ALGO arbitrage explained
Right now Algorand (ALGO) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on MEXC spot at $0.1197 and the highest bid on OKX spot at $0.1199.
The widest ALGO perpetual spread is between Bybit and Hyperliquid: long ALGO on Bybit at $0.1198 and short on Hyperliquid at $0.1199 for +0.10% gross, or -0.06% 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 collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ALGO route is to buy spot on MEXC and short the perpetual on Hyperliquid: +0.15% gross, -0.05% net, with +0.030% a day of funding on the short leg.
Spot–spot ALGO arbitrage (buy on MEXC, withdraw, deposit and sell on OKX) shows +0.18% 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 ALGO 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: ALGO funding rates · ALGO spread charts · Algorand price · arbitrage scanner for all coins.