BANANA arbitrage explained
Right now Banana Gun (BANANA) trades on 8 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $3.94 and the highest bid on KuCoin perp at $3.94.
The widest BANANA perpetual spread is between Gate and KuCoin: long BANANA on Gate at $3.94 and short on KuCoin at $3.94 for +0.13% gross, or -0.03% 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 BANANA route is to buy spot on OKX and short the perpetual on KuCoin: -0.05% gross, -0.25% net, with +0.030% a day of funding on the short leg.
Spot–spot BANANA arbitrage (buy on OKX, withdraw, deposit and sell on MEXC) shows -0.08% 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 BANANA 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: BANANA funding rates · BANANA spread charts · Banana Gun price · arbitrage scanner for all coins.