SWARMS arbitrage explained
Right now Swarms (SWARMS) trades on 5 venues we scan: 5 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.008108 and the highest bid on Binance perp at $0.00811.
The widest SWARMS perpetual spread is between Gate and Binance: long SWARMS on Gate at $0.00811 and short on Binance at $0.00811 for 0.00% gross, or -0.16% 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 +0.106% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best SWARMS route is to buy spot on Gate and short the perpetual on Binance: +0.02% gross, -0.18% net, with +0.136% a day of funding on the short leg.
Spot–spot SWARMS arbitrage (buy on KuCoin, withdraw, deposit and sell on Gate) shows -0.14% 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 SWARMS 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: SWARMS funding rates · SWARMS spread charts · Swarms price · arbitrage scanner for all coins.