Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h +0.019%

Price spread now: BloFin against QFEX+0.001%99s7-day average +0.011% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.339% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.054%+$5 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now +0.001%, 7d avg +0.011%

Together, before fees+0.082%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 99 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX ANTHROPIC-USD	2,107.7	−0.0002	get 0.0000% / 1h	9m 34s	$1.4M	$1.2M	10x
Short	BloFin ANTHROPIC-USDT	2,107.7	0.0074	get 0.0074% / 8h	4h 09m	$269K	$256K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against QFEX. 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 QFEXbpFee BloFinbpOrdersPrice spread, now +0.001%Rate

Funding earned: $16.04
Price spread: +0.001% → +0.011%: −$1
Slippage, 4 orders: −$11.89
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.86
Costs to cover: 0.339%
Break-even: 15.2 days

Slippage from QFEX: live order book, 2 min ago; BloFin: 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 QFEX live order book, 2 min ago	1.92 bp	7.6 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell BloFin live order book, 22 min ago	0.66 bp	7.8 bp −$8	doesn't fit	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	−0.0428%	8h	2,108.5	+0.035%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	+0.759%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USDlong	−0.0002%	1h	2,107.7	long leg	$1.4M	$1.2M	10x
Lighter ANTHROPIC	0.0000%	1h	2,166.1	+2.770%	$1.9M	$950K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150	+2.005%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.8	+2.709%	$4.8M	$865K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,155.2	+2.255%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.4	−0.111%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.3	+0.170%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.5	+0.037%	$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	+2.671%	$6.2M	$16.1M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,107.2	−0.026%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.9	+0.010%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.7	+0.002%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,108	+0.012%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.141%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.2	−0.026%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.2	−0.026%	$10K	$151K	10x	as long as short
BloFin ANTHROPIC-USDTshort	+0.0074%	8h	2,107.7	+0.001%	$269K	$256K	20x
Entropy io:ANTH	+0.0082%	1h	2,152.8	+2.139%	$34.9M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.4	−0.015%	$10K	$63	10x	as long as short