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Funding arb · Price arb /

ANTHROPIC

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Alert: spread
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Funding you earn now, next payment 07:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h +0.024%
Price spread now: Entropy against KuCoin+1.969%7-day average +2.532% · you sell dearer than you buy
Net, funding: paid 7d − costs−$602as in the Funding arb table
Net, price: spread back to 7d avg − costs−$684as in the Price arb table
costs, in and out, $10k−$6286.276% of the position
Long on KuCoinShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 7 days+0.259%+$26 on $10k
Price spread, last 4 days (all we have)+1.404%+$140 · spread now +1.969%, 7d avg +2.532%
Together, before fees+1.663%+$166 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 0.563% cheaper against KuCoin than usual: you would sell low and buy high (spread +1.969% now, against its 7-day average of +2.532%). If the spread goes back, that is −$56 on $10k: about 48 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.259% in total) that is about 15 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin ANTHROPICUSDTM2,110.70.0050pay 0.0050% / 8h1h 52m$498K$25K20x
ShortEntropy io:ANTH2,152.30.0089get 0.0011% / 1h52m 29s$34.9M$7.5M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against KuCoin. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$8.28
Price spread: +1.969% → +2.532%
−$56.26
Slippage, 4 orders
−$597.55
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$675.53
Costs to cover
6.276%
Break-even
578.4 days
Slippage from KuCoin: live order book, 66 min ago; Entropy: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 66 min ago13.79 bp452.8 bp −$453doesn't fitdoesn't fitdoesn't fit
Sell Entropy live order book, 3 min ago0.70 bp15.7 bp −$16doesn't fitdoesn't fitdoesn't fit

ANTHROPIC on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ANTHROPIC-USDT−0.0434%8h2,108.4−0.112%$42K$68K20xas long as short
Coinbase International ANTHROPIC-PERP-INTX−0.0080%1h2,120.7+0.472%$267K$25K5xas long as short
Lighter ANTHROPIC0.0000%1h2,166.7+2.652%$1.8M$900K5xas long as short
Bybit ANTHROPICUSDT0.0000%8h2,153.1+2.007%$2.3M$424K25xas long as short
OKX ANTHROPIC-USDT-SWAP0.0000%8h2,164.9+2.566%$4.8M$846K10xas long as short
QFEX ANTHROPIC-USD0.0000%1h2,107.3−0.163%$1.4M$1.1M10xas long as short
Gate ANTHROPIC_USDT0.0000%8h2,154.1+2.056%$2.4M$1.1M50xas long as short
Bitget ANTHROPICUSDT0.0000%8h2,106−0.226%$25.9M$3.2M20xas long as short
SunX ANTHROPIC-USDT0.0000%8h2,111.7+0.046%—$2.4M10xas long as short
Phemex ANTHROPICUSDT0.0000%8h2,108.5−0.106%$1.6M$381K10xas long as short
Show all 21 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH ANTHROPIC+0.0032%1h2,163+2.476%$6.3M$16.0M5xas long as short
Extended ANTHROP-USD+0.0048%1h2,106.9−0.181%$19K$22K10xas long as short
BloFin ANTHROPIC-USDT+0.0049%8h2,108.3−0.117%$270K$258K20xas long as short
Aster ANTHROPICUSDT+0.0050%8h2,107.5−0.153%$122K$6K10xas long as short
Binance ANTHROPICUSDT+0.0050%8h2,107.5−0.154%$32.1M$8.3M20xas long as short
MEXC ANTHROPIC_USDT+0.0050%8h2,107.4−0.157%$7.8M$272K50xas long as short
KuCoin ANTHROPICUSDTMlong+0.0050%8h2,110.7long leg$498K$25K20x
Variational Omni ANTHROPIC+0.0050%8h2,107.6−0.149%$2.4M$619K—as long as short
GRVT ANTHROPIC_USDT_Perp+0.0050%8h2,108−0.127%$10K$163K10xas long as short
Entropy io:ANTHshort+0.0089%1h2,152.3+1.969%$34.9M$7.5M6x
Aevo ANTHROPIC-PERP+0.0104%1h2,108.2−0.122%$10K$6310xas long as short