STABLE arbitrage explained
Right now Stable (STABLE) trades on 10 venues we scan: 10 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $0.0277 and the highest bid on Binance perp at $0.0278.
The widest STABLE perpetual spread is between KuCoin and Binance: long STABLE on KuCoin at $0.0277 and short on Binance at $0.0278 for +0.22% gross, or +0.06% 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 +0.032% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best STABLE route is to buy spot on Bybit and short the perpetual on Binance: +0.18% gross, -0.02% net, with +0.062% a day of funding on the short leg.
Spot–spot STABLE arbitrage (buy on Bybit, withdraw, deposit and sell on Bitget) 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 STABLE 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: STABLE funding rates · STABLE spread charts · Stable price · arbitrage scanner for all coins.