BAT arbitrage explained
Right now Basic Attention (BAT) trades on 8 venues we scan: 8 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.0999 and the highest bid on KuCoin spot at $0.1001.
The widest BAT perpetual spread is between Binance and Bybit: long BAT on Binance at $0.0999 and short on Bybit at $0.10 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 BAT route is to buy spot on Gate and short the perpetual on Bybit: -0.09% gross, -0.29% net, with +0.030% a day of funding on the short leg.
Spot–spot BAT arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows +0.04% 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 BAT 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: BAT funding rates · BAT spread charts · Basic Attention price · arbitrage scanner for all coins.