HANA arbitrage explained
Right now Hana Network (HANA) trades on 6 venues we scan: 6 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.0122 and the highest bid on Bybit perp at $0.0123.
The widest HANA perpetual spread is between KuCoin and Binance: long HANA on KuCoin at $0.0123 and short on Binance at $0.0123 for +0.08% gross, or -0.08% 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 +0.112% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best HANA route is to buy spot on Gate and short the perpetual on Binance: +0.17% gross, -0.03% net, with +0.142% a day of funding on the short leg.
Spot–spot HANA arbitrage (buy on MEXC, withdraw, deposit and sell on Gate) shows -0.18% 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 HANA 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: HANA funding rates · HANA spread charts · Hana Network price · arbitrage scanner for all coins.