2Z arbitrage explained
Right now DoubleZero (2Z) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0382 and the highest bid on Gate spot at $0.0383.
The widest 2Z perpetual spread is between Gate and Bybit: long 2Z on Gate at $0.0382 and short on Bybit at $0.0382 for +0.13% gross, or -0.03% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.035% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best 2Z route is to buy spot on KuCoin and short the perpetual on Bybit: -0.13% gross, -0.33% net, with -0.031% a day of funding on the short leg.
Spot–spot 2Z arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows +0.03% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small 2Z gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: 2Z funding rates · 2Z spread charts · DoubleZero price · arbitrage scanner for all coins.