CORE arbitrage explained
Right now Core (CORE) trades on 6 venues we scan: 5 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.0196 and the highest bid on Gate spot at $0.0196.
The widest CORE perpetual spread is between Bybit and Gate: long CORE on Bybit at $0.0196 and short on Gate at $0.0196 for +0.15% gross, or -0.01% 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 +0.027% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CORE route is to buy spot on Bybit and short the perpetual on Gate: -0.10% gross, -0.30% net, with +0.030% a day of funding on the short leg.
Spot–spot CORE arbitrage (buy on Bybit, withdraw, deposit and sell on Gate) 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 CORE 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: CORE funding rates · CORE spread charts · Core price · arbitrage scanner for all coins.