ARKM arbitrage explained
Right now Arkham (ARKM) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.1258 and the highest bid on Bybit spot at $0.126.
The widest ARKM perpetual spread is between Bitget and Bybit: long ARKM on Bitget at $0.1258 and short on Bybit at $0.1258 for +0.02% gross, or -0.14% 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 -0.160% 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 OKX and short the perpetual on Bybit: -0.18% gross, -0.38% net, with -0.133% a day of funding on the short leg.
Spot–spot ARKM arbitrage (buy on OKX, withdraw, deposit and sell on Binance) shows -0.04% 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.