CLANKER arbitrage explained
Right now tokenbot (CLANKER) trades on 8 venues we scan: 8 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $14.39 and the highest bid on Gate spot at $14.40.
The widest CLANKER perpetual spread is between Bitget and Binance: long CLANKER on Bitget at $14.40 and short on Binance at $14.40 for 0.00% gross, or -0.16% 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 +0.149% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CLANKER route is to buy spot on KuCoin and short the perpetual on Binance: +0.10% gross, -0.10% net, with +0.179% a day of funding on the short leg.
Spot–spot CLANKER arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows +0.11% 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 CLANKER 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: CLANKER funding rates · CLANKER spread charts · tokenbot price · arbitrage scanner for all coins.