BB arbitrage explained
Right now BitBoard (BB) trades on 7 venues we scan: 7 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.009007 and the highest bid on KuCoin spot at $0.009037.
The widest BB perpetual spread is between MEXC and Bybit: long BB on MEXC at $0.009007 and short on Bybit at $0.009013 for +0.07% gross, or -0.09% 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 -0.401% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best BB route is to buy spot on Binance and short the perpetual on Bybit: -0.19% gross, -0.39% net, with -0.371% a day of funding on the short leg.
Spot–spot BB arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) 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 BB 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: BB funding rates · BB spread charts · BitBoard price · arbitrage scanner for all coins.