API3 arbitrage explained
Right now Api3 (API3) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.3315 and the highest bid on OKX spot at $0.3345.
The widest API3 perpetual spread is between Gate and Variational: long API3 on Gate at $0.3315 and short on Variational at $0.3331 for +0.48% gross, or +0.32% 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 +0.388% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best API3 route is to buy spot on KuCoin and short the perpetual on Variational: -0.45% gross, -0.65% net, with -3.150% a day of funding on the short leg.
Spot–spot API3 arbitrage (buy on KuCoin, withdraw, deposit and sell on OKX) 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 API3 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: API3 funding rates · API3 spread charts · Api3 price · arbitrage scanner for all coins.