GRT arbitrage explained
Right now The Graph (GRT) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.0269 and the highest bid on Binance spot at $0.027.
The widest GRT perpetual spread is between Bybit and Gate: long GRT on Bybit at $0.0269 and short on Gate at $0.0269 for +0.04% gross, or -0.12% 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 GRT route is to buy spot on Gate and short the perpetual on Gate: -0.14% gross, -0.34% net, with +0.030% a day of funding on the short leg.
Spot–spot GRT arbitrage (buy on Gate, 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 GRT 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: GRT funding rates · GRT spread charts · The Graph price · arbitrage scanner for all coins.