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: Phemex against QFEX+0.026%7-day average +0.049% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Phemex

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 4 days (all we have)+0.100%+$10 · spread now +0.026%, 7d avg +0.049%

Together, before fees+0.103%+$10 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: Phemex is 0.023% cheaper against QFEX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX ANTHROPIC-USD	2,107.2	−0.0002	get 0.0000% / 1h	7m 17s	$1.4M	$1.2M	10x
Short	Phemex ANTHROPICUSDT	2,107.7	0	get 0.0000% / 8h	4h 07m	$1.6M	$375K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0.44
Price spread: +0.026% → +0.049%: −$2.28
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$23.84
Costs to cover: 0.220%
Break-even: 389.1 days

Slippage unknown: QFEX: live order book, 4 min ago; Phemex: live order book, 1 min ago. Net counts fees only.

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, 4 min ago	1.92 bp	7.6 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	8.07 bp	doesn't fit	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	−0.0430%	8h	2,107.8	+0.029%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	+0.785%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USDlong	−0.0002%	1h	2,107.2	long leg	$1.4M	$1.2M	10x
Lighter ANTHROPIC	0.0000%	1h	2,166.1	+2.797%	$1.9M	$952K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.6	+2.060%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,165.1	+2.749%	$4.8M	$865K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,154.9	+2.265%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,105.2	−0.093%	$26.0M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.7	+0.215%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDTshort	0.0000%	8h	2,107.7	+0.026%	$1.6M	$375K	10x

Show all 21 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH ANTHROPIC	+0.0032%	1h	2,163.9	+2.692%	$6.2M	$16.1M	5x	as long as short
BloFin ANTHROPIC-USDT	+0.0044%	8h	2,107.4	+0.009%	$269K	$257K	20x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	−0.021%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.5	+0.017%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.3	+0.007%	$32.0M	$8.1M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.5	+0.014%	$7.8M	$279K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.167%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIC	+0.0050%	8h	2,107.2	0.000%	$2.4M	$681K	—	as long as short
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,107.2	−0.001%	$10K	$151K	10x	as long as short
Entropy io:ANTH	+0.0080%	1h	2,152.5	+2.151%	$34.9M	$7.6M	6x	as long as short
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.3	+0.004%	$10K	$63	10x	as long as short