Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.026%

Price spread now: Binance against Entropy−2.134%7-day average −3.356% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs+$79as in the Price arb table

costs, in and out, $10k−$430.433% of the position

Long on Entropy Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 7 days−1.399%−$140 · spread now −2.134%, 7d avg −3.356%

Together, before fees−1.659%−$166 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 1.221% dearer against Entropy than usual: you sell high and buy low (spread −2.134% now, against its 7-day average of −3.356%): +$122 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 7 days (−0.260% in total) that is about 33 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,153.3	0.0083	pay 0.0010% / 1h	19m 33s	$34.9M	$7.6M	6x
Short	Binance ANTHROPICUSDT	2,107.3	0.0050	get 0.0050% / 8h	4h 19m	$32.0M	$8.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Entropy. 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 EntropybpFee BinancebpOrdersPrice spread, now −2.134%Rate

Funding earned: −$7
Price spread: −2.134% → −3.356%: $122.13
Slippage, 4 orders: −$15.29
Fee Entropy: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $71.84
Costs to cover: 0.433%
Break-even: from the start

Slippage from Entropy: live order book, 6 min ago; Binance: live order book, 7 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 Entropy live order book, 6 min ago	0.46 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	1.30 bp	8.4 bp −$8	20.8 bp −$208	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	−0.0425%	8h	2,108.6	−2.078%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.374%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.1	−2.144%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.6	+0.618%	$1.9M	$941K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,149.9	−0.157%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,165.7	+0.576%	$4.8M	$868K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,154.3	+0.045%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,104.8	−2.250%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,108.3	−2.090%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.2	−2.095%	$1.6M	$374K	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	2,165.7	+0.576%	$6.2M	$15.9M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.8	−2.160%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.6	−2.122%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDTshort	+0.0050%	8h	2,107.3	−2.134%	$32.0M	$8.1M	20x
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.6	−2.121%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−1.979%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.2	−2.140%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.157%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0058%	8h	2,107.9	−2.108%	$269K	$256K	20x	as long as short
Entropy io:ANTHlong	+0.0083%	1h	2,153.3	long leg	$34.9M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.5	−2.128%	$10K	$63	10x	as long as short