Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0031%/8h= −3.4% APRpaid last 24h −0.026%

Price spread now: Variational Omni against Entropy−2.115%7-day average −3.363% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Entropy Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.094%−$9 on $10k

Price spread, last 7 days−1.420%−$142 · spread now −2.115%, 7d avg −3.363%

Together, before fees−1.514%+ Points / potential airdropVariational Omni: Active · farm board−$151 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 1.248% dearer against Entropy than usual: you sell high and buy low (spread −2.115% now, against its 7-day average of −3.363%): +$125 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4 months. At the pace of the last 3 days (−0.094% in total) that is about 46 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,152.7	0.0081	pay 0.0010% / 1h	8m 41s	$34.9M	$7.6M	6x
Short	Variational Omni ANTHROPIC	2,107.2	0.0050	get 0.0050% / 8h	4h 08m	$2.4M	$681K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −2.115%Rate

Funding earned: −$6.5
Price spread: −2.115% → −3.363%: $124.8
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $100.3
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Entropy: live order book, 7 min ago; Variational Omni: RFQ quote, just now. Net counts fees only.

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, 7 min ago	1.16 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	3.54 bp	doesn't fit	27.6 bp −$276	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	−0.0428%	8h	2,108.5	−2.056%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.347%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.7	−2.090%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166	+0.618%	$1.9M	$950K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,149.8	−0.133%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	+0.562%	$4.8M	$864K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,155.1	+0.113%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.4	−2.199%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,112.2	−1.881%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.6	−2.048%	$1.6M	$374K	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	2,163.9	+0.520%	$6.2M	$16.1M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,107.1	−2.116%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,108	−2.078%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.7	−2.089%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.9	−2.083%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−1.952%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPICshort	+0.0050%	8h	2,107.2	−2.115%	$2.4M	$681K	—
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.2	−2.116%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0051%	8h	2,107.7	−2.089%	$270K	$257K	20x	as long as short
Entropy io:ANTHlong	+0.0081%	1h	2,152.7	long leg	$34.9M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.6	−2.093%	$10K	$63	10x	as long as short