CROSS arbitrage explained
Right now CROSS trades on 7 venues we scan: 7 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.1381 and the highest bid on MEXC perp at $0.1382.
The widest CROSS perpetual spread is between Bitget and Binance: long CROSS on Bitget at $0.1381 and short on Binance at $0.1382 for +0.12% gross, or -0.04% 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 CROSS route is to buy spot on Gate and short the perpetual on Binance: +0.12% gross, -0.08% net, with +0.030% a day of funding on the short leg.
Spot–spot CROSS arbitrage (buy on Gate, withdraw, deposit and sell on Bitget) shows -0.06% 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 CROSS 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: CROSS funding rates · CROSS spread charts · arbitrage scanner for all coins.