EIGEN arbitrage explained
Right now EigenCloud (prev. EigenLayer) (EIGEN) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.2384 and the highest bid on Bitget spot at $0.239.
The widest EIGEN perpetual spread is between Variational and Binance: long EIGEN on Variational at $0.2384 and short on Binance at $0.2386 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 +0.109% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best EIGEN route is to buy spot on Binance and short the perpetual on Binance: -0.17% gross, -0.37% net, with +0.007% a day of funding on the short leg.
Spot–spot EIGEN arbitrage (buy on Binance, withdraw, deposit and sell on Bitget) shows 0.00% 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 EIGEN 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: EIGEN funding rates · EIGEN spread charts · EigenCloud (prev. EigenLayer) price · arbitrage scanner for all coins.