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 $0.1914 and the highest bid on Binance spot at $0.1914.
The widest GTC perpetual spread is between Aster and Binance: long GTC on Aster at $0.1914 and short on Binance at $0.1913 for -0.04% gross, or -0.20% 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 -0.187% per day, which the position pays 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 Binance: -0.10% gross, -0.30% net, with -0.736% a day of funding on the short leg.
Spot–spot GTC arbitrage (buy on Binance, withdraw, deposit and sell on MEXC) shows -0.10% 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.