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 $0.001464 and the highest bid on Gate perp at $0.001468.
The widest TLM perpetual spread is between Binance and Gate: long TLM on Binance at $0.001468 and short on Gate at $0.001468 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 +0.008% 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 Gate: +0.27% gross, +0.07% net, with +0.038% 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.