FF arbitrage explained
Right now Falcon Finance (FF) trades on 7 venues we scan: 7 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.1097 and the highest bid on Bitget perp at $0.1099.
The widest FF perpetual spread is between Binance and Bitget: long FF on Binance at $0.1097 and short on Bitget at $0.1099 for +0.15% gross, or -0.01% 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 FF route is to buy spot on KuCoin and short the perpetual on Bitget: +0.11% gross, -0.09% net, with +0.030% a day of funding on the short leg.
Spot–spot FF arbitrage (buy on KuCoin, withdraw, deposit and sell on Bybit) 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 FF 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: FF funding rates · FF spread charts · Falcon Finance price · arbitrage scanner for all coins.