Funding arb · Price arb / RWA

ANTHROPIC

RWAAll ANTHROPIC markets →

LONGPhoenix▾Bybit 0.0000%OKX 0.0000%QFEX 0.0000%Gate 0.0000%Deribit 0.0000%Phemex 0.0000%Lighter +0.0016%Lighter RH +0.0016%Extended +0.0048%Aster +0.0050%Binance +0.0050%MEXC +0.0050%KuCoin +0.0050%Variational Omni +0.0050%GRVT +0.0050%HTX +0.0050%Kraken Futures +0.0050%BloFin +0.0066%TxFlow +0.0100%Aevo +0.0104%Entropy +0.0113%AZverse +0.0208%Phoenix +0.0371%BingX +0.0494%Bitget +0.0500%

⇄⇅

SHORTSunX▾Bitget +0.0500%BingX +0.0494%AZverse +0.0208%Entropy +0.0113%Aevo +0.0104%TxFlow +0.0100%BloFin +0.0066%Kraken Futures +0.0050%Aster +0.0050%Binance +0.0050%MEXC +0.0050%KuCoin +0.0050%Variational Omni +0.0050%GRVT +0.0050%SunX +0.0050%HTX +0.0050%Extended +0.0048%Lighter +0.0016%Lighter RH +0.0016%Bybit 0.0000%OKX 0.0000%QFEX 0.0000%Gate 0.0000%Deribit 0.0000%Phemex 0.0000%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixANTHROPIC	1,942.4	+0.0371	pay 0.0046% / 1h	45m 35s	$1.1M	$44K	6x	Long Phoenix
SHORT	SunXANTHROPIC-USDT	1,895.8	+0.0050	get 0.0050% / 8h	5h 45m	$129	$642K	10x	Short SunX≤10% back

Price gap−2.399%

Funding gap−0.0321% /8h

Both sides work against this direction now: funding costs $10 a day on $10k and the gap is 0.564% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.094% in total, about +0.0045%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−2.399%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

PhoenixSunX

ANTHROPIC on 26 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

• ✕
  Problem: Doesn’t fit the books—

  $10k a leg is deeper than SunX’s order book right now.
• i
  Note: Margin at max leverage$1,667 + $1,000

  Phoenix 6x, SunX 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ1h / 8h

  Payments land at different times. Close right after the slower leg pays.

  Long Phoenix · 1h−$11.12

  Short SunX · 8h+$1.50

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$9.62Long Phoenix: 24 payments, −$11.12; short SunX: 3 payments, +$1.50.
• !
  Watch: Gap narrower than usual−2.399% vs −1.836%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$129 vs $1.1M OI

  SunX sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• ✓
  OK: No KYC on either legPhoenix No · SunX No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0045%/8h × 21 periods+$9.36

Price spread−2.399% → −1.836% (7d avg)−$56.35

Slippage, 4 ordersdoesn’t fit the book at $10k—

Fee Phoenix bp × 2 orders−$7.00

Fee SunX bp × 2 orders−$8.00

Net · 7 days · $10k—

doesn’t fit the books at $10k

Costs to cover—Break-even—

Slippage: Phoenix: live order book, 2 min ago; SunX: live order book, 5 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPhoenix3.0943.7 bp−$44252.4 bp−$2,524doesn’t fitdoesn’t fit

SELL · SHORTSunX483.74doesn’t fitdoesn’t fitdoesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

ANTHROPIC news

posts that mention ANTHROPIC or Anthropic, from every exchangeSearch all news →

10-25 07:00	MEXC	Other	Everyone wants a slice. When Anthropic goes public, who deserves the biggest piece of the pie? 🥧 Drop your split below. 👇 @MEXC on X ↗
10-25 07:00	MEXC	Other	Our Anthropic Pre-IPO Launchpad is coming. Complete missions first for a chance to win ANTHROPIC(PRE), an NVIDIA H200 GPU, and more! Win now. 👉 @MEXC on X ↗
10-24 20:00	Kalshi	Other	BREAKING: Anthropic's highest ranking executives have pledged to give away 80% of their personal wealth @Kalshi on X ↗
10-24 19:20	Kalshi	Other	JUST IN: UK partners with OpenAI, Anthropic, and Google to launch AI lab focused on preventing biological threats @Kalshi on X ↗
10-23 22:30	Markets by Kinetiq	Other	OpenAI's pre-IPO price is down 10% this month while Anthropic's is down 7%. China's Moonshot says its Kimi K3.1 Pro matches Claude Opus 5.5 on Terminal-Bench for about a third of the cost. @Markets_xyz on X ↗
10-23 13:00	MEXC	Other	Get ready for our Anthropic Pre-IPO Launchpad. 👀 Complete missions and enter our lucky draw to win exclusive rewards! Prizes include ANTHROPIC(PRE), NVIDIA H200 GPU, and more! Be part of the Pre-IPO hype and get in on the action now. 👉 @MEXC on X ↗