ArbiLayer

NIL arbitrage

live

Live Nillion price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.04%Binance → Bybit · Perp–Perp
Best perp–perp spread+0.20%Binance → Bybit
Markets tracked1510 venues · 10 perp · 5 spot · 0 DEX
Price range0.21%$0.0921 – $0.0923

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinancespot$0.0922Bybit logoBybit$0.0923 +0.10%-0.10% +0.10%— +0.030%+0.97% LS Chart →
KuCoin logoKuCoinspot$0.0922Bybit logoBybit$0.0923 +0.08%-0.12% +0.08%— +0.030%+0.97% LS Chart →
Gate logoGatespot$0.0922Bybit logoBybit$0.0923 +0.04%-0.16% +0.05%— +0.030%+0.97% LS Chart →
Bitget logoBitgetspot$0.0922Bybit logoBybit$0.0923 +0.02%-0.18% +0.03%— +0.030%+0.97% LS Chart →
Binance logoBinancespot$0.0922Variational logoVariational$0.0922 -0.01%-0.21% -0.01%— +0.030%— LS Chart →
Binance logoBinancespot$0.0922Gate logoGate$0.0922 -0.02%-0.22% -0.03%— -0.072%+0.54% LS Chart →
KuCoin logoKuCoinspot$0.0922Variational logoVariational$0.0922 -0.03%-0.23% -0.03%— +0.030%— LS Chart →
Binance logoBinancespot$0.0922Hyperliquid logoHyperliquid$0.0921 -0.03%-0.23% -0.03%— +0.030%— LS Chart →
KuCoin logoKuCoinspot$0.0922Gate logoGate$0.0922 -0.04%-0.24% -0.06%— -0.072%+0.54% LS Chart →
KuCoin logoKuCoinspot$0.0922Hyperliquid logoHyperliquid$0.0921 -0.06%-0.26% -0.06%— +0.030%— LS Chart →
Gate logoGatespot$0.0922Variational logoVariational$0.0922 -0.07%-0.27% -0.06%— +0.030%— LS Chart →
Gate logoGatespot$0.0922Gate logoGate$0.0922 -0.08%-0.28% -0.09%— -0.072%+0.54% LS Chart →
Binance logoBinancespot$0.0922Bitget logoBitget$0.0921 -0.08%-0.28% -0.07%— +0.030%+0.50% LS Chart →
Binance logoBinancespot$0.0922HTX logoHTX$0.0921 -0.08%-0.28% -0.07%— +0.015%— LS Chart →
MEXC logoMEXCspot$0.0923Bybit logoBybit$0.0923 -0.09%-0.29% -0.08%— +0.030%+0.97% LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

NIL price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitPerpetual · NILUSDTPerpetual $0.0923$0.0923$0.0923+0.11% +0.030%$12.54M
Gate logoGatePerpetual · NIL_USDTPerpetual $0.0922$0.0922$0.09220.00% -0.072%$12.45M
Bitget logoBitgetPerpetual · NILUSDTPerpetual $0.0921$0.0922$0.0921-0.04% +0.030%$5.93M
MEXC logoMEXCPerpetual · NIL_USDTPerpetual $0.0921$0.0921$0.0921-0.10% +0.030%$4.39M
Hyperliquid logoHyperliquidPerpetual · NILPerpetual $0.0921$0.0923$0.0922+0.05% +0.030%$3.34M
KuCoin logoKuCoinPerpetual · NILUSDTMPerpetual $0.092$0.0922$0.0921-0.07% +0.030%$1.13M
KuCoin logoKuCoinSpot · NIL-USDTSpot $0.0921$0.0922$0.0921-0.03% —$755.1K
Variational logoVariationalPerpetual · NILPerpetual $0.0922$0.0923$0.0922+0.08% +0.030%$754.4K
HTX logoHTXPerpetual · NIL-USDTPerpetual $0.0921$0.0924$0.0922+0.08% +0.015%$267.1K
Bitget logoBitgetSpot · NILUSDTSpot $0.0921$0.0922$0.0922+0.01% —$230.6K
Gate logoGateSpot · NIL_USDTSpot $0.0921$0.0922$0.09220.00% —$103.6K
Binance logoBinancePerpetual · NILUSDTPerpetual $0.0921$0.0921$0.0921-0.10% +0.030%—
Aster logoAsterPerpetual · NILUSDTPerpetual $0.092$0.0924$0.0922+0.03% +0.030%—
Binance logoBinanceSpot · NILUSDTSpot $0.0921$0.0922$0.0922-0.01% ——
MEXC logoMEXCSpot · NILUSDTSpot $0.092$0.0923$0.0922-0.02% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

NIL arbitrage explained

Right now Nillion (NIL) trades on 10 venues we scan: 10 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.0921 and the highest bid on Bybit perp at $0.0923.

The widest NIL perpetual spread is between Binance and Bybit: long NIL on Binance at $0.0921 and short on Bybit at $0.0923 for +0.20% gross, or +0.04% 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 collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best NIL route is to buy spot on Binance and short the perpetual on Bybit: +0.10% gross, -0.10% net, with +0.030% a day of funding on the short leg.

Spot–spot NIL arbitrage (buy on KuCoin, withdraw, deposit and sell on Binance) shows -0.05% 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 NIL 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: NIL funding rates · NIL spread charts · Nillion price · arbitrage scanner for all coins.

Is there a NIL arbitrage opportunity right now?

The best NIL route right now is to buy on Binance → sell on Bybit (Perp–Perp): +0.20% gross and +0.04% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest NIL?

Binance (perp) has the lowest NIL ask at $0.0921, and Bybit (perp) the highest bid at $0.0923. Prices update every 15 seconds on this page.

How many exchanges list NIL?

ArbiLayer tracks 15 NIL markets on 10 venues: 10 perpetual, 5 spot and 0 DEX pools.

How do I arbitrage NIL without transferring coins?

Use two perpetual contracts: go long NIL on the cheaper exchange (Binance now) and short it on the more expensive one (Bybit), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

CRO +18.00%BLAST +17.88%UPC +7.25%BDX +7.00%ONE +6.78%ESPORTS +6.14%OPENAI +5.10%AI +4.41%CATE +3.98%SPCX +3.70%ANTHROPIC +3.56%EGLD +3.39%ZIL +3.07%OURA +2.99%FLYBRAIN +2.55%PENGSTOCK +2.51%APPSTOCK +2.30%ELIZAOS +2.19%