KITE arbitrage explained
Right now Kite (KITE) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.1352 and the highest bid on Binance perp at $0.1354.
The widest KITE perpetual spread is between Bybit and Binance: long KITE on Bybit at $0.1352 and short on Binance at $0.1354 for +0.13% gross, or -0.03% 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 -0.015% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best KITE route is to buy spot on Gate and short the perpetual on Binance: +0.12% gross, -0.08% net, with +0.015% a day of funding on the short leg.
Spot–spot KITE arbitrage (buy on Gate, withdraw, deposit and sell on OKX) shows +0.05% 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 KITE 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: KITE funding rates · KITE spread charts · Kite price · arbitrage scanner for all coins.