SAPIEN arbitrage explained
Right now Sapien (SAPIEN) trades on 9 venues we scan: 9 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.073 and the highest bid on Gate perp at $0.0732.
The widest SAPIEN perpetual spread is between Binance and Gate: long SAPIEN on Binance at $0.073 and short on Gate at $0.0732 for +0.21% 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 0.000% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best SAPIEN route is to buy spot on Gate and short the perpetual on Gate: +0.23% gross, +0.03% net, with +0.030% a day of funding on the short leg.
Spot–spot SAPIEN arbitrage (buy on Gate, withdraw, deposit and sell on Bitget) shows +0.21% 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 SAPIEN 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: SAPIEN funding rates · SAPIEN spread charts · Sapien price · arbitrage scanner for all coins.