CARDS arbitrage explained
Right now Collector Crypt (CARDS) trades on 5 venues we scan: 2 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.29 and the highest bid on KuCoin spot at $0.2984.
The widest CARDS perpetual spread is between Gate and Aster: long CARDS on Gate at $0.29 and short on Aster at $0.2887 for -0.45% gross, or -0.61% 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 +1.369% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CARDS route is to buy spot on OKX and short the perpetual on Gate: -2.18% gross, -2.38% net, with -1.339% a day of funding on the short leg.
Spot–spot CARDS arbitrage (buy on OKX, withdraw, deposit and sell on KuCoin) shows +0.78% 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 CARDS 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: CARDS funding rates · CARDS spread charts · Collector Crypt price · arbitrage scanner for all coins.