Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.043%

Price spread now: Bybit against Entropy−0.445%7-day average −1.349% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$920.917% of the position

Long on Entropy Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 7 days−1.792%−$179 · spread now −0.445%, 7d avg −1.349%

Together, before fees−2.164%−$216 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.905% dearer against Entropy than usual: you sell high and buy low (spread −0.445% now, against its 7-day average of −1.349%): +$90 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,160.9	0.0110	pay 0.0014% / 1h	23m 33s	$35.1M	$7.6M	6x
Short	Bybit ANTHROPICUSDT	2,151.3	0	get 0.0000% / 8h	23m 33s	$2.3M	$376K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.445%Rate

Funding earned: −$23.02
Price spread: −0.445% → −1.349%: $90.46
Slippage, 4 orders: −$62.72
Fee Entropy: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.28
Costs to cover: 0.917%
Break-even: never at this rate

Slippage from Entropy: live order book, 3 min ago; Bybit: 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 Entropy live order book, 3 min ago	0.46 bp	15.6 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	12.85 bp	35.5 bp −$35	147.7 bp −$1,477	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
Coinbase International ANTHROPIC-PERP-INTX	−0.0376%	1h	2,119.1	−1.936%	$267K	$26K	5x	as long as short
HTX ANTHROPIC-USDT	−0.0281%	8h	2,109	−2.403%	$42K	$70K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,106.9	−2.500%	$1.4M	$1.5M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,173.1	+0.565%	$1.9M	$710K	5x	as long as short
Bybit ANTHROPICUSDTshort	0.0000%	8h	2,151.3	−0.445%	$2.3M	$376K	25x
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,168.3	+0.342%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,155	−0.274%	$2.4M	$1.2M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,103.8	−2.643%	$25.8M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,110.9	−2.314%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.7	−2.463%	$1.6M	$375K	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	2,172.1	+0.518%	$6.3M	$17.1M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.5	−2.520%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,106.9	−2.500%	$123K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,106.9	−2.500%	$31.9M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.2	−2.486%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,122.2	−1.790%	$479K	$21K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.7	−2.507%	$2.3M	$515K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.4	−2.474%	$10K	$158K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0070%	8h	2,107.4	−2.478%	$268K	$259K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.5	−2.473%	$10K	—	10x	as long as short
Entropy io:ANTHlong	+0.0110%	1h	2,160.9	long leg	$35.1M	$7.6M	6x