FLUID arbitrage explained
Right now Fluid (FLUID) trades on 8 venues we scan: 7 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $1.86 and the highest bid on Variational perp at $1.86.
The widest FLUID perpetual spread is between Bitget and Variational: long FLUID on Bitget at $1.86 and short on Variational at $1.86 for +0.25% gross, or +0.09% 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 pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best FLUID route is to buy spot on OKX and short the perpetual on Variational: +0.07% gross, -0.13% net, with +0.030% a day of funding on the short leg.
Spot–spot FLUID arbitrage (buy on OKX, withdraw, deposit and sell on Gate) shows -0.07% 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 FLUID 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: FLUID funding rates · FLUID spread charts · Fluid price · arbitrage scanner for all coins.