ArbiLayer

NIL arbitrage

live

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

Best net spread+0.21%MEXC → Variational · Perp–Perp
Best perp–perp spread+0.37%MEXC → Variational
Markets tracked1510 venues · 10 perp · 5 spot · 0 DEX
Price range0.48%$0.0927 – $0.0932

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
MEXC logoMEXCspot$0.0928Binance logoBinancespot$0.0928 -0.02%-0.22% -0.02%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0929Binance logoBinancespot$0.0928 -0.05%-0.25% -0.05%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0929Binance logoBinancespot$0.0928 -0.06%-0.26% -0.06%— 0.000%— LS Chart →
Binance logoBinancespot$0.0928Bitget logoBitgetspot$0.0928 -0.06%-0.26% -0.06%— 0.000%— LS Chart →
Gate logoGatespot$0.0929Binance logoBinancespot$0.0928 -0.08%-0.28% -0.08%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.0928Bitget logoBitgetspot$0.0928 -0.08%-0.28% -0.08%— 0.000%— LS Chart →
Binance logoBinancespot$0.0928Gate logoGatespot$0.0928 -0.08%-0.28% -0.08%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.0928Gate logoGatespot$0.0928 -0.09%-0.29% -0.09%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0929Bitget logoBitgetspot$0.0928 -0.11%-0.31% -0.11%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0929Gate logoGatespot$0.0928 -0.12%-0.32% -0.12%— 0.000%— LS Chart →
Binance logoBinancespot$0.0928KuCoin logoKuCoinspot$0.0927 -0.12%-0.32% -0.12%— 0.000%— LS Chart →
Gate logoGatespot$0.0929Bitget logoBitgetspot$0.0928 -0.13%-0.33% -0.13%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0929Gate logoGatespot$0.0928 -0.13%-0.33% -0.13%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.0928KuCoin logoKuCoinspot$0.0927 -0.13%-0.33% -0.13%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0929KuCoin logoKuCoinspot$0.0927 -0.17%-0.37% -0.17%— 0.000%— 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
Gate logoGatePerpetual · NIL_USDTPerpetual $0.0928$0.0928$0.09280.00% +0.030%$12.95M
Bybit logoBybitPerpetual · NILUSDTPerpetual $0.0929$0.093$0.0929+0.14% +0.030%$12.76M
Bitget logoBitgetPerpetual · NILUSDTPerpetual $0.0928$0.0928$0.0928+0.01% +0.030%$6.04M
MEXC logoMEXCPerpetual · NIL_USDTPerpetual $0.0927$0.0928$0.0927-0.08% +0.030%$4.47M
Hyperliquid logoHyperliquidPerpetual · NILPerpetual $0.0927$0.0929$0.0928+0.02% +0.030%$3.41M
KuCoin logoKuCoinPerpetual · NILUSDTMPerpetual $0.0927$0.0929$0.0928-0.05% +0.030%$1.14M
Variational logoVariationalPerpetual · NILPerpetual $0.0931$0.0932$0.0932+0.37% +0.030%$755.5K
KuCoin logoKuCoinSpot · NIL-USDTSpot $0.0927$0.0929$0.0928-0.03% —$727.0K
HTX logoHTXPerpetual · NIL-USDTPerpetual $0.0927$0.0931$0.0929+0.08% +0.015%$269.6K
Bitget logoBitgetSpot · NILUSDTSpot $0.0928$0.0929$0.09280.00% —$216.7K
Gate logoGateSpot · NIL_USDTSpot $0.0928$0.0929$0.0928+0.00% —$103.5K
Binance logoBinancePerpetual · NILUSDTPerpetual $0.0928$0.0928$0.0928-0.06% +0.030%—
Aster logoAsterPerpetual · NILUSDTPerpetual $0.0927$0.0928$0.0928-0.07% +0.030%—
Binance logoBinanceSpot · NILUSDTSpot $0.0928$0.0928$0.0928+0.00% ——
MEXC logoMEXCSpot · NILUSDTSpot $0.0926$0.0928$0.0927-0.11% ——
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 MEXC perp at $0.0928 and the highest bid on Variational perp at $0.0931.

The widest NIL perpetual spread is between MEXC and Variational: long NIL on MEXC at $0.0928 and short on Variational at $0.0931 for +0.37% gross, or +0.21% 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 pays 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 Variational: +0.29% gross, +0.09% net, with +0.030% a day of funding on the short leg.

Spot–spot NIL arbitrage (buy on MEXC, withdraw, deposit and sell on Binance) shows -0.02% 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 MEXC → sell on Variational (Perp–Perp): +0.37% gross and +0.21% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest NIL?

MEXC (perp) has the lowest NIL ask at $0.0928, and Variational (perp) the highest bid at $0.0931. 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 (MEXC now) and short it on the more expensive one (Variational), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

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