GRIFFAIN arbitrage explained
Right now GRIFFAIN trades on 8 venues we scan: 8 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.0255 and the highest bid on Bybit perp at $0.0256.
The widest GRIFFAIN perpetual spread is between Binance and Bybit: long GRIFFAIN on Binance at $0.0255 and short on Bybit at $0.0256 for +0.12% gross, or -0.04% 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 +0.021% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best GRIFFAIN route is to buy spot on Gate and short the perpetual on Bybit: +0.34% gross, +0.14% net, with +0.296% a day of funding on the short leg.
Spot–spot GRIFFAIN arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows -0.15% 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 GRIFFAIN 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: GRIFFAIN funding rates · GRIFFAIN spread charts · GRIFFAIN price · arbitrage scanner for all coins.