Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Phemex+2.175%7-day average +2.248% · you sell dearer than you buy

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

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.131%+$13 · spread now +2.175%, 7d avg +2.248%

Together, before fees+0.131%+$13 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: Bybit is 0.073% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +2.248%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ANTHROPICUSDT	2,103	0	get 0.0000% / 8h	5h 04m	$1.5M	$376K	10x
Short	Bybit ANTHROPICUSDT	2,148.7	0	get 0.0000% / 8h	5h 04m	$2.4M	$352K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Phemex. 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 PhemexbpFee BybitbpOrdersPrice spread, now +2.175%Rate

Funding earned: $0
Price spread: +2.175% → +2.248%: −$7.28
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.28
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 3 min ago; Bybit: live order book, 2 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 Phemex live order book, 3 min ago	5.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	10.47 bp	22.9 bp −$23	125.8 bp −$1,258	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	−0.0398%	8h	2,103.5	+0.023%	$41K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0144%	1h	2,123.7	+0.985%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0004%	1h	2,102.2	−0.036%	$1.4M	$1.3M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,164.7	+2.934%	$1.9M	$911K	5x	as long as short
Bybit ANTHROPICUSDTshort	0.0000%	8h	2,148.7	+2.175%	$2.4M	$352K	25x
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.7	+2.934%	$4.8M	$856K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,152	+2.328%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,101	−0.093%	$25.7M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,106.4	+0.162%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDTlong	0.0000%	8h	2,103	long leg	$1.5M	$376K	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	2,165.7	+2.982%	$6.3M	$16.2M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,102	−0.048%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,102.6	−0.017%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,102.5	−0.022%	$32.0M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,102.6	−0.018%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.366%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,102.5	−0.023%	$2.4M	$679K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,102.7	−0.013%	$10K	$148K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0055%	8h	2,102.5	−0.025%	$269K	$255K	20x	as long as short
Entropy io:ANTH	+0.0091%	1h	2,155.9	+2.516%	$35.0M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,102.4	−0.027%	$10K	—	10x	as long as short