CC arbitrage explained
Right now Canton (CC) trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.117 and the highest bid on Bitget spot at $0.1171.
The widest CC perpetual spread is between Variational and OKX: long CC on Variational at $0.117 and short on OKX at $0.1171 for +0.05% gross, or -0.11% 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 CC route is to buy spot on Bybit and short the perpetual on OKX: -0.05% gross, -0.25% net, with +0.030% a day of funding on the short leg.
Spot–spot CC arbitrage (buy on Bybit, withdraw, deposit and sell on Bitget) shows 0.00% 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 CC 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: CC funding rates · CC spread charts · Canton price · arbitrage scanner for all coins.