DEEP arbitrage explained
Right now DeepBook (DEEP) trades on 7 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.0221 and the highest bid on KuCoin spot at $0.0222.
The widest DEEP perpetual spread is between Gate and Binance: long DEEP on Gate at $0.0221 and short on Binance at $0.0221 for +0.09% gross, or -0.07% 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 DEEP route is to buy spot on Bitget and short the perpetual on Binance: -0.14% gross, -0.34% net, with +0.030% a day of funding on the short leg.
Spot–spot DEEP arbitrage (buy on Bitget, withdraw, deposit and sell on KuCoin) shows +0.01% 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 DEEP 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: DEEP funding rates · DEEP spread charts · DeepBook price · arbitrage scanner for all coins.