MELANIA arbitrage explained
Right now Melania Meme (MELANIA) trades on 9 venues we scan: 9 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Hyperliquid perp at $0.0963 and the highest bid on MEXC perp at $0.0964.
The widest MELANIA perpetual spread is between Hyperliquid and Binance: long MELANIA on Hyperliquid at $0.0963 and short on Binance at $0.0964 for +0.08% gross, or -0.08% 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 +0.010% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best MELANIA route is to buy spot on Gate and short the perpetual on Binance: +0.01% gross, -0.19% net, with +0.030% a day of funding on the short leg.
Spot–spot MELANIA arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) shows -0.10% 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 MELANIA 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: MELANIA funding rates · MELANIA spread charts · Melania Meme price · arbitrage scanner for all coins.