Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Lighter against Variational Omni+2.837%7-day average +3.971% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.049%−$5 on $10k

Price spread, last 7 days+2.181%+$218 · spread now +2.837%, 7d avg +3.971%

Together, before fees+2.132%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$213 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 1.134% cheaper against Variational Omni than usual: you would sell low and buy high (−$113 if the spread goes back to its 7-day average of +3.971%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ANTHROPIC	2,106.3	0.0050	pay 0.0050% / 8h	3h 48m	$2.4M	$689K	—
Short	Lighter ANTHROPIC	2,166.1	0	get 0.0000% / 1h	48m 30s	$1.8M	$941K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now +2.837%Rate

Funding earned: −$10.5
Price spread: +2.837% → +3.971%: −$113.38
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$123.88
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter: live order book, 3 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 Variational Omni RFQ quote, 1 min ago	3.68 bp	doesn't fit	42.3 bp −$423	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.46 bp	24.2 bp −$24	104.7 bp −$1,047	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	−0.0440%	8h	2,107.5	+0.057%	$42K	$67K	20x	as long as short
Lighter ANTHROPICshort	0.0000%	1h	2,166.1	+2.837%	$1.8M	$941K	5x
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.2	+2.082%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.1	+2.742%	$4.8M	$868K	10x	as long as short
QFEX ANTHROPIC-USD	0.0000%	1h	2,105	−0.063%	$1.4M	$1.2M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,152.9	+2.213%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,103.8	−0.121%	$25.9M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,109.5	+0.150%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,104.8	−0.072%	$1.6M	$376K	10x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	+0.0008%	1h	2,123.7	+0.825%	$267K	$25K	5x	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	2,161.9	+2.638%	$6.2M	$15.7M	5x	as long as short
Entropy io:ANTH	+0.0032%	1h	2,150	+2.073%	$34.8M	$7.6M	6x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,104.5	−0.089%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,105	−0.062%	$121K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,105	−0.062%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,105	−0.064%	$7.8M	$275K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.206%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIClong	+0.0050%	8h	2,106.3	long leg	$2.4M	$689K	—
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.3	+0.044%	$10K	$154K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0073%	8h	2,104.8	−0.072%	$269K	$257K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,105	−0.063%	$10K	$63	10x	as long as short