EDU arbitrage explained
Right now Open Campus (EDU) trades on 7 venues we scan: 7 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.0642 and the highest bid on Variational perp at $0.0645.
The widest EDU perpetual spread is between Binance and Variational: long EDU on Binance at $0.0642 and short on Variational at $0.0645 for +0.41% gross, or +0.25% 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 pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best EDU route is to buy spot on Binance and short the perpetual on Variational: +0.39% gross, +0.19% net, with +0.030% a day of funding on the short leg.
Spot–spot EDU arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows -0.16% 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 EDU 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: EDU funding rates · EDU spread charts · Open Campus price · arbitrage scanner for all coins.