CFX arbitrage explained
Right now Conflux (CFX) trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.0515 and the highest bid on Hyperliquid perp at $0.0516.
The widest CFX perpetual spread is between MEXC and Hyperliquid: long CFX on MEXC at $0.0515 and short on Hyperliquid at $0.0516 for +0.14% gross, or -0.02% 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 CFX route is to buy spot on Gate and short the perpetual on Hyperliquid: +0.08% gross, -0.12% net, with +0.030% a day of funding on the short leg.
Spot–spot CFX arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows +0.04% 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 CFX 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: CFX funding rates · CFX spread charts · Conflux price · arbitrage scanner for all coins.