Funding arb · Price arb /

ANTHROPIC

RWAall ANTHROPIC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.026%

Price spread now: Entropy against Variational Omni+2.254%7-day average +3.363% · you sell dearer than you buy

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

Long on Variational Omni Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.094%+$9 on $10k

Price spread, last 7 days+1.281%+$128 · spread now +2.254%, 7d avg +3.363%

Together, before fees+1.375%+ Points / potential airdropVariational Omni: Active · farm board+$137 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 1.109% cheaper against Variational Omni than usual: you would sell low and buy high (spread +2.254% now, against its 7-day average of +3.363%). If the spread goes back, that is −$111 on $10k: about 4 months of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.094% in total) that is about 41 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ANTHROPIC	2,106.5	0.0050	pay 0.0050% / 8h	4h 36m	$2.4M	$681K	—
Short	Entropy io:ANTH	2,154	0.0081	get 0.0010% / 1h	36m 44s	$35.0M	$7.6M	6x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Variational Omni. 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 Variational OmnibpFee EntropybpOrdersPrice spread, now +2.254%Rate

Funding earned: $6.5
Price spread: +2.254% → +3.363%: −$110.9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$122.41
Costs to cover: 0.180%
Break-even: 138.9 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Entropy: live order book, just now. 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 Variational Omni RFQ quote, 2 min ago	2.11 bp	doesn't fit	33.1 bp −$331	doesn't fit	doesn't fit
Sell Entropy live order book, just now	1.63 bp	11.8 bp −$12	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	−0.0414%	8h	2,107.7	+0.055%	$42K	$67K	20x	as long as short
Coinbase International ANTHROPIC-PERP-INTX	−0.0280%	1h	2,123.7	+0.816%	$267K	$25K	5x	as long as short
QFEX ANTHROPIC-USD	−0.0002%	1h	2,106.8	+0.012%	$1.4M	$1.3M	10x	as long as short
Lighter ANTHROPIC	0.0000%	1h	2,166.1	+2.829%	$1.9M	$924K	5x	as long as short
Bybit ANTHROPICUSDT	0.0000%	8h	2,150.6	+2.092%	$2.4M	$351K	25x	as long as short
OKX ANTHROPIC-USDT-SWAP	0.0000%	8h	2,164.7	+2.762%	$4.8M	$867K	10x	as long as short
Gate ANTHROPIC_USDT	0.0000%	8h	2,153.9	+2.248%	$2.4M	$1.1M	50x	as long as short
Bitget ANTHROPICUSDT	0.0000%	8h	2,104	−0.119%	$25.9M	$3.0M	20x	as long as short
SunX ANTHROPIC-USDT	0.0000%	8h	2,111.3	+0.227%	—	$2.4M	10x	as long as short
Phemex ANTHROPICUSDT	0.0000%	8h	2,108.1	+0.073%	$1.6M	$378K	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	+2.805%	$6.2M	$15.8M	5x	as long as short
Extended ANTHROP-USD	+0.0048%	1h	2,106.7	+0.009%	$19K	$22K	10x	as long as short
Aster ANTHROPICUSDT	+0.0050%	8h	2,107.4	+0.040%	$122K	$6K	10x	as long as short
Binance ANTHROPICUSDT	+0.0050%	8h	2,107.2	+0.034%	$32.0M	$8.2M	20x	as long as short
MEXC ANTHROPIC_USDT	+0.0050%	8h	2,107.3	+0.035%	$7.8M	$277K	50x	as long as short
KuCoin ANTHROPICUSDTM	+0.0050%	8h	2,110.7	+0.198%	$477K	$20K	20x	as long as short
Variational Omni ANTHROPIClong	+0.0050%	8h	2,106.5	long leg	$2.4M	$681K	—
GRVT ANTHROPIC_USDT_Perp	+0.0050%	8h	2,105.8	−0.033%	$10K	$149K	10x	as long as short
BloFin ANTHROPIC-USDT	+0.0072%	8h	2,107.1	+0.026%	$269K	$256K	20x	as long as short
Entropy io:ANTHshort	+0.0081%	1h	2,154	+2.254%	$35.0M	$7.6M	6x
Aevo ANTHROPIC-PERP	+0.0104%	1h	2,107.1	+0.029%	$10K	$63	10x	as long as short