ARKM arbitrage explained
Right now Arkham (ARKM) trades on 9 venues we scan: 8 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $0.126 and the highest bid on Gate spot at $0.1262.
The widest ARKM perpetual spread is between KuCoin and Bybit: long ARKM on KuCoin at $0.126 and short on Bybit at $0.126 for +0.03% gross, or -0.13% 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 -0.187% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ARKM route is to buy spot on Binance and short the perpetual on Bybit: -0.21% gross, -0.41% net, with -0.157% a day of funding on the short leg.
Spot–spot ARKM arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows -0.07% 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 ARKM 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: ARKM funding rates · ARKM spread charts · Arkham price · arbitrage scanner for all coins.