ArbiLayer

S arbitrage

live

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

Best net spread-0.09%Variational → Bitget · Perp–Perp
Best perp–perp spread+0.07%Variational → Bitget
Markets tracked1710 venues · 10 perp · 7 spot · 0 DEX
Price range0.32%$0.0403 – $0.0405

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Variational logoVariational$0.0404Bitget logoBitget$0.0404 +0.07%-0.09% +0.11%— +0.222%— LS Chart →
Variational logoVariational$0.0404Binance logoBinance$0.0404 +0.05%-0.11% +0.08%— +0.177%— LS Chart →
Variational logoVariational$0.0404MEXC logoMEXC$0.0404 +0.05%-0.11% +0.08%— +0.177%— LS Chart →
Gate logoGate$0.0404Bitget logoBitget$0.0404 +0.05%-0.11% +0.05%— 0.000%— LS Chart →
OKX logoOKX$0.0404Bitget logoBitget$0.0404 +0.05%-0.11% +0.07%— +0.111%— LS Chart →
Variational logoVariational$0.0404Hyperliquid logoHyperliquid$0.0404 +0.03%-0.13% +0.06%— +0.222%— LS Chart →
Variational logoVariational$0.0404Bybit logoBybit$0.0404 +0.02%-0.14% +0.06%— +0.222%— LS Chart →
Variational logoVariational$0.0404KuCoin logoKuCoin$0.0404 +0.02%-0.14% +0.06%— +0.212%— LS Chart →
Gate logoGate$0.0404Binance logoBinance$0.0404 +0.02%-0.14% +0.02%— -0.045%-0.40% LS Chart →
Gate logoGate$0.0404MEXC logoMEXC$0.0404 +0.02%-0.14% +0.02%— -0.046%— LS Chart →
OKX logoOKX$0.0404Binance logoBinance$0.0404 +0.02%-0.14% +0.04%— +0.066%— LS Chart →
OKX logoOKX$0.0404MEXC logoMEXC$0.0404 +0.02%-0.14% +0.04%— +0.065%— LS Chart →
Bybit logoBybit$0.0404Bitget logoBitget$0.0404 +0.02%-0.14% +0.02%— 0.000%— LS Chart →
KuCoin logoKuCoin$0.0404Bitget logoBitget$0.0404 +0.02%-0.14% +0.03%— +0.011%— LS Chart →
Gate logoGate$0.0404Hyperliquid logoHyperliquid$0.0404 +0.00%-0.16% -0.00%— 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.

S price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
Gate logoGatePerpetual · S_USDTPerpetual $0.0403$0.0404$0.0404-0.12% +0.030%$6.52M
Bybit logoBybitPerpetual · SUSDTPerpetual $0.0404$0.0404$0.0404-0.07% +0.030%$3.32M
Bitget logoBitgetPerpetual · SUSDTPerpetual $0.0404$0.0404$0.04040.00% +0.030%$2.39M
OKX logoOKXPerpetual · S-USDT-SWAPPerpetual $0.0404$0.0404$0.0404-0.11% -0.081%$1.90M
MEXC logoMEXCPerpetual · S_USDTPerpetual $0.0404$0.0404$0.0404-0.04% -0.016%$1.78M
KuCoin logoKuCoinPerpetual · SUSDTMPerpetual $0.0404$0.0404$0.0404-0.07% +0.019%$1.22M
Hyperliquid logoHyperliquidPerpetual · SPerpetual $0.0404$0.0404$0.0404+0.01% +0.030%$600.7K
KuCoin logoKuCoinSpot · S-USDTSpot $0.0404$0.0405$0.0405+0.12% —$587.8K
Bybit logoBybitSpot · SUSDTSpot $0.0404$0.0405$0.0404+0.10% —$460.1K
OKX logoOKXSpot · S-USDTSpot $0.0404$0.0405$0.0404+0.09% —$399.0K
Bitget logoBitgetSpot · SUSDTSpot $0.0404$0.0405$0.0404+0.07% —$270.7K
Gate logoGateSpot · S_USDTSpot $0.0404$0.0405$0.0404+0.10% —$202.9K
Variational logoVariationalPerpetual · SPerpetual $0.0403$0.0404$0.0403-0.20% -0.192%$11.5K
Binance logoBinancePerpetual · SUSDTPerpetual $0.0404$0.0404$0.0404-0.04% -0.015%—
Aster logoAsterPerpetual · SUSDTPerpetual $0.0404$0.0404$0.0404-0.05% -0.079%—
Binance logoBinanceSpot · SUSDTSpot $0.0404$0.0405$0.0404+0.10% ——
MEXC logoMEXCSpot · SUSDTSpot $0.0404$0.0405$0.0404+0.10% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

S arbitrage explained

Right now Sonic (S) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Variational perp at $0.0404 and the highest bid on KuCoin spot at $0.0404.

The widest S perpetual spread is between Variational and Bitget: long S on Variational at $0.0404 and short on Bitget at $0.0404 for +0.07% gross, or -0.09% 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 +0.222% per day, which the position collects while it is open.

For a spot–perpetual (cash-and-carry) trade, the best S route is to buy spot on Binance and short the perpetual on Bitget: -0.17% gross, -0.37% net, with +0.030% a day of funding on the short leg.

Spot–spot S arbitrage (buy on Binance, withdraw, deposit and sell on KuCoin) shows -0.05% 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 S 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: S funding rates · S spread charts · Sonic price · arbitrage scanner for all coins.

Is there a S arbitrage opportunity right now?

The best S route right now is to buy on Variational → sell on Bitget (Perp–Perp): +0.07% gross and -0.09% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest S?

Variational (perp) has the lowest S ask at $0.0404, and KuCoin (spot) the highest bid at $0.0404. Prices update every 15 seconds on this page.

How many exchanges list S?

ArbiLayer tracks 17 S markets on 10 venues: 10 perpetual, 7 spot and 0 DEX pools.

How do I arbitrage S without transferring coins?

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

Arbitrage for other coins

CRO +16.78%BLAST +11.52%ESPORTS +7.60%ONE +7.29%FLYBRAIN +6.94%OPENAI +6.02%GAIA +4.96%ANTHROPIC +3.38%SPCX +3.28%CATE +3.09%ZIL +3.02%EGLD +2.85%OURA +2.70%AI +2.67%ZCAT +2.64%APPSTOCK +2.29%PENGSTOCK +1.75%STAMP +1.35%