BREV arbitrage explained
Right now Brevis (BREV) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0856 and the highest bid on Bybit perp at $0.0856.
The widest BREV perpetual spread is between Gate and Bybit: long BREV on Gate at $0.0856 and short on Bybit at $0.0856 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 BREV route is to buy spot on Bybit and short the perpetual on Bybit: -0.02% gross, -0.22% net, with +0.030% a day of funding on the short leg.
Spot–spot BREV arbitrage (buy on Bybit, withdraw, deposit and sell on Binance) shows -0.06% 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 BREV 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: BREV funding rates · BREV spread charts · Brevis price · arbitrage scanner for all coins.