Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.026%

Price spread now: MEXC against Entropy−2.095%7-day average −3.350% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs+$96as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Entropy Short on MEXC

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−1.430%−$143 · spread now −2.095%, 7d avg −3.350%

Together, before fees−1.690%−$169 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 1.255% dearer against Entropy than usual: you sell high and buy low (spread −2.095% now, against its 7-day average of −3.350%): +$126 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 7 days (−0.260% in total) that is about 34 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,152.9	0.0082	pay 0.0010% / 1h	10m 24s	$34.9M	$7.6M	6x
Short	MEXC ANTHROPIC_USDT	2,107.8	0.0050	get 0.0050% / 8h	4h 10m	$7.8M	$279K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −2.095%Rate

Funding earned: −$6.73
Price spread: −2.095% → −3.350%: $125.52
Slippage, 4 orders: −$11.6
Fee Entropy: 9 bp × 2 orders: −$18
Fee MEXC: 0 bp × 2 orders: $0
Net: $89.19
Costs to cover: 0.296%
Break-even: from the start

Slippage from Entropy: live order book, 5 min ago; MEXC: live order book, 2 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, 5 min ago	1.16 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	0.83 bp	1.8 bp −$2	4.1 bp −$41	217.9 bp −$21.8K	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	−0.0429%	8h	2,108.4	−2.069%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.356%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.3	−2.120%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.1	+0.613%	$1.9M	$948K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.2	−0.125%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.7	+0.548%	$4.8M	$864K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,154.5	+0.074%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.1	−2.219%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.8	−1.909%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.6	−2.106%	$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	2,164	+0.516%	$6.2M	$16.1M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	−2.145%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.4	−2.112%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.3	−2.116%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDTshort	+0.0050%	8h	2,107.8	−2.095%	$7.8M	$279K	50x
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−1.961%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.2	−2.124%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.139%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0074%	8h	2,107.7	−2.098%	$269K	$256K	20x	as long as short
Entropy io:ANTHlong	+0.0082%	1h	2,152.9	long leg	$34.9M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.4	−2.113%	$10K	$63	10x	as long as short