AUCTION arbitrage explained
Right now Bounce (AUCTION) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $3.62 and the highest bid on Bitget spot at $3.63.
The widest AUCTION perpetual spread is between MEXC and Variational: long AUCTION on MEXC at $3.62 and short on Variational at $3.63 for +0.16% gross, or +0.00% 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 +0.070% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best AUCTION route is to buy spot on Binance and short the perpetual on Variational: -0.06% gross, -0.26% net, with +0.030% a day of funding on the short leg.
Spot–spot AUCTION arbitrage (buy on Binance, withdraw, deposit and sell on Bitget) shows -0.06% 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 AUCTION 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: AUCTION funding rates · AUCTION spread charts · Bounce price · arbitrage scanner for all coins.