SONIC arbitrage explained
Right now Sonic SVM (SONIC) trades on 8 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on OKX spot at $0.0259 and the highest bid on Bybit perp at $0.026.
The widest SONIC perpetual spread is between Bitget and Bybit: long SONIC on Bitget at $0.0259 and short on Bybit at $0.026 for +0.19% gross, or +0.03% 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 SONIC route is to buy spot on OKX and short the perpetual on Bybit: +0.23% gross, +0.03% net, with +0.030% a day of funding on the short leg.
Spot–spot SONIC arbitrage (buy on OKX, withdraw, deposit and sell on Bybit) shows +0.04% 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 SONIC 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: SONIC funding rates · SONIC spread charts · Sonic SVM price · arbitrage scanner for all coins.