Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h 0.000%

Price spread now: QFEX against OKX−2.662%7-day average −2.444% · 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−$70as in the Price arb table

costs, in and out, $10k−$480.483% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −2.662%, 7d avg −2.444%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.219% cheaper against OKX than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of −2.444%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ANTHROPIC-USDT-SWAP	2,164.8	0	get 0.0000% / 8h	4h 11m	$4.8M	$864K	10x
Short	QFEX ANTHROPIC-USD	2,107.2	−0.0002	pay 0.0000% / 1h	11m 06s	$1.4M	$1.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against OKX. 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 OKXbpFee QFEXbpOrdersPrice spread, now −2.662%Rate

Funding earned: −$0.44
Price spread: −2.662% → −2.444%: −$21.86
Slippage, 4 orders: −$28.34
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$70.63
Costs to cover: 0.483%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; QFEX: live order book, 5 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 OKX live order book, 2 min ago	0.23 bp	24.0 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.61 bp	7.6 bp −$8	12.0 bp −$120	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	−0.0429%	8h	2,108.4	−2.608%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	−1.898%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USDshort	−0.0002%	1h	2,107.2	−2.662%	$1.4M	$1.2M	10x
Lighter ANTHROPIC	0.0000%	1h	2,166.1	+0.060%	$1.9M	$948K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.2	−0.674%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAPlong	0.0000%	8h	2,164.8	long leg	$4.8M	$864K	10x
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.8	−0.510%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105	−2.761%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.8	−2.448%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,107.6	−2.645%	$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	2,164.1	−0.032%	$6.2M	$16.0M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.8	−2.680%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.5	−2.647%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.4	−2.652%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.5	−2.647%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	−2.500%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.2	−2.662%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,106.9	−2.677%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0074%	8h	2,107.7	−2.636%	$269K	$256K	20x	as long as short
Entropy io:ANTH	+0.0083%	1h	2,153	−0.545%	$34.9M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.4	−2.651%	$10K	$63	10x	as long as short