Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.026%

Price spread now: KuCoin against Entropy−2.002%7-day average −2.547% · you buy dearer than you sell

Net, funding: paid 7d − costs−$661as in the Funding arb table

Net, price: spread back to 7d avg − costs−$581as in the Price arb table

costs, in and out, $10k−$6356.352% of the position

Long on Entropy Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 4 days (all we have)−1.226%−$123 · spread now −2.002%, 7d avg −2.547%

Together, before fees−1.486%−$149 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.545% dearer against Entropy than usual: you sell high and buy low (spread −2.002% now, against its 7-day average of −2.547%): +$55 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.260% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,153.8	0.0080	pay 0.0010% / 1h	33m 13s	$35.0M	$7.6M	6x
Short	KuCoin ANTHROPICUSDTM	2,110.7	0.0050	get 0.0050% / 8h	4h 33m	$477K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.002%Rate

Funding earned: −$6.26
Price spread: −2.002% → −2.547%: $54.53
Slippage, 4 orders: −$605.18
Fee Entropy: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$586.91
Costs to cover: 6.352%
Break-even: never at this rate

Slippage from Entropy: live order book, 4 min ago; KuCoin: live order book, 50 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, 4 min ago	1.63 bp	12.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 50 min ago	12.85 bp	148.3 bp −$148	doesn't fit	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	−0.0422%	8h	2,107.8	−2.135%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.397%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107	−2.174%	$1.4M	$1.3M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,165.8	+0.557%	$1.9M	$930K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.4	−0.158%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	+0.511%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.8	−0.002%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,104.6	−2.284%	$26.0M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.3	−1.973%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.9	−2.132%	$1.6M	$379K	10x	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	2,165.6	+0.548%	$6.2M	$15.8M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	−2.186%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.3	−2.158%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.2	−2.162%	$32.0M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.3	−2.159%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTMshort	+0.0050%	8h	2,110.7	−2.002%	$477K	$20K	20x
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.9	−2.177%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.1	−2.215%	$10K	$150K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0080%	8h	2,107.2	−2.162%	$269K	$256K	20x	as long as short
Entropy io:ANTHlong	+0.0080%	1h	2,153.8	long leg	$35.0M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.1	−2.166%	$10K	$63	10x	as long as short