Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.037%

Price spread now: Bitget against Coinbase International−0.648%47s7-day average −0.494% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1001.003% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.557%−$56 · spread now −0.648%, 7d avg −0.494%

Together, before fees−0.586%−$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.154% cheaper against Coinbase International than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.494%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ANTHROPIC-PERP-INTX	2,121.3	0.0040	pay 0.0005% / 1h	8m 31s	$268K	$22K	5x
Short	Bitget ANTHROPICUSDT	2,107.6	0	get 0.0000% / 8h	4h 08m	$26.0M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.648%Rate

Funding earned: −$8.4
Price spread: −0.648% → −0.494%: −$15.42
Slippage, 4 orders: −$78.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$124.15
Costs to cover: 1.003%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 32 min ago; Bitget: live order book, 3 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, 32 min ago	25.78 bp	39.5 bp −$40	57.9 bp −$579	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.14 bp	13.9 bp −$14	37.6 bp −$376	doesn't fit	doesn't fit

ANTHROPIC on 21 exchanges

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	−0.0393%	8h	2,111.5	−0.465%	$42K	$70K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0001%	1h	2,109.3	−0.565%	$1.4M	$1.0M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,170.7	+2.328%	$1.9M	$825K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,152.1	+1.451%	$2.3M	$360K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,168.4	+2.219%	$4.8M	$646K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,155.4	+1.607%	$2.5M	$997K	50x	as long as short
Bitget ANTHROPICUSDTshort	0.0000%	8h	2,107.6	−0.648%	$26.0M	$3.0M	20x
SunX ANTHROPIC-USDT	0.0000%	8h	2,115	−0.298%	—	$1.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,111.4	−0.467%	$1.6M	$342K	10x	as long as short
Lighter RH ANTHROPIC	+0.0032%	1h	2,165.9	+2.102%	$6.3M	$17.1M	5x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International ANTHROPIC-PERP-INTXlong	+0.0040%	1h	2,121.3	long leg	$268K	$22K	5x
Extended ANTHROP-USD	+0.0048%	1h	2,109.7	−0.545%	$10K	$11K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,110.4	−0.513%	$122K	$7K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,110.4	−0.516%	$32.3M	$7.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.7	−0.643%	$7.7M	$244K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,119.2	−0.100%	$501K	$303K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,110.3	−0.518%	$2.3M	$680K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,110.7	−0.503%	$10K	$198K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0078%	8h	2,110.8	−0.496%	$274K	$245K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,110.2	−0.525%	$10K	$63	10x	as long as short
Entropy io:ANTH	+0.0121%	1h	2,156.7	+1.668%	$35.1M	$6.7M	6x	as long as short