PIXEL arbitrage explained
Right now Pixels (PIXEL) trades on 9 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.005903 and the highest bid on Gate perp at $0.005911.
The widest PIXEL perpetual spread is between Binance and Bybit: long PIXEL on Binance at $0.005903 and short on Bybit at $0.005911 for +0.14% gross, or -0.02% 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 PIXEL route is to buy spot on OKX and short the perpetual on Bybit: +0.12% gross, -0.08% net, with +0.030% a day of funding on the short leg.
Spot–spot PIXEL arbitrage (buy on OKX, withdraw, deposit and sell on Bitget) shows 0.00% 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 PIXEL 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: PIXEL funding rates · PIXEL spread charts · Pixels price · arbitrage scanner for all coins.