ANSEM arbitrage explained
Right now The Black Bull (ANSEM) trades on 4 venues we scan: 3 perpetual markets, 2 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.1402 and the highest bid on MEXC perp at $0.1405.
The widest ANSEM perpetual spread is between Gate and MEXC: long ANSEM on Gate at $0.141 and short on MEXC at $0.1405 for -0.35% gross, or -0.51% 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 -0.100% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ANSEM route is to buy spot on KuCoin and short the perpetual on MEXC: +0.21% gross, +0.01% net, with -0.070% a day of funding on the short leg.
Spot–spot ANSEM arbitrage (buy on KuCoin, withdraw, deposit and sell on MEXC) shows +0.21% 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 ANSEM 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: ANSEM funding rates · ANSEM spread charts · The Black Bull price · arbitrage scanner for all coins.