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 MEXC perp at $1.50 and the highest bid on Bybit perp at $1.50.
The widest EUL perpetual spread is between MEXC and Bybit: long EUL on MEXC at $1.50 and short on Bybit at $1.50 for +0.10% gross, or -0.06% 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 Binance and short the perpetual on Bybit: +0.01% gross, -0.19% net, with +0.030% a day of funding on the short leg.
Spot–spot EUL arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows -0.03% 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.