B3 arbitrage explained
Right now B3 (Base) (B3) trades on 6 venues we scan: 4 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.000728 and the highest bid on Variational perp at $0.000731.
The widest B3 perpetual spread is between Bybit and Variational: long B3 on Bybit at $0.000728 and short on Variational at $0.000731 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 +0.042% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best B3 route is to buy spot on Bybit and short the perpetual on Variational: +0.40% gross, +0.20% net, with +0.030% a day of funding on the short leg.
Spot–spot B3 arbitrage (buy on Bybit, withdraw, deposit and sell on KuCoin) shows -0.18% 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 B3 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: B3 funding rates · B3 spread charts · B3 (Base) price · arbitrage scanner for all coins.