STEEM arbitrage explained
Right now Steem (STEEM) trades on 9 venues we scan: 9 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on KuCoin perp at $0.0612 and the highest bid on Bybit perp at $0.0614.
The widest STEEM perpetual spread is between KuCoin and Bybit: long STEEM on KuCoin at $0.0612 and short on Bybit at $0.0614 for +0.36% gross, or +0.20% 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 -0.388% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best STEEM route is to buy spot on Binance and short the perpetual on Bybit: +0.15% gross, -0.05% net, with -0.395% a day of funding on the short leg.
Spot–spot STEEM arbitrage (buy on Binance, withdraw, deposit and sell on Gate) 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 STEEM 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: STEEM funding rates · STEEM spread charts · Steem price · arbitrage scanner for all coins.