Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.022%

Price spread now: Binance against Entropy−2.170%7-day average −3.305% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs+$55as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on Entropy Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.256%−$26 on $10k

Price spread, last 7 days−1.342%−$134 · spread now −2.170%, 7d avg −3.305%

Together, before fees−1.598%−$160 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 1.136% dearer against Entropy than usual: you sell high and buy low (spread −2.170% now, against its 7-day average of −3.305%): +$114 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,155.5	0.0122	pay 0.0015% / 1h	15m 13s	$35.1M	$7.2M	6x
Short	Binance ANTHROPICUSDT	2,108.7	0.0050	get 0.0050% / 8h	6h 15m	$32.1M	$7.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Entropy. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 EntropybpFee BinancebpOrdersPrice spread, now −2.170%Rate

Funding earned: −$15.06
Price spread: −2.170% → −3.305%: $113.59
Slippage, 4 orders: −$31.02
Fee Entropy: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: $39.51
Costs to cover: 0.590%
Break-even: from the start

Slippage from Entropy: live order book, 5 min ago; Binance: live order book, 4 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 Entropy live order book, 5 min ago	0.23 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	1.85 bp	12.7 bp −$13	35.5 bp −$355	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	−0.0407%	8h	2,110.1	−2.107%	$42K	$68K	20x	as long as short
QFEX ANTHROPIC-USD	−0.0004%	1h	2,108.6	−2.175%	$1.4M	$1.0M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,171.1	+0.724%	$1.9M	$835K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,151.6	−0.180%	$2.3M	$386K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,166.9	+0.529%	$4.8M	$782K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,156	+0.023%	$2.4M	$996K	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,106.5	−2.272%	$25.9M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,113.2	−1.962%	—	$1.8M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.8	−2.165%	$1.6M	$362K	10x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	+0.0008%	1h	2,117.9	−1.743%	$267K	$26K	5x	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	2,165.2	+0.450%	$6.3M	$16.6M	5x	as long as short
BloFin ANTHROPIC-USDT	+0.0046%	8h	2,107.8	−2.212%	$272K	$252K	20x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,108.1	−2.199%	$10K	$11K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,108.9	−2.160%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDTshort	+0.0050%	8h	2,108.7	−2.170%	$32.1M	$7.4M	20x
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,108.5	−2.180%	$7.8M	$257K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,116.9	−1.790%	$499K	$164K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,108.3	−2.192%	$2.3M	$629K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,108.3	−2.188%	$10K	$181K	10x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,108.3	−2.189%	$10K	$63	10x	as long as short
Entropy io:ANTHlong	+0.0122%	1h	2,155.5	long leg	$35.1M	$7.2M	6x