NEWT arbitrage explained
Right now Newton Protocol (NEWT) trades on 6 venues we scan: 6 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.0473 and the highest bid on Bitget spot at $0.0475.
The widest NEWT perpetual spread is between Binance and Bybit: long NEWT on Binance at $0.0473 and short on Bybit at $0.0475 for +0.32% gross, or +0.16% 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 -0.076% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best NEWT route is to buy spot on Gate and short the perpetual on Bybit: +0.08% gross, -0.12% net, with -0.046% a day of funding on the short leg.
Spot–spot NEWT arbitrage (buy on Gate, withdraw, deposit and sell on Bitget) shows +0.17% 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 NEWT 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: NEWT funding rates · NEWT spread charts · Newton Protocol price · arbitrage scanner for all coins.