RSR arbitrage explained
Right now Reserve Rights (RSR) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Binance perp at $0.001644 and the highest bid on Variational perp at $0.001654.
The widest RSR perpetual spread is between Binance and Variational: long RSR on Binance at $0.001644 and short on Variational at $0.001654 for +0.61% gross, or +0.45% 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 pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best RSR route is to buy spot on Gate and short the perpetual on Variational: +0.43% gross, +0.23% net, with +0.030% a day of funding on the short leg.
Spot–spot RSR arbitrage (buy on Gate, withdraw, deposit and sell on OKX) shows +0.24% 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 RSR 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: RSR funding rates · RSR spread charts · Reserve Rights price · arbitrage scanner for all coins.