ETC arbitrage explained
Right now Ethereum Classic (ETC) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $8.38 and the highest bid on HTX perp at $8.39.
The widest ETC perpetual spread is between Variational and HTX: long ETC on Variational at $8.38 and short on HTX at $8.39 for +0.11% gross, or -0.05% 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 +0.043% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ETC route is to buy spot on Bybit and short the perpetual on HTX: +0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.
Spot–spot ETC arbitrage (buy on Bybit, withdraw, deposit and sell on OKX) 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 ETC 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: ETC funding rates · ETC spread charts · Ethereum Classic price · arbitrage scanner for all coins.