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Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.042%
Price spread now: Entropy against Bybit+0.525%7-day average +1.319% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$165as in the Price arb table
costs, in and out, $10k−$850.853% of the position
Long on BybitShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 7 days+0.367%+$37 on $10k
Price spread, last 7 days+1.319%+$132 · spread now +0.525%, 7d avg +1.319%
Together, before fees+1.686%+$169 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 0.794% cheaper against Bybit than usual: you would sell low and buy high (spread +0.525% now, against its 7-day average of +1.319%). If the spread goes back, that is −$79 on $10k: about 19 days of funding at the current rate (+$4 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit ANTHROPICUSDT2,1500get 0.0000% / 8h5h 50m$2.4M$362K25x
ShortEntropy io:ANTH2,161.30.0138get 0.0017% / 1h50m 40s$35.2M$7.5M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against Bybit. 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

Funding earned
$28.88
Price spread: +0.525% → +1.319%
−$79.4
Slippage, 4 orders
−$56.34
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$135.85
Costs to cover
0.853%
Break-even
39.9 days
Slippage from Bybit: live order book, 1 min ago; Entropy: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago6.44 bp15.0 bp −$15doesn't fitdoesn't fitdoesn't fit
Sell Entropy live order book, 6 min ago0.23 bp17.6 bp −$18doesn't fitdoesn't fitdoesn't fit

ANTHROPIC on 20 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ANTHROPIC-USDT−0.0388%8h2,104.8−2.101%$41K$67K20xas long as short
Coinbase International ANTHROPIC-PERP-INTX−0.0144%1h2,123.7−1.224%$267K$25K5xas long as short
QFEX ANTHROPIC-USD−0.0004%1h2,103.6−2.160%$1.4M$1.3M10xas long as short
Lighter ANTHROPIC0.0000%1h2,166.6+0.771%$1.9M$873K5xas long as short
Bybit ANTHROPICUSDTlong0.0000%8h2,150long leg$2.4M$362K25x
OKX ANTHROPIC-USDT-SWAP0.0000%8h2,166.2+0.753%$4.8M$954K10xas long as short
Gate ANTHROPIC_USDT0.0000%8h2,151.5+0.071%$2.4M$1.1M50xas long as short
Bitget ANTHROPICUSDT0.0000%8h2,101.6−2.253%$25.7M$3.0M20xas long as short
SunX ANTHROPIC-USDT0.0000%8h2,107.1−1.996%—$2.4M10xas long as short
Phemex ANTHROPICUSDT0.0000%8h2,104.7−2.110%$1.6M$372K10xas long as short
Show all 20 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH ANTHROPIC+0.0032%1h2,169.1+0.887%$6.2M$15.9M5xas long as short
Extended ANTHROP-USD+0.0048%1h2,103.2−2.176%$19K$22K10xas long as short
Aster ANTHROPICUSDT+0.0050%8h2,103.9−2.144%$122K$6K10xas long as short
Binance ANTHROPICUSDT+0.0050%8h2,103.8−2.148%$31.9M$8.1M20xas long as short
MEXC ANTHROPIC_USDT+0.0050%8h2,103.5−2.164%$7.8M$276K50xas long as short
KuCoin ANTHROPICUSDTM+0.0050%8h2,114.6−1.646%$478K$20K20xas long as short
Variational Omni ANTHROPIC+0.0050%8h2,103.1−2.183%$2.4M$679K—as long as short
GRVT ANTHROPIC_USDT_Perp+0.0050%8h2,103.4−2.166%$10K$147K10xas long as short
Aevo ANTHROPIC-PERP+0.0104%1h2,102.8−2.198%$10K—10xas long as short
Entropy io:ANTHshort+0.0138%1h2,161.3+0.525%$35.2M$7.5M6x