MANA arbitrage explained
Right now Decentraland (MANA) trades on 10 venues we scan: 9 perpetual markets, 7 spot markets and 1 DEX pool. The lowest ask is on KuCoin perp at $0.1058 and the highest bid on OKX spot at $0.1062.
The widest MANA perpetual spread is between KuCoin and Binance: long MANA on KuCoin at $0.1058 and short on Binance at $0.106 for +0.14% gross, or -0.02% 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 -0.077% 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 Bitget and short the perpetual on Binance: -0.15% gross, -0.35% net, with -0.087% a day of funding on the short leg.
Spot–spot MANA arbitrage (buy on Bitget, withdraw, deposit and sell on OKX) 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.