CARV arbitrage explained
Right now CARV trades on 7 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0467 and the highest bid on Variational perp at $0.0469.
The widest CARV perpetual spread is between Gate and Variational: long CARV on Gate at $0.0467 and short on Variational at $0.0469 for +0.41% gross, or +0.25% 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 +0.535% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CARV route is to buy spot on Bybit and short the perpetual on Variational: +0.30% gross, +0.10% net, with +0.030% a day of funding on the short leg.
Spot–spot CARV arbitrage (buy on Bybit, withdraw, deposit and sell on Gate) shows +0.13% 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 CARV 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: CARV funding rates · CARV spread charts · CARV price · arbitrage scanner for all coins.