GTC arbitrage explained
Right now Gitcoin (GTC) trades on 4 venues we scan: 3 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Aster perp at $0.1493 and the highest bid on KuCoin spot at $0.1497.
The widest GTC perpetual spread is between Aster and KuCoin: long GTC on Aster at $0.1493 and short on KuCoin at $0.1494 for +0.07% gross, or -0.09% 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 +0.048% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best GTC route is to buy spot on Binance and short the perpetual on KuCoin: -0.17% gross, -0.37% net, with +0.004% a day of funding on the short leg.
Spot–spot GTC arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) 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 GTC 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: GTC funding rates · GTC spread charts · Gitcoin price · arbitrage scanner for all coins.