FOGO arbitrage explained
Right now Fogo (FOGO) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.005149 and the highest bid on Gate perp at $0.00516.
The widest FOGO perpetual spread is between OKX and Gate: long FOGO on OKX at $0.005149 and short on Gate at $0.00516 for +0.21% gross, or +0.05% 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 FOGO route is to buy spot on MEXC and short the perpetual on Gate: +0.14% gross, -0.06% net, with +0.030% a day of funding on the short leg.
Spot–spot FOGO arbitrage (buy on MEXC, withdraw, deposit and sell on Gate) shows +0.10% 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 FOGO 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: FOGO funding rates · FOGO spread charts · Fogo price · arbitrage scanner for all coins.