MAGIC arbitrage explained
Right now Treasure (MAGIC) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on MEXC perp at $0.0687 and the highest bid on Gate spot at $0.0689.
The widest MAGIC perpetual spread is between Binance and Variational: long MAGIC on Binance at $0.0687 and short on Variational at $0.0689 for +0.28% gross, or +0.12% 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 pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best MAGIC route is to buy spot on Binance and short the perpetual on Variational: +0.13% gross, -0.07% net, with +0.030% a day of funding on the short leg.
Spot–spot MAGIC arbitrage (buy on Binance, withdraw, deposit and sell on Gate) shows +0.13% 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 MAGIC 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: MAGIC funding rates · MAGIC spread charts · Treasure price · arbitrage scanner for all coins.