KNC arbitrage explained
Right now Kyber Network Crystal (KNC) trades on 9 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.1407 and the highest bid on OKX spot at $0.1407.
The widest KNC perpetual spread is between Gate and Binance: long KNC on Gate at $0.1407 and short on Binance at $0.1407 for 0.00% gross, or -0.16% 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 +0.013% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best KNC route is to buy spot on Gate and short the perpetual on Binance: 0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.
Spot–spot KNC arbitrage (buy on Gate, withdraw, deposit and sell on OKX) shows +0.01% 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 KNC 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: KNC funding rates · KNC spread charts · Kyber Network Crystal price · arbitrage scanner for all coins.