Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against Lighter−2.707%7-day average −3.346% · you buy dearer than you sell

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

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−1.876%−$188 · spread now −2.707%, 7d avg −3.346%

Together, before fees−1.878%+ Points / potential airdropLighter: Season 3 · farm board−$188 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.640% dearer against Lighter than usual: you sell high and buy low, +$64 on $10k if it goes back to its 7-day average of −3.346%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ANTHROPIC	2,166.2	0	get 0.0000% / 1h	12m 57s	$1.9M	$946K	5x
Short	Phemex ANTHROPICUSDT	2,107.6	0	get 0.0000% / 8h	4h 12m	$1.6M	$374K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −2.707%Rate

Funding earned: $0
Price spread: −2.707% → −3.346%: $63.97
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $51.97
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: live order book, 4 min ago; Phemex: live order book, 5 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 Lighter live order book, 4 min ago	0.23 bp	7.5 bp −$7	151.0 bp −$1,510	710.1 bp −$71.0K	doesn't fit
Sell Phemex live order book, 5 min ago	2.13 bp	doesn't fit	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	−0.0430%	8h	2,108.4	−2.667%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.961%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.3	−2.717%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIClong	0.0000%	1h	2,166.2	long leg	$1.9M	$946K	5x
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.1	−0.742%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	−0.065%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.6	−0.581%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.2	−2.818%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.4	−2.530%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDTshort	0.0000%	8h	2,107.6	−2.707%	$1.6M	$374K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,164.5	−0.078%	$6.2M	$16.0M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.9	−2.737%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.7	−2.702%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.5	−2.711%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.5	−2.708%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−2.563%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.3	−2.721%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.739%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0075%	8h	2,107.6	−2.707%	$269K	$256K	20x	as long as short
Entropy io:ANTH	+0.0083%	1h	2,153.1	−0.605%	$34.9M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.5	−2.711%	$10K	$63	10x	as long as short