Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.066%

Price spread now: OKX against Coinbase International+2.029%7-day average +2.354% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1121.118% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.063%+$6 · spread now +2.029%, 7d avg +2.354%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.325% cheaper against Coinbase International than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of +2.354%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ANTHROPIC-PERP-INTX	2,123.7	0.0104	pay 0.0013% / 1h	15m 19s	$267K	$26K	5x
Short	OKX ANTHROPIC-USDT-SWAP	2,166.8	0	get 0.0000% / 8h	6h 15m	$4.8M	$975K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +2.029%Rate

Funding earned: −$21.84
Price spread: +2.029% → +2.354%: −$32.47
Slippage, 4 orders: −$91.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$166.11
Costs to cover: 1.118%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 53 min ago; OKX: live order book, 2 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, 53 min ago	28.17 bp	40.2 bp −$40	66.3 bp −$663	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.46 bp	25.5 bp −$26	doesn't fit	doesn't fit	doesn't fit

ANTHROPIC on 20 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	−0.0336%	8h	2,104.6	−0.901%	$42K	$67K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,104.2	−0.919%	$1.4M	$1.4M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,167.7	+2.071%	$1.9M	$915K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,151.2	+1.292%	$2.4M	$363K	25x	as long as short
OKX ANTHROPIC-USDT-SWAPshort	0.0000%	8h	2,166.8	+2.029%	$4.8M	$975K	10x
Gate ANTHROPIC_USDT	0.0000%	8h	2,152.6	+1.360%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,102.5	−0.997%	$25.8M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,108.6	−0.711%	—	$2.5M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,104.9	−0.884%	$1.6M	$374K	10x	as long as short
Lighter RH ANTHROPIC	+0.0032%	1h	2,169.2	+2.142%	$6.3M	$16.5M	5x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended ANTHROP-USD	+0.0048%	1h	2,103.9	−0.933%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,104.3	−0.915%	$122K	$7K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,104.4	−0.908%	$31.9M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,104.3	−0.912%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,115.9	−0.369%	$478K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,103.7	−0.941%	$2.4M	$671K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,104.9	−0.886%	$10K	$149K	10x	as long as short
Entropy io:ANTH	+0.0082%	1h	2,161.5	+1.779%	$35.2M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,104.1	−0.924%	$10K	—	10x	as long as short
Coinbase International ANTHROPIC-PERP-INTXlong	+0.0104%	1h	2,123.7	long leg	$267K	$26K	5x