Funding arb · Price arb / RWA

ANTHROPIC

RWAAll ANTHROPIC markets →

LONGPolymarket Perps▾Polymarket Perps +0.3180%

⇄⇅

SHORTPhoenix▾Phoenix +0.0418%

Backtest 30d

☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Polymarket PerpsANT-USD	1,732.6	+0.3180	pay 0.0398% / 1h	6m 36s	$365K	$3.9M	10x	Long Polymarket Perps
SHORT	PhoenixANTHROPIC	1,735.8	+0.0418	get 0.0052% / 1h	6m 36s	$923K	$75K	6x	Short Phoenix

Price gap+0.185%60s

Funding gap−0.2763% /8h

Funding costs $83 a day on $10k at the current rate. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +1.026% in total, about +0.0488%/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+0.185%

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

Polymarket PerpsPhoenix

ANTHROPIC on 29 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

• !
  Watch: Thin at this size10.4 / 29.6 bp

  At $10k entering Phoenix costs 29.6 bp, fee and slippage, 2.8× Polymarket Perps’s.
• i
  Note: Margin at max leverage$1,000 + $1,667

  Polymarket Perps 10x, Phoenix 6x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Polymarket Perps · 1h−$95.41

  Short Phoenix · 1h+$12.53

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

  Next 24h at the current rates, on $10k a leg: −$82.88Long Polymarket Perps: 24 payments, −$95.41; short Phoenix: 24 payments, +$12.53.
• !
  Watch: Prices read 60 s apart+0.185% vs +0.182%

  Part of this gap may be the market moving.
• !
  Watch: Long leg is thinner$365K vs $923K OI

  Polymarket Perps 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 legPolymarket Perps No · Phoenix 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+0.0488%/8h × 21 periods+$102.56

Price spreadprices read too far apart to compare—

Slippage, 4 orderslive order books−$68.23

Fee Polymarket Perps bp × 2 orders−$8.00

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k+$19.33

price spread not counted: prices read too far apart

Costs to cover0.832%Break-even5.7 days

Slippage: Polymarket Perps: live order book, 5 min ago; Phoenix: live order book, 4 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPolymarket Perps5.4710.4 bp−$1019.3 bp−$193doesn’t fitdoesn’t fit

SELL · SHORTPhoenix2.8829.6 bp−$30214.9 bp−$2,149doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

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

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FundingPrice spread

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ANTHROPIC news

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11-05 15:49	Entropy	Other	Anthropic fell ~5% on Entropy from $1,850 to $1,750, an implied $1.75T, as US chip stocks sold off at the open, with AMD down 15% and Nvidia nearly 8%. @entropyIO on X ↗
11-05 15:17	Polymarket Perps	Other	Think in billions, not shares.‍‍‍ A move from 1,820 to 1,830 on $ANT represents a $10B increase in Anthropic's implied valuation. Trade $ANT on Polymarket Perps with a 3× volume boost in the $50K Competition👇 @Poly_Perps on X ↗
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