ArbiLayer

THE arbitrage

live

Live Thena price differences between exchanges: perpetual, spot and DEX spreads after fees, with funding and depth.

Best net spread+0.07%Gate → Gate · Spot–Perp
Best perp–perp spread+0.04%Binance → Gate
Markets tracked107 venues · 7 perp · 3 spot · 0 DEX
Price range0.39%$0.0716 – $0.0719

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinance$0.0718Gate logoGate$0.0718 +0.04%-0.12% +0.04%— 0.000%— LS Chart →
MEXC logoMEXC$0.0718Gate logoGate$0.0718 +0.04%-0.12% +0.04%— 0.000%— LS Chart →
Bybit logoBybit$0.0718Gate logoGate$0.0718 -0.01%-0.17% -0.01%— 0.000%— LS Chart →
Aster logoAster$0.0718Gate logoGate$0.0718 -0.03%-0.19% -0.03%— 0.000%— LS Chart →
Bitget logoBitget$0.0718Gate logoGate$0.0718 -0.04%-0.20% -0.04%— 0.000%— LS Chart →
Binance logoBinance$0.0718MEXC logoMEXC$0.0717 -0.04%-0.20% -0.04%— 0.000%— LS Chart →
MEXC logoMEXC$0.0718Binance logoBinance$0.0717 -0.04%-0.20% -0.04%— 0.000%— LS Chart →
KuCoin logoKuCoin$0.0719Gate logoGate$0.0718 -0.07%-0.23% -0.07%— 0.000%— LS Chart →
Binance logoBinance$0.0718KuCoin logoKuCoin$0.0717 -0.08%-0.24% -0.08%— 0.000%— LS Chart →
MEXC logoMEXC$0.0718KuCoin logoKuCoin$0.0717 -0.08%-0.24% -0.08%— 0.000%— LS Chart →
Bybit logoBybit$0.0718Binance logoBinance$0.0717 -0.10%-0.26% -0.10%— 0.000%— LS Chart →
Bybit logoBybit$0.0718MEXC logoMEXC$0.0717 -0.10%-0.26% -0.10%— 0.000%— LS Chart →
Aster logoAster$0.0718Binance logoBinance$0.0717 -0.11%-0.27% -0.11%— 0.000%— LS Chart →
Aster logoAster$0.0718MEXC logoMEXC$0.0717 -0.11%-0.27% -0.11%— 0.000%— LS Chart →
Binance logoBinance$0.0718Bitget logoBitget$0.0717 -0.11%-0.27% -0.11%— 0.000%— LS Chart →
Long = where you buy, Short = where you sell. Net subtracts a two-leg taker fee model; Spread+F adds the next funding payment.Updates every 15 seconds. Not investment advice.

THE price on every exchange

ExchangeMarketBidAskPricevs medianFunding 24hVolume 24h
KuCoin logoKuCoinPerpetual · THEUSDTMPerpetual $0.0717$0.0719$0.0718+0.04% +0.030%$205.9K
Bitget logoBitgetPerpetual · THEUSDTPerpetual $0.0717$0.0718$0.0718+0.01% +0.030%$164.9K
Bybit logoBybitPerpetual · THEUSDTPerpetual $0.0717$0.0718$0.0717-0.02% +0.030%$132.5K
Gate logoGatePerpetual · THE_USDTPerpetual $0.0718$0.0719$0.0719+0.14% +0.030%$130.0K
MEXC logoMEXCPerpetual · THE_USDTPerpetual $0.0717$0.0718$0.0718+0.01% +0.030%$106.1K
Gate logoGateSpot · THE_USDTSpot $0.0715$0.0716$0.0716-0.25% —$2.7K
Binance logoBinancePerpetual · THEUSDTPerpetual $0.0717$0.0718$0.0718+0.01% +0.030%—
Aster logoAsterPerpetual · THEUSDTPerpetual $0.0717$0.0718$0.0717-0.01% +0.030%—
Binance logoBinanceSpot · THEUSDTSpot $0.0716$0.0717$0.0716-0.14% ——
MEXC logoMEXCSpot · THEUSDTSpot $0.0716$0.0717$0.0717-0.13% ——
Price is the bid/ask midpoint. "vs median" compares each market with the median of all centralized venues.

THE arbitrage explained

Right now Thena (THE) trades on 7 venues we scan: 7 perpetual markets, 3 spot markets and 0 DEX pools. The lowest ask is on Gate spot at $0.0716 and the highest bid on Gate perp at $0.0718.

The widest THE perpetual spread is between Binance and Gate: long THE on Binance at $0.0718 and short on Gate at $0.0718 for +0.04% gross, or -0.12% 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 THE route is to buy spot on Gate and short the perpetual on Gate: +0.27% gross, +0.07% net, with +0.030% a day of funding on the short leg.

Spot–spot THE arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows -0.01% 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 THE 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: THE funding rates · THE spread charts · Thena price · arbitrage scanner for all coins.

Is there a THE arbitrage opportunity right now?

The best THE route right now is to buy on Gate spot → sell on Gate (Spot–Perp): +0.27% gross and +0.07% after fees. It is positive after the fee model, but check depth and funding before trading.

Which exchange has the cheapest THE?

Gate (spot) has the lowest THE ask at $0.0716, and Gate (perp) the highest bid at $0.0718. Prices update every 15 seconds on this page.

How many exchanges list THE?

ArbiLayer tracks 10 THE markets on 7 venues: 7 perpetual, 3 spot and 0 DEX pools.

How do I arbitrage THE without transferring coins?

Use two perpetual contracts: go long THE on the cheaper exchange (Binance now) and short it on the more expensive one (Gate), then close both legs when the spread converges. The coins never move between exchanges.

Arbitrage for other coins

CRO +18.02%BDX +7.03%ONE +6.80%ESPORTS +6.16%BLAST +5.93%OPENAI +5.06%AI +4.03%SPCX +3.75%ANTHROPIC +3.51%EGLD +3.32%CATE +3.31%ZIL +3.18%OURA +3.05%H100 +2.80%APPSTOCK +2.25%PENGSTOCK +2.15%BEN +1.86%MOONSHOT +1.47%