ArbiLayer

PUFFER arbitrage

live

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

Best net spread+0.16%Gate → Bybit · Spot–Spot
Best perp–perp spread-0.04%Bybit → MEXC
Markets tracked86 venues · 3 perp · 5 spot · 0 DEX
Price range0.58%$0.0224 – $0.0225

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Bybit logoBybit$0.0224MEXC logoMEXC$0.0224 -0.04%-0.20% -0.04%— 0.000%— LS Chart →
MEXC logoMEXC$0.0224Bybit logoBybit$0.0224 -0.04%-0.20% -0.04%— 0.000%— LS Chart →
Variational logoVariational$0.0224Bybit logoBybit$0.0224 -0.09%-0.25% -0.09%— +0.000%— LS Chart →
Variational logoVariational$0.0224MEXC logoMEXC$0.0224 -0.09%-0.25% -0.09%— +0.000%— LS Chart →
Bybit logoBybit$0.0224Variational logoVariational$0.0223 -0.40%-0.56% -0.40%— -0.000%— LS Chart →
MEXC logoMEXC$0.0224Variational logoVariational$0.0223 -0.40%-0.56% -0.40%— -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.

PUFFER price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Bybit logoBybitPerpetual · PUFFERUSDTPerpetual $0.0224$0.0224$0.02240.00% +0.030%$527.0K
Bybit logoBybitSpot · PUFFERUSDTSpot $0.0225$0.0225$0.0225+0.42% —$106.9K
MEXC logoMEXCPerpetual · PUFFER_USDTPerpetual $0.0224$0.0224$0.02240.00% +0.030%$96.2K
Bitget logoBitgetSpot · PUFFERUSDTSpot $0.0224$0.0224$0.0224+0.02% —$31.7K
Gate logoGateSpot · PUFFER_USDTSpot $0.0224$0.0224$0.0224-0.09% —$16.7K
KuCoin logoKuCoinSpot · PUFFER-USDTSpot $0.0223$0.0224$0.0224-0.11% —$13.8K
Variational logoVariationalPerpetual · PUFFERPerpetual $0.0223$0.0224$0.0224-0.16% +0.030%$1.4K
MEXC logoMEXCSpot · PUFFERUSDTSpot $0.0224$0.0225$0.0224+0.25% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

PUFFER arbitrage explained

Right now Puffer (PUFFER) trades on 6 venues we scan: 3 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.0224 and the highest bid on Bybit spot at $0.0225.

The widest PUFFER perpetual spread is between Bybit and MEXC: long PUFFER on Bybit at $0.0224 and short on MEXC at $0.0224 for -0.04% gross, or -0.20% 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 PUFFER route is to buy spot on Gate and short the perpetual on Bybit: 0.00% gross, -0.20% net, with +0.030% a day of funding on the short leg.

Spot–spot PUFFER arbitrage (buy on Gate, withdraw, deposit and sell on Bybit) shows +0.36% 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 PUFFER 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: PUFFER funding rates · PUFFER spread charts · Puffer price · arbitrage scanner for all coins.

Is there a PUFFER arbitrage opportunity right now?

The best PUFFER route right now is to buy on Gate spot → sell on Bybit spot (Spot–Spot): +0.36% gross and +0.16% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest PUFFER?

Gate (spot) has the lowest PUFFER ask at $0.0224, and Bybit (spot) the highest bid at $0.0225. Prices update every 15 seconds on this page.

How many exchanges list PUFFER?

ArbiLayer tracks 8 PUFFER markets on 6 venues: 3 perpetual, 5 spot and 0 DEX pools.

How do I arbitrage PUFFER without transferring coins?

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

Arbitrage for other coins

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