ALICE arbitrage explained
Right now My Neighbor Alice (ALICE) trades on 8 venues we scan: 8 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $0.1815 and the highest bid on MEXC spot at $0.1818.
The widest ALICE perpetual spread is between KuCoin and Bitget: long ALICE on KuCoin at $0.1815 and short on Bitget at $0.1817 for +0.11% gross, or -0.05% 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 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ALICE route is to buy spot on Gate and short the perpetual on Bitget: +0.09% gross, -0.11% net, with +0.030% a day of funding on the short leg.
Spot–spot ALICE arbitrage (buy on Gate, withdraw, deposit and sell on MEXC) shows +0.12% 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 ALICE 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: ALICE funding rates · ALICE spread charts · My Neighbor Alice price · arbitrage scanner for all coins.