Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h +0.066%

Price spread now: Coinbase International against Bybit−1.224%7-day average −1.997% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$1241.236% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 3 days (all we have)−0.570%−$57 · spread now −1.224%, 7d avg −1.997%

Together, before fees−0.541%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.774% dearer against Bybit than usual: you sell high and buy low (spread −1.224% now, against its 7-day average of −1.997%): +$77 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ANTHROPICUSDT	2,150	0	get 0.0000% / 8h	5h 47m	$2.4M	$362K	25x
Short	Coinbase International ANTHROPIC-PERP-INTX	2,123.7	−0.0144	pay 0.0018% / 1h	47m 48s	$267K	$25K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −1.224%Rate

Funding earned: −$30.24
Price spread: −1.224% → −1.997%: $77.36
Slippage, 4 orders: −$102.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$76.51
Costs to cover: 1.236%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Coinbase International: live order book, 15 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 Bybit live order book, 4 min ago	6.44 bp	15.0 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 15 min ago	29.50 bp	34.5 bp −$34	48.7 bp −$487	doesn't fit	doesn't fit

ANTHROPIC on 20 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	−0.0389%	8h	2,102.8	−2.196%	$41K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTXshort	−0.0144%	1h	2,123.7	−1.224%	$267K	$25K	5x
QFEX ANTHROPIC-USD	−0.0004%	1h	2,101.9	−2.236%	$1.4M	$1.3M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.5	+0.767%	$1.9M	$873K	5x	as long as short
Bybit ANTHROPICUSDTlong	0.0000%	8h	2,150	long leg	$2.4M	$362K	25x
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,166	+0.743%	$4.8M	$954K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,150.7	+0.033%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,100.9	−2.286%	$25.7M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,106	−2.047%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,103.1	−2.182%	$1.5M	$372K	10x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,169.1	+0.887%	$6.2M	$15.9M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,101.4	−2.261%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,102.1	−2.230%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,101.8	−2.244%	$31.9M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,101.8	−2.241%	$7.8M	$276K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,114.6	−1.646%	$478K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,103.1	−2.183%	$2.4M	$679K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,103.5	−2.164%	$10K	$147K	10x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,101.6	−2.251%	$10K	—	10x	as long as short
Entropy io:ANTH	+0.0121%	1h	2,160.9	+0.506%	$35.2M	$7.5M	6x	as long as short