GPS arbitrage explained
Right now GoPlus Security (GPS) trades on 10 venues we scan: 10 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on HTX perp at $0.0102 and the highest bid on OKX perp at $0.0102.
The widest GPS perpetual spread is between HTX and OKX: long GPS on HTX at $0.0102 and short on OKX at $0.0102 for +0.31% 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 +0.015% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best GPS route is to buy spot on Bybit and short the perpetual on OKX: +0.03% gross, -0.17% net, with +0.030% a day of funding on the short leg.
Spot–spot GPS arbitrage (buy on Bybit, withdraw, deposit and sell on Binance) shows -0.03% 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 GPS 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: GPS funding rates · GPS spread charts · GoPlus Security price · arbitrage scanner for all coins.