AUCTION arbitrage explained
Right now Bounce (AUCTION) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $3.68 and the highest bid on Binance spot at $3.69.
The widest AUCTION perpetual spread is between Binance and Bybit: long AUCTION on Binance at $3.68 and short on Bybit at $3.69 for +0.11% gross, or -0.05% 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 0.000% 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 OKX and short the perpetual on Bybit: -0.03% gross, -0.23% net, with +0.030% a day of funding on the short leg.
Spot–spot AUCTION arbitrage (buy on OKX, withdraw, deposit and sell on Binance) 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 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.