IOTA arbitrage explained
Right now IOTA trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.0544 and the highest bid on Gate spot at $0.0545.
The widest IOTA perpetual spread is between Variational and Hyperliquid: long IOTA on Variational at $0.0544 and short on Hyperliquid at $0.0545 for +0.28% 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 IOTA route is to buy spot on OKX and short the perpetual on Hyperliquid: -0.07% gross, -0.27% net, with +0.030% a day of funding on the short leg.
Spot–spot IOTA arbitrage (buy on OKX, withdraw, deposit and sell on Gate) shows -0.02% 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 IOTA 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: IOTA funding rates · IOTA spread charts · IOTA price · arbitrage scanner for all coins.