BAS arbitrage explained
Right now BNB Attestation Service (BAS) trades on 5 venues we scan: 5 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.0224 and the highest bid on MEXC perp at $0.0225.
The widest BAS perpetual spread is between Gate and Binance: long BAS on Gate at $0.0224 and short on Binance at $0.0225 for +0.04% gross, or -0.12% 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 BAS route is to buy spot on Gate and short the perpetual on Binance: +0.06% gross, -0.14% net, with +0.030% a day of funding on the short leg.
Spot–spot BAS arbitrage (buy on Gate, withdraw, deposit and sell on MEXC) shows -0.31% 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 BAS 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: BAS funding rates · BAS spread charts · BNB Attestation Service price · arbitrage scanner for all coins.