CHEEMS arbitrage explained
Right now Cheems Token (CHEEMS) trades on 6 venues we scan: 6 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.00000052 and the highest bid on Bitget spot at $0.00000052.
The widest CHEEMS perpetual spread is between Binance and Gate: long CHEEMS on Binance at $0.00000052 and short on Gate at $0.00000052 for +0.13% gross, or -0.03% 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 CHEEMS route is to buy spot on Binance and short the perpetual on Gate: -0.08% gross, -0.28% net, with +0.030% a day of funding on the short leg.
Spot–spot CHEEMS arbitrage (buy on Binance, withdraw, deposit and sell on Bitget) 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 CHEEMS 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: CHEEMS funding rates · CHEEMS spread charts · Cheems Token price · arbitrage scanner for all coins.