Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h 0.000%

Price spread now: QFEX against OKX−2.710%54s7-day average −2.444% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$440.440% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.280%+$28 · spread now −2.710%, 7d avg −2.444%

Together, before fees+0.277%+$28 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: QFEX is 0.266% cheaper against OKX than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −2.444%. The two prices were read 54 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	OKX ANTHROPIC-USDT-SWAP	2,166	0	get 0.0000% / 8h	2h 04m	$4.8M	$850K	10x
Short	QFEX ANTHROPIC-USD	2,107.3	−0.0006	pay 0.0001% / 1h	4m 47s	$1.4M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −2.710%Rate

Funding earned: −$1.36
Price spread: −2.710% → −2.444%: −$26.58
Slippage, 4 orders: −$23.95
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$71.89
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; QFEX: 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 OKX live order book, 3 min ago	0.23 bp	18.5 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 2 min ago	1.52 bp	7.5 bp −$7	12.4 bp −$124	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	−0.0443%	8h	2,106.9	−2.727%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0064%	1h	2,120.7	−2.091%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USDshort	−0.0006%	1h	2,107.3	−2.710%	$1.4M	$1.2M	10x
Lighter ANTHROPIC	0.0000%	1h	2,167.1	+0.051%	$1.9M	$946K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,152.9	−0.605%	$2.3M	$425K	25x	as long as short
OKX ANTHROPIC-USDT-SWAPlong	0.0000%	8h	2,166	long leg	$4.8M	$850K	10x
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.4	−0.583%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,106.2	−2.763%	$26.0M	$3.3M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,112.9	−2.452%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,109.2	−2.621%	$1.6M	$383K	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	2,162.5	−0.162%	$6.3M	$16.4M	5x	as long as short
BloFin ANTHROPIC-USDT	+0.0047%	8h	2,108.6	−2.650%	$268K	$259K	20x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,107.5	−2.699%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,108.5	−2.657%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,108.4	−2.658%	$32.1M	$8.4M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,108.6	−2.650%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−2.552%	$498K	$25K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.1	−2.720%	$2.4M	$707K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.3	−2.711%	$10K	$161K	10x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.7	−2.693%	$10K	$63	10x	as long as short
Entropy io:ANTH	+0.0121%	1h	2,152.1	−0.642%	$34.9M	$7.5M	6x	as long as short