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 Variational perp at $0.0616 and the highest bid on KuCoin perp at $0.0618.
The widest EDU perpetual spread is between Variational and KuCoin: long EDU on Variational at $0.0616 and short on KuCoin at $0.0618 for +0.37% gross, or +0.21% 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 EDU route is to buy spot on KuCoin and short the perpetual on KuCoin: +0.21% gross, +0.01% net, with +0.030% a day of funding on the short leg.
Spot–spot EDU arbitrage (buy on KuCoin, withdraw, deposit and sell on Binance) 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.