TLM arbitrage explained
Right now Alien Worlds (TLM) trades on 8 venues we scan: 7 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.00147 and the highest bid on Bitget spot at $0.001473.
The widest TLM perpetual spread is between Binance and Bybit: long TLM on Binance at $0.001473 and short on Bybit at $0.001472 for -0.04% gross, or -0.20% 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 TLM route is to buy spot on KuCoin and short the perpetual on Bybit: +0.16% gross, -0.04% net, with +0.030% a day of funding on the short leg.
Spot–spot TLM arbitrage (buy on KuCoin, withdraw, deposit and sell on Binance) 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 TLM 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: TLM funding rates · TLM spread charts · Alien Worlds price · arbitrage scanner for all coins.