Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.004%

Price spread now: Lighter against GRVT+3.140%108s7-day average +3.470% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 3 days (all we have)+1.438%+$144 · spread now +3.140%, 7d avg +3.470%

Together, before fees+1.345%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board+$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.330% cheaper against GRVT than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +3.470%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ANTHROPIC_USDT_Perp	2,107.1	0.0050	pay 0.0050% / 8h	17m 44s	$10K	$157K	10x
Short	Lighter ANTHROPIC	2,173.3	0	get 0.0000% / 1h	17m 44s	$1.9M	$713K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +3.140%Rate

Funding earned: −$10.5
Price spread: +3.140% → +3.470%: −$33.03
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$52.53
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 59 min ago; Lighter: live order book, 4 min ago. Net counts fees only.

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 GRVT live order book, 59 min ago	0.55 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.69 bp	7.7 bp −$8	33.5 bp −$335	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	+0.566%	$267K	$26K	5x	as long as short
HTX ANTHROPIC-USDT	−0.0281%	8h	2,109.2	+0.095%	$42K	$70K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,108.2	+0.051%	$1.4M	$1.5M	10x	as long as short
Lighter ANTHROPICshort	0.0000%	1h	2,173.3	+3.140%	$1.9M	$713K	5x
Bybit ANTHROPICUSDT	0.0000%	8h	2,155.1	+2.275%	$2.4M	$373K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,171.1	+3.035%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,157.2	+2.375%	$2.5M	$1.2M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,104.3	−0.134%	$25.8M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.9	+0.226%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.8	+0.076%	$1.6M	$376K	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	+3.083%	$6.3M	$17.2M	5x	as long as short
BloFin ANTHROPIC-USDT	+0.0042%	8h	2,108	+0.042%	$267K	$259K	20x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,108.1	+0.045%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,108.5	+0.064%	$123K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,108.6	+0.067%	$31.9M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,108.2	+0.051%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,122.2	+0.716%	$479K	$21K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.9	+0.038%	$2.3M	$515K	—	as long as short
GRVT ANTHROPIC_USDT_Perplong	+0.0050%	8h	2,107.1	long leg	$10K	$157K	10x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,108.3	+0.053%	$10K	—	10x	as long as short
Entropy io:ANTH	+0.0114%	1h	2,161.2	+2.565%	$35.1M	$7.7M	6x	as long as short