Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h −0.051%

Price spread now: Binance against Coinbase International−0.587%7-day average −0.317% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$930.925% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 2 days (all we have)+0.446%+$45 · spread now −0.587%, 7d avg −0.317%

Together, before fees+0.526%+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.270% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.587% now, against its 7-day average of −0.317%). If the spread goes back, that is −$27 on $10k: about 6.9 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.080% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ANTHROPIC-PERP-INTX	2,123.7	−0.0080	get 0.0010% / 1h	31m 04s	$267K	$26K	5x
Short	Binance ANTHROPICUSDT	2,111.2	0.0050	get 0.0050% / 8h	7h 31m	$32.0M	$8.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.587%Rate

Funding earned: $27.3
Price spread: −0.587% → −0.317%: −$26.97
Slippage, 4 orders: −$72.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$92.21
Costs to cover: 0.925%
Break-even: 30.6 days

Slippage from Coinbase International: live order book, 42 min ago; Binance: live order book, 10 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 Coinbase International live order book, 42 min ago	23.51 bp	39.6 bp −$40	62.2 bp −$622	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.02 bp	8.0 bp −$8	31.7 bp −$317	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
HTX ANTHROPIC-USDT	−0.0259%	8h	2,111.3	−0.582%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTXlong	−0.0080%	1h	2,123.7	long leg	$267K	$26K	5x
QFEX ANTHROPIC-USD	0.0000%	1h	2,111.2	−0.588%	$1.4M	$1.5M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,171.2	+2.236%	$1.9M	$894K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,159.6	+1.688%	$2.4M	$380K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,173.5	+2.344%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,159.2	+1.672%	$2.5M	$1.2M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,108	−0.741%	$25.9M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,115.5	−0.387%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,112.7	−0.517%	$1.6M	$381K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,174.4	+2.387%	$6.3M	$16.8M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,110.8	−0.608%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,111.3	−0.583%	$122K	$7K	10x	as long as short
Binance ANTHROPICUSDTshort	+0.0050%	8h	2,111.2	−0.587%	$32.0M	$8.3M	20x
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,111.4	−0.581%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,120	−0.177%	$478K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,111.1	−0.593%	$2.4M	$664K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,111.7	−0.566%	$10K	$154K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0078%	8h	2,111.5	−0.574%	$268K	$259K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,111.5	−0.577%	$10K	—	10x	as long as short
Entropy io:ANTH	+0.0117%	1h	2,165.6	+1.972%	$35.2M	$7.7M	6x	as long as short