Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.041%

Price spread now: Bybit against Coinbase International+1.446%7-day average +1.939% · you sell dearer than you buy

Net, funding: paid 7d − costs−$181as in the Funding arb table

Net, price: spread back to 7d avg − costs−$227as in the Price arb table

costs, in and out, $10k−$1781.777% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 4 days (all we have)−0.205%−$21 · spread now +1.446%, 7d avg +1.939%

Together, before fees−0.238%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.492% cheaper against Coinbase International than usual: you would sell low and buy high (spread +1.446% now, against its 7-day average of +1.939%). If the spread goes back, that is −$49 on $10k: about 2 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ANTHROPIC-PERP-INTX	2,121.3	−0.0024	get 0.0003% / 1h	26m 37s	$268K	$26K	5x
Short	Bybit ANTHROPICUSDT	2,152	0	get 0.0000% / 8h	5h 26m	$2.3M	$377K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +1.446%Rate

Funding earned: $5.04
Price spread: +1.446% → +1.939%: −$49.23
Slippage, 4 orders: −$156.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$221.85
Costs to cover: 1.777%
Break-even: 315.1 days

Slippage from Coinbase International: live order book, 19 min ago; Bybit: live order book, 3 min ago.

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 Coinbase International live order book, 19 min ago	17.19 bp	41.3 bp −$41	60.0 bp −$600	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	29.06 bp	67.4 bp −$67	290.9 bp −$2,909	doesn't fit	doesn't fit

ANTHROPIC on 21 exchanges

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	−0.0377%	8h	2,110.7	−0.501%	$42K	$69K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTXlong	−0.0024%	1h	2,121.3	long leg	$268K	$26K	5x
QFEX ANTHROPIC-USD	−0.0004%	1h	2,110	−0.535%	$1.4M	$1.0M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,169	+2.248%	$1.9M	$842K	5x	as long as short
Bybit ANTHROPICUSDTshort	0.0000%	8h	2,152	+1.446%	$2.3M	$377K	25x
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,166.4	+2.125%	$4.8M	$675K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,156.2	+1.646%	$2.5M	$991K	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,108.9	−0.584%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,113.8	−0.354%	—	$1.7M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,111.3	−0.474%	$1.6M	$354K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,163.6	+1.993%	$6.1M	$16.7M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,109.3	−0.566%	$10K	$11K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,109.6	−0.553%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,110	−0.533%	$32.1M	$7.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,110.2	−0.523%	$7.8M	$246K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,118	−0.159%	$499K	$218K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,109.8	−0.544%	$2.3M	$672K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,110.3	−0.520%	$10K	$189K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0071%	8h	2,110.4	−0.515%	$274K	$246K	20x	as long as short
Entropy io:ANTH	+0.0097%	1h	2,154.8	+1.578%	$35.1M	$7.0M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,110.5	−0.510%	$10K	$63	10x	as long as short