Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.056%

Price spread now: Bybit against Coinbase International+1.845%7-day average +1.960% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$1801.797% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.312%−$31 · spread now +1.845%, 7d avg +1.960%

Together, before fees−0.332%−$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.115% cheaper against Coinbase International than usual: you would sell low and buy high (spread +1.845% now, against its 7-day average of +1.960%). If the spread goes back, that is −$11 on $10k: about 6.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ANTHROPIC-PERP-INTX	2,113.5	−0.0064	get 0.0008% / 1h	31m 10s	$267K	$25K	5x
Short	Bybit ANTHROPICUSDT	2,152.5	0	get 0.0000% / 8h	2h 31m	$2.3M	$425K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +1.845%Rate

Funding earned: $13.44
Price spread: +1.845% → +1.960%: −$11.47
Slippage, 4 orders: −$158.71
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$177.74
Costs to cover: 1.797%
Break-even: 99.6 days

Slippage from Coinbase International: live order book, 17 min ago; Bybit: live order book, 1 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, 17 min ago	27.16 bp	39.4 bp −$39	63.2 bp −$632	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	27.46 bp	59.8 bp −$60	223.1 bp −$2,231	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	−0.0465%	8h	2,104.2	−0.441%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTXlong	−0.0064%	1h	2,113.5	long leg	$267K	$25K	5x
QFEX ANTHROPIC-USD	−0.0006%	1h	2,103	−0.495%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.3	+2.500%	$1.9M	$946K	5x	as long as short
Bybit ANTHROPICUSDTshort	0.0000%	8h	2,152.5	+1.845%	$2.3M	$425K	25x
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.2	+2.400%	$4.8M	$850K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,150.9	+1.772%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,102.8	−0.506%	$25.8M	$3.3M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,107.1	−0.301%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,103.6	−0.468%	$1.6M	$378K	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	2,162.7	+2.329%	$6.3M	$16.1M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,103.1	−0.492%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,103.6	−0.468%	$121K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,103.6	−0.466%	$32.0M	$8.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,103.7	−0.461%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.6	−0.135%	$480K	$21K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,103.7	−0.463%	$2.4M	$704K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,103.2	−0.487%	$10K	$158K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0075%	8h	2,104.8	−0.411%	$271K	$257K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,103.7	−0.463%	$10K	$63	10x	as long as short
Entropy io:ANTH	+0.0106%	1h	2,150.5	+1.752%	$34.9M	$7.7M	6x	as long as short