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Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets
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Funding you earn now, next payment 23:00 UTC+0.0488%/8h= +53.4% APRnext payment +$0.61 per $10,000 · paid last 24h −0.028%
Price spread now: Entropy against Coinbase International+1.983%7-day average +2.522% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$159as in the Price arb table
costs, in and out, $10k−$1051.054% of the position
Long on Coinbase InternationalShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 7 days+0.345%+$35 on $10k
Price spread, last 3 days (all we have)+0.787%+$79 · spread now +1.983%, 7d avg +2.522%
Together, before fees+1.132%+$113 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 0.539% cheaper against Coinbase International than usual: you would sell low and buy high (spread +1.983% now, against its 7-day average of +2.522%). If the spread goes back, that is −$54 on $10k: about 3.7 days of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.345% in total) that is about 11 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongCoinbase International ANTHROPIC-PERP-INTX2,119.1−0.0376get 0.0047% / 1h19m 58s$267K$26K5x
ShortEntropy io:ANTH2,161.10.0112get 0.0014% / 1h19m 58s$35.1M$7.7M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against Coinbase International. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$102.46
Price spread: +1.983% → +2.522%
−$53.88
Slippage, 4 orders
−$77.44
Fee Coinbase International: 5 bp × 2 orders
−$10
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$56.87
Costs to cover
1.054%
Break-even
10.9 days
Slippage from Coinbase International: live order book, 58 min ago; Entropy: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Coinbase International live order book, 58 min ago25.39 bp43.1 bp −$4363.3 bp −$633doesn't fitdoesn't fit
Sell Entropy live order book, 7 min ago0.46 bp15.6 bp −$16doesn't fitdoesn't fitdoesn't fit

ANTHROPIC on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International ANTHROPIC-PERP-INTXlong−0.0376%1h2,119.1long leg$267K$26K5x
HTX ANTHROPIC-USDT−0.0279%8h2,108.7−0.490%$42K$70K20xas long as short
QFEX ANTHROPIC-USD−0.0002%1h2,108.2−0.514%$1.4M$1.5M10xas long as short
Lighter ANTHROPIC0.0000%1h2,173.3+2.559%$1.9M$713K5xas long as short
Bybit ANTHROPICUSDT0.0000%8h2,154.7+1.683%$2.4M$377K25xas long as short
OKX ANTHROPIC-USDT-SWAP0.0000%8h2,171+2.451%$4.8M$1.2M10xas long as short
Gate ANTHROPIC_USDT0.0000%8h2,155.7+1.730%$2.4M$1.2M50xas long as short
Bitget ANTHROPICUSDT0.0000%8h2,104.4−0.694%$25.8M$3.1M20xas long as short
SunX ANTHROPIC-USDT0.0000%8h2,112−0.334%—$2.6M10xas long as short
Phemex ANTHROPICUSDT0.0000%8h2,108.8−0.487%$1.6M$377K10xas long as short
Show all 21 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH ANTHROPIC+0.0032%1h2,172.1+2.503%$6.3M$17.1M5xas long as short
BloFin ANTHROPIC-USDT+0.0045%8h2,108.2−0.512%$268K$259K20xas long as short
Extended ANTHROP-USD+0.0048%1h2,107.8−0.531%$19K$38K10xas long as short
Aster ANTHROPICUSDT+0.0050%8h2,108.2−0.512%$123K$6K10xas long as short
Binance ANTHROPICUSDT+0.0050%8h2,108.1−0.516%$31.9M$8.1M20xas long as short
MEXC ANTHROPIC_USDT+0.0050%8h2,107.9−0.528%$7.8M$278K50xas long as short
KuCoin ANTHROPICUSDTM+0.0050%8h2,122.2+0.149%$479K$21K20xas long as short
Variational Omni ANTHROPIC+0.0050%8h2,107.9−0.525%$2.3M$515K—as long as short
GRVT ANTHROPIC_USDT_Perp+0.0050%8h2,107.1−0.563%$10K$157K10xas long as short
Aevo ANTHROPIC-PERP+0.0104%1h2,108.1−0.519%$10K—10xas long as short
Entropy io:ANTHshort+0.0112%1h2,161.1+1.983%$35.1M$7.7M6x