ArbiLayer

PUFFER arbitrage

live

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

Best net spread-0.24%Bitget → Gate · Spot–Spot
Best perp–perp spread-0.13%Bybit → Variational
Markets tracked86 venues · 3 perp · 5 spot · 0 DEX
Price range0.47%$0.0224 – $0.0225

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Bitget logoBitgetspot$0.0225Gate logoGatespot$0.0225 -0.04%-0.24% -0.04%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0225Bybit logoBybitspot$0.0225 -0.09%-0.29% -0.09%— 0.000%— LS Chart →
Bybit logoBybitspot$0.0225Gate logoGatespot$0.0225 -0.13%-0.33% -0.13%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0225Gate logoGatespot$0.0225 -0.18%-0.38% -0.18%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0225KuCoin logoKuCoinspot$0.0225 -0.18%-0.38% -0.18%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0225Bybit logoBybitspot$0.0225 -0.22%-0.42% -0.22%— 0.000%— LS Chart →
Gate logoGatespot$0.0225Bybit logoBybitspot$0.0225 -0.27%-0.47% -0.27%— 0.000%— LS Chart →
Bybit logoBybitspot$0.0225KuCoin logoKuCoinspot$0.0225 -0.27%-0.47% -0.27%— 0.000%— LS Chart →
Gate logoGatespot$0.0225KuCoin logoKuCoinspot$0.0225 -0.36%-0.56% -0.36%— 0.000%— LS Chart →
Bybit logoBybitspot$0.0225Bitget logoBitgetspot$0.0224 -0.40%-0.60% -0.40%— 0.000%— LS Chart →
Bitget logoBitgetspot$0.0225MEXC logoMEXCspot$0.0224 -0.40%-0.60% -0.40%— 0.000%— LS Chart →
KuCoin logoKuCoinspot$0.0225Bitget logoBitgetspot$0.0224 -0.44%-0.64% -0.44%— 0.000%— LS Chart →
Gate logoGatespot$0.0225Bitget logoBitgetspot$0.0224 -0.49%-0.69% -0.49%— 0.000%— LS Chart →
Bybit logoBybitspot$0.0225MEXC logoMEXCspot$0.0224 -0.49%-0.69% -0.49%— 0.000%— LS Chart →
MEXC logoMEXCspot$0.0226Gate logoGatespot$0.0225 -0.53%-0.73% -0.53%— 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$0.0224-0.31% +0.030%$516.3K
MEXC logoMEXCPerpetual · PUFFER_USDTPerpetual $0.0224$0.0224$0.0224-0.31% +0.030%$95.7K
Bybit logoBybitSpot · PUFFERUSDTSpot $0.0225$0.0225$0.0225+0.09% —$94.5K
Bitget logoBitgetSpot · PUFFERUSDTSpot $0.0224$0.0225$0.0225-0.07% —$32.3K
Gate logoGateSpot · PUFFER_USDTSpot $0.0225$0.0225$0.0225+0.16% —$18.0K
KuCoin logoKuCoinSpot · PUFFER-USDTSpot $0.0225$0.0225$0.0225+0.07% —$12.6K
Variational logoVariationalPerpetual · PUFFERPerpetual $0.0224$0.0225$0.0224-0.20% +0.024%$1.1K
MEXC logoMEXCSpot · PUFFERUSDTSpot $0.0224$0.0226$0.0225+0.13% ——
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 Bybit perp at $0.0224 and the highest bid on Gate spot at $0.0225.

The widest PUFFER perpetual spread is between Bybit and Variational: long PUFFER on Bybit at $0.0224 and short on Variational at $0.0224 for -0.13% gross, or -0.29% 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 -0.006% per day, which the position pays while it is open.

For a spot–perpetual (cash-and-carry) trade, the best PUFFER route is to buy spot on Bitget and short the perpetual on Variational: -0.44% gross, -0.64% net, with +0.024% a day of funding on the short leg.

Spot–spot PUFFER arbitrage (buy on Bitget, 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 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 Bitget spot → sell on Gate spot (Spot–Spot): -0.04% gross and -0.24% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest PUFFER?

Bybit (perp) has the lowest PUFFER ask at $0.0224, and Gate (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 (Variational), then close both legs when the spread converges. The coins never move between exchanges.

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