BR arbitrage explained
Right now Bedrock (BR) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.5663 and the highest bid on Variational perp at $0.5693.
The widest BR perpetual spread is between Binance and Variational: long BR on Binance at $0.5663 and short on Variational at $0.5693 for +0.54% gross, or +0.38% 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 +0.104% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best BR route is to buy spot on Bybit and short the perpetual on Variational: +0.45% gross, +0.25% net, with -0.120% a day of funding on the short leg.
Spot–spot BR arbitrage (buy on Bybit, withdraw, deposit and sell on Gate) shows +0.41% 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 BR 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: BR funding rates · BR spread charts · Bedrock price · arbitrage scanner for all coins.