Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0042%/8h= +4.5% APRpaid last 24h +0.018%

Price spread now: BloFin against Lighter−2.708%60s7-day average −3.383% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$410.410% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−1.968%−$197 · spread now −2.708%, 7d avg −3.383%

Together, before fees−1.877%+ Points / potential airdropLighter: Season 3 · farm board−$188 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.675% dearer against Lighter than usual: you sell high and buy low: +$67 more if the spread goes back to its 7-day average of −3.383%. The two prices were read 60 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	Lighter ANTHROPIC	2,166.3	0	get 0.0000% / 1h	14m 11s	$1.9M	$945K	5x
Short	BloFin ANTHROPIC-USDT	2,107.6	0.0042	get 0.0042% / 8h	4h 14m	$270K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −2.708%Rate

Funding earned: $8.73
Price spread: −2.708% → −3.383%: $67.46
Slippage, 4 orders: −$29.02
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $35.17
Costs to cover: 0.410%
Break-even: from the start

Slippage from Lighter: live order book, 2 min ago; BloFin: live order book, 18 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 Lighter live order book, 2 min ago	0.23 bp	7.5 bp −$7	151.0 bp −$1,510	710.1 bp −$71.0K	doesn't fit
Sell BloFin live order book, 18 min ago	0.66 bp	7.8 bp −$8	doesn't fit	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	−0.0429%	8h	2,108.4	−2.672%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.966%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.5	−2.715%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIClong	0.0000%	1h	2,166.3	long leg	$1.9M	$945K	5x
Bybit ANTHROPICUSDT	0.0000%	8h	2,150	−0.753%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.7	−0.074%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.5	−0.589%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105	−2.829%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.4	−2.534%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107	−2.737%	$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	2,164.7	−0.074%	$6.2M	$16.0M	5x	as long as short
BloFin ANTHROPIC-USDTshort	+0.0042%	8h	2,107.6	−2.708%	$270K	$256K	20x
Extended ANTHROP-USD	+0.0048%	1h	2,107	−2.736%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.9	−2.697%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.6	−2.709%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.6	−2.712%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−2.568%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.3	−2.725%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.744%	$10K	$150K	10x	as long as short
Entropy io:ANTH	+0.0084%	1h	2,153.2	−0.605%	$34.9M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.5	−2.713%	$10K	$63	10x	as long as short