Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.014%

Price spread now: Extended against Phemex−0.072%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding pays, the price is against you. Extended is 0.072% cheaper against Phemex than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 5.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ANTHROPICUSDT	2,108.1	0	get 0.0000% / 8h	2h 08m	$1.6M	$382K	10x
Short	Extended ANTHROP-USD	2,106.6	0.0048	get 0.0006% / 1h	8m 29s	$19K	$22K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phemex. 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 PhemexbpFee ExtendedbpOrdersPrice spread, now −0.072%Rate

Funding earned: $10.08
Price spread: −0.072% → 0.000%: −$7.22
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$14.14
Costs to cover: 0.170%
Break-even: 16.8 days

Slippage unknown: Phemex: live order book, 5 min ago; Extended: no order-book sample. 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 Phemex live order book, 5 min ago	3.30 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0457%	8h	2,107.6	−0.024%	$42K	$68K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0064%	1h	2,118.4	+0.490%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0006%	1h	2,107	−0.051%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.7	+2.780%	$1.9M	$946K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,152.7	+2.116%	$2.3M	$425K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	+2.690%	$4.8M	$854K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,152.4	+2.100%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.3	−0.135%	$25.9M	$3.3M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,110.9	+0.133%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDTlong	0.0000%	8h	2,108.1	long leg	$1.6M	$382K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,162.5	+2.581%	$6.3M	$16.4M	5x	as long as short
Extended ANTHROP-USDshort	+0.0048%	1h	2,106.6	−0.072%	$19K	$22K	10x
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.1	−0.047%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.2	−0.043%	$32.1M	$8.4M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107	−0.051%	$7.8M	$278K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.125%	$498K	$25K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.7	−0.067%	$2.4M	$707K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.7	−0.065%	$10K	$160K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0062%	8h	2,107.6	−0.024%	$268K	$258K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107	−0.050%	$10K	$63	10x	as long as short
Entropy io:ANTH	+0.0121%	1h	2,152	+2.083%	$34.9M	$7.5M	6x	as long as short