Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0083%/8h= −9.1% APRpaid last 24h −0.041%

Price spread now: OKX against Entropy+0.543%53s7-day average −0.956% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.569% of the position

Long on Entropy Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.365%−$37 on $10k

Price spread, last 7 days−1.505%−$151 · spread now +0.543%, 7d avg −0.956%

Together, before fees−1.870%−$187 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 1.499% dearer against Entropy than usual: you sell high and buy low (spread +0.543% now, against its 7-day average of −0.956%): +$150 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.365% in total) that is about 29 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,153.1	0.0083	pay 0.0010% / 1h	11m 55s	$34.9M	$7.6M	6x
Short	OKX ANTHROPIC-USDT-SWAP	2,164.8	0	get 0.0000% / 8h	4h 11m	$4.8M	$867K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.543%Rate

Funding earned: −$17.45
Price spread: +0.543% → −0.956%: $149.92
Slippage, 4 orders: −$28.87
Fee Entropy: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: $75.59
Costs to cover: 0.569%
Break-even: from the start

Slippage from Entropy: live order book, 4 min ago; OKX: live order book, 1 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	1.16 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.23 bp	7.2 bp −$7	12.4 bp −$124	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	−0.0430%	8h	2,108.4	−2.078%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.365%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,107.2	−2.131%	$1.4M	$1.2M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.2	+0.608%	$1.9M	$947K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.2	−0.137%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAPshort	0.0000%	8h	2,164.8	+0.543%	$4.8M	$867K	10x
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.8	+0.033%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105	−2.232%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.4	−1.937%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.6	−2.115%	$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	2,164.4	+0.525%	$6.2M	$16.0M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.8	−2.150%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.5	−2.117%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.4	−2.123%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.6	−2.116%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−1.970%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.3	−2.129%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.148%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0075%	8h	2,107.6	−2.115%	$269K	$256K	20x	as long as short
Entropy io:ANTHlong	+0.0083%	1h	2,153.1	long leg	$34.9M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.4	−2.122%	$10K	$63	10x	as long as short