EUL arbitrage explained
Right now Euler (EUL) trades on 9 venues we scan: 9 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $1.41 and the highest bid on Bitget perp at $1.41.
The widest EUL perpetual spread is between Binance and Bitget: long EUL on Binance at $1.41 and short on Bitget at $1.41 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 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best EUL route is to buy spot on KuCoin and short the perpetual on Bitget: +0.07% gross, -0.13% net, with +0.030% a day of funding on the short leg.
Spot–spot EUL arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows +0.05% 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 EUL 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: EUL funding rates · EUL spread charts · Euler price · arbitrage scanner for all coins.