TOWNS arbitrage explained
Right now Towns (TOWNS) trades on 8 venues we scan: 8 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bybit perp at $0.002038 and the highest bid on KuCoin perp at $0.002043.
The widest TOWNS perpetual spread is between Bybit and KuCoin: long TOWNS on Bybit at $0.002038 and short on KuCoin at $0.002043 for +0.25% gross, or +0.09% 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 +0.034% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best TOWNS route is to buy spot on KuCoin and short the perpetual on KuCoin: +0.25% gross, +0.05% net, with +0.064% a day of funding on the short leg.
Spot–spot TOWNS arbitrage (buy on KuCoin, withdraw, deposit and sell on Bitget) shows +0.25% 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 TOWNS 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: TOWNS funding rates · TOWNS spread charts · Towns price · arbitrage scanner for all coins.