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,105.7	+0.110%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,106.1	+0.130%	$123K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,106.1	+0.129%	$31.8M	$8.0M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,106.1	+0.128%	$7.8M	$275K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,111.9	+0.402%	$476K	$18K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,105.9	+0.119%	$2.3M	$509K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,104.4	+0.046%	$10K	$159K	10x	as long as short
Entropy io:ANTH	+0.0094%	1h	2,160.3	+2.706%	$35.1M	$7.7M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,106.4	+0.143%	$10K	—	10x	as long as short