ArbiLayer

THE arbitrage

live

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

Best net spread-0.06%Binance → Gate · Spot–Perp
Best perp–perp spread+0.06%Binance → Gate
Markets tracked107 venues · 7 perp · 3 spot · 0 DEX
Price range0.31%$0.0713 – $0.0716

Spreads between exchanges

Long (buy)Short (sell)SpreadNetSpread+FDepth $Funding 24hFunding 30DD/WChart
Binance logoBinancespot$0.0714Gate logoGate$0.0715 +0.14%-0.06% +0.15%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714Gate logoGate$0.0715 +0.11%-0.09% +0.12%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714Binance logoBinance$0.0714 +0.06%-0.14% +0.06%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714MEXC logoMEXC$0.0714 +0.06%-0.14% +0.06%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714Bybit logoBybit$0.0714 +0.03%-0.17% +0.03%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714Bitget logoBitget$0.0714 +0.03%-0.17% +0.03%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714Binance logoBinance$0.0714 +0.03%-0.17% +0.03%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714MEXC logoMEXC$0.0714 +0.03%-0.17% +0.03%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714KuCoin logoKuCoin$0.0714 +0.01%-0.19% +0.02%— +0.030%— LS Chart →
Gate logoGatespot$0.0715Gate logoGate$0.0715 +0.01%-0.19% +0.02%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714Bybit logoBybit$0.0714 0.00%-0.20% +0.01%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714Bitget logoBitget$0.0714 0.00%-0.20% +0.01%— +0.030%— LS Chart →
MEXC logoMEXCspot$0.0714KuCoin logoKuCoin$0.0714 -0.01%-0.21% -0.01%— +0.030%— LS Chart →
Binance logoBinancespot$0.0714Aster logoAster$0.0714 -0.06%-0.26% -0.05%— +0.030%— LS Chart →
Gate logoGatespot$0.0715Binance logoBinance$0.0714 -0.07%-0.27% -0.06%— +0.030%— 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 $0.0714$0.0715$0.0715+0.03% +0.030%$208.4K
Bitget logoBitgetPerpetual · THEUSDTPerpetual $0.0714$0.0716$0.0715+0.05% +0.030%$151.1K
Bybit logoBybitPerpetual · THEUSDTPerpetual $0.0714$0.0715$0.07150.00% +0.030%$137.3K
Gate logoGatePerpetual · THE_USDTPerpetual $0.0715$0.0716$0.0716+0.14% +0.030%$123.8K
MEXC logoMEXCPerpetual · THE_USDTPerpetual $0.0714$0.0715$0.07150.00% +0.030%$105.9K
Gate logoGateSpot · THE_USDTSpot $0.0712$0.0715$0.0713-0.17% —$2.4K
Binance logoBinancePerpetual · THEUSDTPerpetual $0.0714$0.0715$0.07150.00% +0.030%—
Aster logoAsterPerpetual · THEUSDTPerpetual $0.0714$0.0715$0.0715+0.00% +0.030%—
Binance logoBinanceSpot · THEUSDTSpot $0.0713$0.0714$0.0714-0.14% ——
MEXC logoMEXCSpot · THEUSDTSpot $0.0713$0.0714$0.0714-0.13% ——
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 Binance spot at $0.0714 and the highest bid on Gate perp at $0.0715.

The widest THE perpetual spread is between Binance and Gate: long THE on Binance at $0.0715 and short on Gate at $0.0715 for +0.06% gross, or -0.10% 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 Binance and short the perpetual on Gate: +0.14% gross, -0.06% net, with +0.030% a day of funding on the short leg.

Spot–spot THE arbitrage (buy on Binance, withdraw, deposit and sell on MEXC) shows -0.15% 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 Binance spot → sell on Gate (Spot–Perp): +0.14% gross and -0.06% after fees. After fees it is not profitable, which is normal for liquid coins.

Which exchange has the cheapest THE?

Binance (spot) has the lowest THE ask at $0.0714, and Gate (perp) the highest bid at $0.0715. 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

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