DYDX arbitrage explained
Right now dYdX (DYDX) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $0.1345 and the highest bid on Bybit spot at $0.1347.
The widest DYDX perpetual spread is between Binance and Gate: long DYDX on Binance at $0.1345 and short on Gate at $0.1346 for +0.08% gross, or -0.08% 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 +0.053% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best DYDX route is to buy spot on Binance and short the perpetual on Gate: -0.04% gross, -0.24% net, with +0.030% a day of funding on the short leg.
Spot–spot DYDX arbitrage (buy on Binance, withdraw, deposit and sell on Bybit) 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 DYDX 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: DYDX funding rates · DYDX spread charts · dYdX price · arbitrage scanner for all coins.