Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0115%/8h= −12.5% APRpaid last 24h −0.043%

Price spread now: Gate against Entropy−0.326%7-day average −1.274% · you buy dearer than you sell

Net, funding: paid 7d − costs−$253as in the Funding arb table

Net, price: spread back to 7d avg − costs−$121as in the Price arb table

costs, in and out, $10k−$2162.159% of the position

Long on Entropy Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 7 days−1.584%−$158 · spread now −0.326%, 7d avg −1.274%

Together, before fees−1.954%−$195 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.948% dearer against Entropy than usual: you sell high and buy low (spread −0.326% now, against its 7-day average of −1.274%): +$95 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	2,165.6	0.0115	pay 0.0014% / 1h	35m 46s	$35.2M	$7.7M	6x
Short	Gate ANTHROPIC_USDT	2,158.5	0	get 0.0000% / 8h	7h 35m	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.326%Rate

Funding earned: −$24.06
Price spread: −0.326% → −1.274%: $94.8
Slippage, 4 orders: −$182.88
Fee Entropy: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.14
Costs to cover: 2.159%
Break-even: never at this rate

Slippage from Entropy: live order book, 1 min ago; Gate: 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 Entropy live order book, 1 min ago	0.23 bp	14.5 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	7.73 bp	28.5 bp −$29	591.1 bp −$5,911	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	−0.0219%	8h	2,111.2	−2.512%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0080%	1h	2,123.7	−1.934%	$267K	$26K	5x	as long as short
QFEX ANTHROPIC-USD	0.0000%	1h	2,110.5	−2.546%	$1.4M	$1.5M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,171	+0.249%	$1.9M	$894K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,159.5	−0.284%	$2.4M	$380K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,173.7	+0.374%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDTshort	0.0000%	8h	2,158.5	−0.326%	$2.5M	$1.2M	50x
Bitget ANTHROPICUSDT	0.0000%	8h	2,107.6	−2.679%	$25.9M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,114.2	−2.373%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,111.4	−2.504%	$1.6M	$382K	10x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ANTHROPIC-USDT	+0.0028%	8h	2,110.6	−2.539%	$268K	$259K	20x	as long as short
Lighter RH ANTHROPIC	+0.0032%	1h	2,174.1	+0.393%	$6.3M	$16.8M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,110.3	−2.551%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,110.8	−2.532%	$122K	$7K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,110.7	−2.535%	$32.0M	$8.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,110.5	−2.544%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,120	−2.108%	$478K	$21K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,110.3	−2.556%	$2.4M	$664K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,112.1	−2.470%	$10K	$154K	10x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,110.7	−2.535%	$10K	—	10x	as long as short
Entropy io:ANTHlong	+0.0115%	1h	2,165.6	long leg	$35.2M	$7.7M	6x