Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.015%

Price spread now: KuCoin against QFEX+0.374%7-day average +0.317% · 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−$766as in the Price arb table

costs, in and out, $10k−$7727.721% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.374%, 7d avg +0.317%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.057% dearer against QFEX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.317%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX ANTHROPIC-USD	2,110.7	−0.0004	get 0.0000% / 1h	42m 50s	$1.4M	$1.0M	10x
Short	KuCoin ANTHROPICUSDTM	2,118.6	0.0050	get 0.0050% / 8h	5h 42m	$499K	$200K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.374%Rate

Funding earned: $11.29
Price spread: +0.374% → +0.317%: $5.75
Slippage, 4 orders: −$750.11
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$755.08
Costs to cover: 7.721%
Break-even: 475.2 days

Slippage from QFEX: live order book, 1 min ago; KuCoin: live order book, 62 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, 1 min ago	1.47 bp	7.3 bp −$7	13.6 bp −$136	doesn't fit	doesn't fit
Sell KuCoin live order book, 62 min ago	17.00 bp	97.8 bp −$98	doesn't fit	doesn't fit	doesn't fit

ANTHROPIC on 21 exchanges

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	−0.0384%	8h	2,110.9	+0.008%	$42K	$69K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0024%	1h	2,117.9	+0.343%	$267K	$26K	5x	as long as short
QFEX ANTHROPIC-USDlong	−0.0004%	1h	2,110.7	long leg	$1.4M	$1.0M	10x
Lighter ANTHROPIC	0.0000%	1h	2,169.4	+2.781%	$1.9M	$841K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,151.9	+1.954%	$2.3M	$381K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,167.5	+2.691%	$4.8M	$688K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,157.2	+2.204%	$2.5M	$986K	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,108.8	−0.090%	$26.0M	$3.1M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,114.9	+0.199%	—	$1.7M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,110.9	+0.008%	$1.6M	$359K	10x	as long as short

Show all 21 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,164.4	+2.544%	$6.2M	$16.5M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,109.9	−0.040%	$10K	$11K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,110.1	−0.030%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,110.5	−0.010%	$32.2M	$7.4M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,110.3	−0.020%	$7.8M	$245K	50x	as long as short
KuCoin ANTHROPICUSDTMshort	+0.0050%	8h	2,118.6	+0.374%	$499K	$200K	20x
Variational Omni ANTHROPIC	+0.0050%	8h	2,109.8	−0.041%	$2.3M	$661K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,109.9	−0.037%	$10K	$186K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0071%	8h	2,110.9	+0.009%	$274K	$247K	20x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,110.3	−0.021%	$10K	$63	10x	as long as short
Entropy io:ANTH	+0.0110%	1h	2,155.3	+2.113%	$35.1M	$7.1M	6x	as long as short