Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.015%

Price spread now: QFEX against KuCoin−0.175%7-day average −0.319% · 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−$611as in the Price arb table

costs, in and out, $10k−$6256.250% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.175%, 7d avg −0.319%

Together, before fees−0.175%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.144% dearer against KuCoin than usual: you sell high and buy low (spread −0.175% now, against its 7-day average of −0.319%): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ANTHROPICUSDTM	2,110.7	0.0050	pay 0.0050% / 8h	4h 33m	$477K	$20K	20x
Short	QFEX ANTHROPIC-USD	2,107	−0.0002	pay 0.0000% / 1h	33m 22s	$1.4M	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$10.94
Price spread: −0.175% → −0.319%: $14.41
Slippage, 4 orders: −$603.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$621.55
Costs to cover: 6.250%
Break-even: never at this rate

Slippage from KuCoin: live order book, 49 min ago; QFEX: live order book, 3 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 KuCoin live order book, 49 min ago	12.85 bp	462.6 bp −$463	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	0.97 bp	6.0 bp −$6	9.9 bp −$99	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	−0.0420%	8h	2,107.8	−0.136%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	+0.617%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USDshort	−0.0002%	1h	2,107	−0.175%	$1.4M	$1.3M	10x
Lighter ANTHROPIC	0.0000%	1h	2,166	+2.621%	$1.9M	$930K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.4	+1.880%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.7	+2.559%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.8	+2.041%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,104.6	−0.289%	$26.0M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,110.7	+0.001%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.7	−0.143%	$1.6M	$379K	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	+2.602%	$6.2M	$15.8M	5x	as long as short
BloFin ANTHROPIC-USDT	+0.0043%	8h	2,107.3	−0.163%	$269K	$256K	20x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	−0.188%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.3	−0.159%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.2	−0.163%	$32.0M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.3	−0.162%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTMlong	+0.0050%	8h	2,110.7	long leg	$477K	$20K	20x
Variational Omni ANTHROPIC	+0.0050%	8h	2,106.9	−0.178%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.1	−0.217%	$10K	$150K	10x	as long as short
Entropy io:ANTH	+0.0080%	1h	2,153.8	+2.043%	$35.0M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.1	−0.168%	$10K	$63	10x	as long as short