GAS arbitrage explained
Right now Gas (GAS) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $1.33 and the highest bid on Variational perp at $1.34.
The widest GAS perpetual spread is between OKX and Variational: long GAS on OKX at $1.33 and short on Variational at $1.34 for +0.35% gross, or +0.19% 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 -0.273% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best GAS route is to buy spot on KuCoin and short the perpetual on Variational: +0.19% gross, -0.01% net, with -0.389% a day of funding on the short leg.
Spot–spot GAS arbitrage (buy on KuCoin, withdraw, deposit and sell on Bitget) shows +0.02% 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 GAS 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: GAS funding rates · GAS spread charts · Gas price · arbitrage scanner for all coins.