KAT arbitrage explained
Right now Katana (KAT) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.004554 and the highest bid on Bybit perp at $0.004563.
The widest KAT perpetual spread is between OKX and Bybit: long KAT on OKX at $0.004554 and short on Bybit at $0.004563 for +0.20% gross, or +0.04% 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 KAT route is to buy spot on Bitget and short the perpetual on Bybit: +0.02% gross, -0.18% net, with +0.030% a day of funding on the short leg.
Spot–spot KAT arbitrage (buy on Bitget, withdraw, deposit and sell on Binance) shows -0.04% 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 KAT 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: KAT funding rates · KAT spread charts · Katana price · arbitrage scanner for all coins.