BANANA arbitrage explained
Right now Banana Gun (BANANA) trades on 8 venues we scan: 6 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $3.89 and the highest bid on Gate spot at $3.90.
The widest BANANA perpetual spread is between Bitget and Bybit: long BANANA on Bitget at $3.89 and short on Bybit at $3.89 for +0.05% gross, or -0.11% 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 Binance and short the perpetual on Bybit: -0.10% gross, -0.30% net, with +0.030% a day of funding on the short leg.
Spot–spot BANANA arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows 0.00% 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.