Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0075%/8h= −8.3% APRpaid last 24h −0.017%

Price spread now: BloFin against Entropy−2.105%7-day average −2.744% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs+$12as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on Entropy Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.266%−$27 on $10k

Price spread, last 4 days (all we have)−1.558%−$156 · spread now −2.105%, 7d avg −2.744%

Together, before fees−1.824%−$182 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.639% dearer against Entropy than usual: you sell high and buy low (spread −2.105% now, against its 7-day average of −2.744%): +$64 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,154.9	0.0098	pay 0.0012% / 1h	59m 17s	$35.1M	$7.1M	6x
Short	BloFin ANTHROPIC-USDT	2,109.5	0.0023	get 0.0023% / 8h	5h 59m	$273K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Entropy. 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 EntropybpFee BloFinbpOrdersPrice spread, now −2.105%Rate

Funding earned: −$15.85
Price spread: −2.105% → −2.744%: $63.87
Slippage, 4 orders: −$22.32
Fee Entropy: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.3
Costs to cover: 0.523%
Break-even: from the start

Slippage from Entropy: live order book, 1 min ago; BloFin: live order book, 47 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, 1 min ago	0.23 bp	17.2 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 47 min ago	1.00 bp	8.4 bp −$8	doesn't fit	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	−0.0379%	8h	2,113.3	−1.930%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0024%	1h	2,117.9	−1.715%	$267K	$26K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0004%	1h	2,108.8	−2.138%	$1.4M	$1.0M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,171	+0.747%	$1.9M	$825K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,152.3	−0.122%	$2.3M	$383K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,168.9	+0.650%	$4.8M	$779K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,156	+0.051%	$2.4M	$975K	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,106.6	−2.244%	$25.9M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,113	−1.944%	—	$1.7M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,109	−2.130%	$1.6M	$358K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin ANTHROPIC-USDTshort	+0.0023%	8h	2,109.5	−2.105%	$273K	$246K	20x
Lighter RH ANTHROPIC	+0.0032%	1h	2,165.8	+0.506%	$6.3M	$16.0M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,107.8	−2.188%	$10K	$11K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,109	−2.131%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,108.5	−2.155%	$32.1M	$7.4M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,108.8	−2.141%	$7.8M	$244K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,116.7	−1.773%	$499K	$181K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,108.8	−2.140%	$2.3M	$629K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,108.1	−2.171%	$11K	$183K	10x	as long as short
Entropy io:ANTHlong	+0.0098%	1h	2,154.9	long leg	$35.1M	$7.1M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,108	−2.178%	$10K	$63	10x	as long as short