ArbiLayer

RUNE arbitrage

live

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

Best net spread-0.05%Bybit → Hyperliquid · Perp–Perp
Best perp–perp spread+0.11%Bybit → Hyperliquid
Markets tracked138 venues · 8 perp · 5 spot · 0 DEX
Price range0.18%$0.7513 – $0.7527

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Bybit logoBybit$0.7514Hyperliquid logoHyperliquid$0.7522 +0.11%-0.05% +0.12%— +0.059%— LS Chart →
Bybit logoBybit$0.7514Gate logoGate$0.7521 +0.09%-0.07% +0.11%— +0.059%— LS Chart →
Binance logoBinance$0.7517Hyperliquid logoHyperliquid$0.7522 +0.07%-0.09% +0.06%— 0.000%— LS Chart →
Bybit logoBybit$0.7514KuCoin logoKuCoin$0.7519 +0.07%-0.09% +0.09%— +0.059%— LS Chart →
MEXC logoMEXC$0.7518Hyperliquid logoHyperliquid$0.7522 +0.06%-0.10% +0.05%— 0.000%— LS Chart →
Binance logoBinance$0.7517Gate logoGate$0.7521 +0.05%-0.11% +0.05%— 0.000%— LS Chart →
Bybit logoBybit$0.7514Bitget logoBitget$0.7517 +0.04%-0.12% +0.06%— +0.059%— LS Chart →
Bybit logoBybit$0.7514MEXC logoMEXC$0.7517 +0.04%-0.12% +0.06%— +0.059%— LS Chart →
MEXC logoMEXC$0.7518Gate logoGate$0.7521 +0.04%-0.12% +0.04%— 0.000%— LS Chart →
Bitget logoBitget$0.752Hyperliquid logoHyperliquid$0.7522 +0.03%-0.13% +0.02%— 0.000%— LS Chart →
Variational logoVariational$0.752Hyperliquid logoHyperliquid$0.7522 +0.03%-0.13% +0.05%— +0.095%— LS Chart →
Bybit logoBybit$0.7514Binance logoBinance$0.7516 +0.03%-0.13% +0.05%— +0.059%— LS Chart →
Binance logoBinance$0.7517KuCoin logoKuCoin$0.7519 +0.03%-0.13% +0.03%— 0.000%— LS Chart →
MEXC logoMEXC$0.7518KuCoin logoKuCoin$0.7519 +0.01%-0.15% +0.01%— 0.000%— LS Chart →
Bitget logoBitget$0.752Gate logoGate$0.7521 +0.01%-0.15% +0.01%— 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.

RUNE price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Gate logoGatePerpetual · RUNE_USDTPerpetual $0.7521$0.7524$0.7523+0.03% +0.030%$2.58M
Bybit logoBybitPerpetual · RUNEUSDTPerpetual $0.7512$0.7514$0.7513-0.10% -0.029%$1.68M
Bitget logoBitgetPerpetual · RUNEUSDTPerpetual $0.7517$0.752$0.7519-0.03% +0.030%$635.0K
MEXC logoMEXCPerpetual · RUNE_USDTPerpetual $0.7517$0.7518$0.7518-0.04% +0.030%$612.2K
Hyperliquid logoHyperliquidPerpetual · RUNEPerpetual $0.7522$0.7531$0.7527+0.08% +0.030%$602.8K
KuCoin logoKuCoinPerpetual · RUNEUSDTMPerpetual $0.7519$0.7528$0.7524+0.04% +0.030%$254.2K
KuCoin logoKuCoinSpot · RUNE-USDTSpot $0.7522$0.7527$0.7525+0.05% —$216.6K
Bybit logoBybitSpot · RUNEUSDTSpot $0.7519$0.7522$0.75210.00% —$146.8K
Gate logoGateSpot · RUNE_USDTSpot $0.7514$0.7527$0.75210.00% —$40.2K
Variational logoVariationalPerpetual · RUNEPerpetual $0.7509$0.752$0.7515-0.08% -0.065%$23.5K
Binance logoBinancePerpetual · RUNEUSDTPerpetual $0.7516$0.7517$0.7517-0.05% +0.030%—
Binance logoBinanceSpot · RUNEUSDTSpot $0.752$0.753$0.7525+0.06% ——
MEXC logoMEXCSpot · RUNEUSDTSpot $0.7509$0.7527$0.7518-0.03% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

RUNE arbitrage explained

Right now THORChain (RUNE) trades on 8 venues we scan: 8 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.7514 and the highest bid on Hyperliquid perp at $0.7522.

The widest RUNE perpetual spread is between Bybit and Hyperliquid: long RUNE on Bybit at $0.7514 and short on Hyperliquid at $0.7522 for +0.11% gross, or -0.05% 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 +0.059% per day, which the position collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best RUNE route is to buy spot on Bybit and short the perpetual on Hyperliquid: +0.01% gross, -0.19% net, with +0.030% a day of funding on the short leg.

Spot–spot RUNE arbitrage (buy on Bybit, withdraw, deposit and sell on KuCoin) shows 0.00% 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 RUNE 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: RUNE funding rates · RUNE spread charts · THORChain price · arbitrage scanner for all coins.

Is there a RUNE arbitrage opportunity right now?

The best RUNE route right now is to buy on Bybit → sell on Hyperliquid (Perp–Perp): +0.11% gross and -0.05% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest RUNE?

Bybit (perp) has the lowest RUNE ask at $0.7514, and Hyperliquid (perp) the highest bid at $0.7522. Prices update every 15 seconds on this page.

How many exchanges list RUNE?

ArbiLayer tracks 13 RUNE markets on 8 venues: 8 perpetual, 5 spot and 0 DEX pools.

How do I arbitrage RUNE without transferring coins?

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

Arbitrage for other coins

CRO +21.92%ONE +7.61%BLAST +7.42%BDX +7.26%UPC +7.05%ESPORTS +6.29%OPENAI +5.36%AI +5.23%ANTHROPIC +3.69%SNEK +3.63%OURA +3.43%H100 +3.40%ZIL +3.25%FLYBRAIN +3.15%CATE +3.06%SPCX +2.76%EGLD +2.70%BEN +2.49%