RECALL arbitrage explained
Right now Recall (RECALL) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.0438 and the highest bid on Binance perp at $0.0439.
The widest RECALL perpetual spread is between Bybit and Binance: long RECALL on Bybit at $0.0438 and short on Binance at $0.0439 for +0.16% gross, or -0.00% 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 RECALL route is to buy spot on Gate and short the perpetual on Binance: +0.16% gross, -0.04% net, with +0.030% a day of funding on the short leg.
Spot–spot RECALL arbitrage (buy on Gate, withdraw, deposit and sell on Bybit) shows -0.07% 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 RECALL 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: RECALL funding rates · RECALL spread charts · Recall price · arbitrage scanner for all coins.