SUSHI arbitrage explained
Right now Sushi (SUSHI) trades on 11 venues we scan: 11 perpetual markets, 7 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.2524 and the highest bid on HTX perp at $0.2534.
The widest SUSHI perpetual spread is between Bybit and HTX: long SUSHI on Bybit at $0.2524 and short on HTX at $0.2534 for +0.40% gross, or +0.24% 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 SUSHI route is to buy spot on Binance and short the perpetual on HTX: +0.24% gross, +0.04% net, with +0.030% a day of funding on the short leg.
Spot–spot SUSHI 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 SUSHI 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: SUSHI funding rates · SUSHI spread charts · Sushi price · arbitrage scanner for all coins.