CVX arbitrage explained
Right now Convex Finance (CVX) trades on 8 venues we scan: 8 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $2.23 and the highest bid on Bybit perp at $2.24.
The widest CVX perpetual spread is between Binance and Bybit: long CVX on Binance at $2.23 and short on Bybit at $2.24 for +0.17% 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 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best CVX route is to buy spot on Binance and short the perpetual on Bybit: +0.17% gross, -0.03% net, with +0.030% a day of funding on the short leg.
Spot–spot CVX arbitrage (buy on Binance, withdraw, deposit and sell on OKX) shows +0.13% 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 CVX 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: CVX funding rates · CVX spread charts · Convex Finance price · arbitrage scanner for all coins.