CRV arbitrage explained
Right now Curve DAO (CRV) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.3465 and the highest bid on Bitget spot at $0.347.
The widest CRV perpetual spread is between Bybit and Hyperliquid: long CRV on Bybit at $0.3465 and short on Hyperliquid at $0.3467 for +0.07% gross, or -0.09% 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 +0.011% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CRV route is to buy spot on Bybit and short the perpetual on Hyperliquid: -0.05% gross, -0.25% net, with +0.030% a day of funding on the short leg.
Spot–spot CRV arbitrage (buy on Bybit, withdraw, deposit and sell on Gate) shows +0.03% 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 CRV 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: CRV funding rates · CRV spread charts · Curve DAO price · arbitrage scanner for all coins.