PUNDIX arbitrage explained
Right now Pundi X (PUNDIX) trades on 7 venues we scan: 6 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.1112 and the highest bid on Bybit perp at $0.1115.
The widest PUNDIX perpetual spread is between Gate and Bybit: long PUNDIX on Gate at $0.1112 and short on Bybit at $0.1115 for +0.23% gross, or +0.07% 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 PUNDIX route is to buy spot on Binance and short the perpetual on Bybit: -0.04% gross, -0.24% net, with +0.030% a day of funding on the short leg.
Spot–spot PUNDIX arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) shows -0.09% 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 PUNDIX 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: PUNDIX funding rates · PUNDIX spread charts · Pundi X price · arbitrage scanner for all coins.