Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0280%/8h= −30.7% APRpaid last 24h +0.062%

Price spread now: Coinbase International against Gate−1.406%7-day average −1.935% · you buy dearer than you sell

Net, funding: paid 7d − costs−$155as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1581.580% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 4 days (all we have)+0.622%+$62 · spread now −1.406%, 7d avg −1.935%

Together, before fees+0.648%+$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.529% dearer against Gate than usual: you sell high and buy low (spread −1.406% now, against its 7-day average of −1.935%): +$53 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 6.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.026% in total (about 1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ANTHROPIC_USDT	2,154	0	get 0.0000% / 8h	4h 35m	$2.4M	$1.1M	50x
Short	Coinbase International ANTHROPIC-PERP-INTX	2,123.7	−0.0280	pay 0.0035% / 1h	35m 47s	$267K	$25K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −1.406%Rate

Funding earned: −$58.8
Price spread: −1.406% → −1.935%: $52.88
Slippage, 4 orders: −$133.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$163.96
Costs to cover: 1.580%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 22 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 Gate live order book, 2 min ago	11.97 bp	48.1 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 22 min ago	30.33 bp	35.5 bp −$36	49.0 bp −$490	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	−0.0416%	8h	2,107.8	−2.146%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTXshort	−0.0280%	1h	2,123.7	−1.406%	$267K	$25K	5x
QFEX ANTHROPIC-USD	−0.0002%	1h	2,106.9	−2.185%	$1.4M	$1.3M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166	+0.557%	$1.9M	$925K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.1	−0.180%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	+0.501%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDTlong	0.0000%	8h	2,154	long leg	$2.4M	$1.1M	50x
Bitget ANTHROPICUSDT	0.0000%	8h	2,104	−2.324%	$25.9M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.1	−1.992%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.9	−2.139%	$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	2,165.6	+0.539%	$6.2M	$15.8M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	−2.196%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.4	−2.165%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.2	−2.171%	$32.0M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.3	−2.169%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−2.011%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.9	−2.186%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,105.8	−2.237%	$10K	$149K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0072%	8h	2,107.1	−2.179%	$269K	$256K	20x	as long as short
Entropy io:ANTH	+0.0081%	1h	2,154	0.000%	$35.0M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.2	−2.174%	$10K	$63	10x	as long as short