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Funding arb · Price arb /

ANTHROPIC

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Alert: spread
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Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.041%
Price spread now: Entropy against Gate−0.170%7-day average +1.230% · you buy dearer than you sell
Net, funding: paid 7d − costs−$156as in the Funding arb table
Net, price: spread back to 7d avg − costs−$332as in the Price arb table
costs, in and out, $10k−$1921.919% of the position
Long on GateShort on Entropy
What this pair did over the last
the charts below follow
Funding, last 7 days+0.364%+$36 on $10k
Price spread, last 7 days+1.774%+$177 · spread now −0.170%, 7d avg +1.230%
Together, before fees+2.138%+$214 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 1.399% cheaper against Gate than usual: you would sell low and buy high (spread −0.170% now, against its 7-day average of +1.230%). If the spread goes back, that is −$140 on $10k: about 3 months of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.364% in total) that is about 27 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ANTHROPIC_USDT2,153.40get 0.0000% / 8h3h 43m$2.4M$1.1M50x
ShortEntropy io:ANTH2,149.70.0050get 0.0006% / 1h43m 13s$34.8M$7.6M6x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Entropy against Gate. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$10.45
Price spread: −0.170% → +1.230%
−$139.95
Slippage, 4 orders
−$158.91
Fee Gate: 7.5 bp × 2 orders
−$15
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$321.41
Costs to cover
1.919%
Break-even
222.2 days
Slippage from Gate: live order book, 5 min ago; Entropy: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 5 min ago7.36 bp118.4 bp −$118doesn't fitdoesn't fitdoesn't fit
Sell Entropy live order book, 4 min ago0.23 bp10.5 bp −$11doesn't fitdoesn't fitdoesn't fit

ANTHROPIC on 21 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ANTHROPIC-USDT−0.0448%8h2,106−2.199%$42K$67K20xas long as short
Lighter ANTHROPIC0.0000%1h2,166.2+0.596%$1.8M$945K5xas long as short
Bybit ANTHROPICUSDT0.0000%8h2,151.6−0.083%$2.4M$351K25xas long as short
OKX ANTHROPIC-USDT-SWAP0.0000%8h2,164.3+0.508%$4.8M$870K10xas long as short
QFEX ANTHROPIC-USD0.0000%1h2,105.5−2.224%$1.4M$1.2M10xas long as short
Gate ANTHROPIC_USDTlong0.0000%8h2,153.4long leg$2.4M$1.1M50x
Bitget ANTHROPICUSDT0.0000%8h2,104.6−2.264%$26.0M$3.1M20xas long as short
SunX ANTHROPIC-USDT0.0000%8h2,110−2.014%—$2.4M10xas long as short
Phemex ANTHROPICUSDT0.0000%8h2,105−2.246%$1.6M$375K10xas long as short
Coinbase International ANTHROPIC-PERP-INTX+0.0008%1h2,123.7−1.377%$267K$25K5xas long as short
Show all 21 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter RH ANTHROPIC+0.0032%1h2,161.1+0.359%$6.2M$15.7M5xas long as short
BloFin ANTHROPIC-USDT+0.0047%8h2,105.7−2.215%$269K$257K20xas long as short
Extended ANTHROP-USD+0.0048%1h2,105−2.246%$19K$22K10xas long as short
Entropy io:ANTHshort+0.0050%1h2,149.7−0.170%$34.8M$7.6M6x
Aster ANTHROPICUSDT+0.0050%8h2,105.6−2.218%$121K$6K10xas long as short
Binance ANTHROPICUSDT+0.0050%8h2,105.7−2.214%$32.0M$8.1M20xas long as short
MEXC ANTHROPIC_USDT+0.0050%8h2,105.6−2.218%$7.8M$276K50xas long as short
KuCoin ANTHROPICUSDTM+0.0050%8h2,110.7−1.982%$477K$20K20xas long as short
Variational Omni ANTHROPIC+0.0050%8h2,104.7−2.258%$2.4M$689K—as long as short
GRVT ANTHROPIC_USDT_Perp+0.0050%8h2,105.9−2.205%$10K$154K10xas long as short
Aevo ANTHROPIC-PERP+0.0104%1h2,105.4−2.227%$10K$6310xas long as short