TAG arbitrage explained
Right now TAGGER (TAG) trades on 8 venues we scan: 8 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Gate perp at $0.000761 and the highest bid on Bybit perp at $0.000764.
The widest TAG perpetual spread is between Gate and Bybit: long TAG on Gate at $0.000761 and short on Bybit at $0.000764 for +0.33% gross, or +0.17% 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 TAG route is to buy spot on Gate and short the perpetual on Bybit: +0.29% gross, +0.09% net, with +0.030% a day of funding on the short leg.
Spot–spot TAG arbitrage (buy on Gate, withdraw, deposit and sell on KuCoin) shows +0.20% 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 TAG 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: TAG funding rates · TAG spread charts · TAGGER price · arbitrage scanner for all coins.