FONE arbitrage explained
Right now apeonfone (FONE) trades on 3 venues we scan: 3 perpetual markets, 2 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.004657 and the highest bid on Gate perp at $0.00469.
The widest FONE perpetual spread is between MEXC and Gate: long FONE on MEXC at $0.004657 and short on Gate at $0.00469 for +0.71% gross, or +0.55% 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 +0.112% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best FONE route is to buy spot on MEXC and short the perpetual on Gate: +0.04% gross, -0.16% net, with +0.030% a day of funding on the short leg.
Spot–spot FONE arbitrage (buy on MEXC, withdraw, deposit and sell on Gate) shows -0.70% 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 FONE 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: FONE funding rates · FONE spread charts · apeonfone price · arbitrage scanner for all coins.