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 $0.004481 and the highest bid on Bybit perp at $0.004485.
The widest KAT perpetual spread is between OKX and Bybit: long KAT on OKX at $0.004481 and short on Bybit at $0.004485 for +0.09% gross, or -0.07% 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 OKX and short the perpetual on Bybit: +0.04% gross, -0.16% net, with +0.030% a day of funding on the short leg.
Spot–spot KAT 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 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.