PI arbitrage explained
Right now Pi Network (PI) trades on 4 venues we scan: 4 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on OKX perp at $0.0836 and the highest bid on Gate spot at $0.0837.
The widest PI perpetual spread is between OKX and Gate: long PI on OKX at $0.0836 and short on Gate at $0.0837 for +0.12% 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 PI route is to buy spot on OKX and short the perpetual on Gate: +0.01% gross, -0.19% net, with +0.030% a day of funding on the short leg.
Spot–spot PI arbitrage (buy on OKX, withdraw, deposit and sell on Gate) shows +0.04% 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 PI 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: PI funding rates · PI spread charts · Pi Network price · arbitrage scanner for all coins.