FIDA arbitrage explained
Right now Bonfida (FIDA) trades on 8 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.0208 and the highest bid on Gate spot at $0.0208.
The widest FIDA perpetual spread is between Bitget and Gate: long FIDA on Bitget at $0.0208 and short on Gate at $0.0208 for +0.01% gross, or -0.15% 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 -0.056% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best FIDA route is to buy spot on Binance and short the perpetual on Gate: -0.10% gross, -0.30% net, with -0.026% a day of funding on the short leg.
Spot–spot FIDA arbitrage (buy on Binance, 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 FIDA 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: FIDA funding rates · FIDA spread charts · Bonfida price · arbitrage scanner for all coins.