MANA arbitrage explained
Right now Decentraland (MANA) trades on 9 venues we scan: 9 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.1032 and the highest bid on KuCoin spot at $0.1035.
The widest MANA perpetual spread is between Gate and Aster: long MANA on Gate at $0.1032 and short on Aster at $0.1034 for +0.16% gross, or +0.00% 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 -0.041% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best MANA route is to buy spot on Bybit and short the perpetual on Aster: -0.02% gross, -0.22% net, with -0.011% a day of funding on the short leg.
Spot–spot MANA arbitrage (buy on Bybit, withdraw, deposit and sell on KuCoin) shows +0.07% 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 MANA 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: MANA funding rates · MANA spread charts · Decentraland price · arbitrage scanner for all coins.