BEL arbitrage explained
Right now Bella Protocol (BEL) trades on 7 venues we scan: 7 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.1221 and the highest bid on Gate spot at $0.1223.
The widest BEL perpetual spread is between MEXC and Bybit: long BEL on MEXC at $0.1221 and short on Bybit at $0.1222 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 BEL route is to buy spot on Bybit and short the perpetual on Bybit: +0.04% gross, -0.16% net, with +0.030% a day of funding on the short leg.
Spot–spot BEL arbitrage (buy on Bybit, withdraw, deposit and sell on Gate) shows +0.10% 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 BEL 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: BEL funding rates · BEL spread charts · Bella Protocol price · arbitrage scanner for all coins.