ANTHROPIC

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0123%/8h= −13.4% APRnext payment −$0.15 per $10,000 · paid last 24h −0.043%

Price spread now: QFEX against Entropy−2.240%7-day average −3.422% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$71as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Entropy Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.146%−$15 on $10k

Price spread, last 7 days−1.809%−$181 · spread now −2.240%, 7d avg −3.422%

Together, before fees−1.956%−$196 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 1.182% dearer against Entropy than usual: you sell high and buy low (spread −2.240% now, against its 7-day average of −3.422%): +$118 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 32 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:ANTH	2,162	0.0121	pay 0.0015% / 1h	12m 16s	$35.2M	$7.7M	6x
Short	QFEX ANTHROPIC-USD	2,113.6	−0.0002	pay 0.0000% / 1h	12m 16s	$1.4M	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −2.240%Rate

Funding earned: −$25.74
Price spread: −2.240% → −3.422%: $118.22
Slippage, 4 orders: −$18.78
Fee Entropy: 9 bp × 2 orders: −$18
Fee QFEX: 5 bp × 2 orders: −$10
Net: $45.7
Costs to cover: 0.468%
Break-even: from the start

Slippage from Entropy: live order book, 5 min ago; QFEX: live order book, 4 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	0.23 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.61 bp	7.8 bp −$8	14.6 bp −$146	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
Coinbase International ANTHROPIC-PERP-INTX	−0.0376%	1h	2,123.7	−1.771%	$267K	$26K	5x	as long as short
HTX ANTHROPIC-USDT	−0.0276%	8h	2,116.4	−2.111%	$42K	$70K	20x	as long as short
QFEX ANTHROPIC-USDshort	−0.0002%	1h	2,113.6	−2.240%	$1.4M	$1.5M	10x
Lighter ANTHROPIC	0.0000%	1h	2,172.2	+0.472%	$1.9M	$879K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,161.4	−0.026%	$2.4M	$381K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,175	+0.601%	$4.8M	$1.1M	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,160.8	−0.054%	$2.5M	$1.2M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,109.7	−2.420%	$25.9M	$3.2M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,117.1	−2.077%	—	$2.6M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,116.9	−2.086%	$1.6M	$378K	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	2,174.2	+0.564%	$6.3M	$17.3M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,113.4	−2.249%	$19K	$38K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,113.7	−2.234%	$123K	$7K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,114.1	−2.216%	$32.0M	$8.3M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,114.6	−2.194%	$7.8M	$280K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,120.1	−1.940%	$478K	$21K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,108	−2.497%	$2.3M	$515K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.7	−2.510%	$10K	$157K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0074%	8h	2,113.2	−2.259%	$268K	$260K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,114.2	−2.210%	$10K	—	10x	as long as short
Entropy io:ANTHlong	+0.0121%	1h	2,162	long leg	$35.2M	$7.7M	6x