TRIA arbitrage explained
Right now TRIA trades on 8 venues we scan: 8 perpetual markets, 4 spot markets and 0 DEX pools. The lowest ask is on Bitget spot at $0.003691 and the highest bid on Gate perp at $0.0037.
The widest TRIA perpetual spread is between OKX and Gate: long TRIA on OKX at $0.003692 and short on Gate at $0.0037 for +0.22% gross, or +0.06% 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 -0.032% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best TRIA route is to buy spot on Bybit and short the perpetual on Gate: +0.19% gross, -0.01% net, with +0.030% a day of funding on the short leg.
Spot–spot TRIA arbitrage (buy on Bitget, withdraw, deposit and sell on Bybit) shows -0.05% 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 TRIA 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: TRIA funding rates · TRIA spread charts · TRIA price · arbitrage scanner for all coins.