LPT arbitrage explained
Right now Livepeer (LPT) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $1.71 and the highest bid on KuCoin spot at $1.72.
The widest LPT perpetual spread is between Variational and Bybit: long LPT on Variational at $1.71 and short on Bybit at $1.71 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 -0.206% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best LPT route is to buy spot on Binance and short the perpetual on Bybit: -0.18% gross, -0.38% net, with -0.176% a day of funding on the short leg.
Spot–spot LPT arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) shows 0.00% 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 LPT 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: LPT funding rates · LPT spread charts · Livepeer price · arbitrage scanner for all coins.