LINK arbitrage explained
Right now Chainlink (LINK) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $13.57 and the highest bid on Gate spot at $13.58.
The widest LINK perpetual spread is between Variational and Gate: long LINK on Variational at $13.57 and short on Gate at $13.58 for +0.10% gross, or -0.06% 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 -0.005% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best LINK route is to buy spot on Binance and short the perpetual on Gate: 0.00% gross, -0.20% net, with +0.020% a day of funding on the short leg.
Spot–spot LINK arbitrage (buy on Binance, withdraw, deposit and sell on Gate) 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 LINK 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: LINK funding rates · LINK spread charts · Chainlink price · arbitrage scanner for all coins.