STX arbitrage explained
Right now Stacks (STX) trades on 10 venues we scan: 10 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.3831 and the highest bid on Hyperliquid perp at $0.3837.
The widest STX perpetual spread is between Bybit and Hyperliquid: long STX on Bybit at $0.3831 and short on Hyperliquid at $0.3837 for +0.16% gross, or +0.00% 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 STX route is to buy spot on Binance and short the perpetual on Hyperliquid: +0.03% gross, -0.17% net, with +0.030% a day of funding on the short leg.
Spot–spot STX arbitrage (buy on Binance, withdraw, deposit and sell on Bybit) 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 STX 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: STX funding rates · STX spread charts · Stacks price · arbitrage scanner for all coins.